2956 Peppertree, Costa Mesa, California 92626, Costa Mesa, 92626 - 0 bed, 0 bath
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2956 Peppertree
Costa Mesa, California 92626
ACTIVE
CONDITION: GOOD
0Beds
0Baths
3,550Sq Ft
6,098Lot Size
Property Price
LIST PRICE$1,999,999
EST. MARKET VALUE
$2,128,794
6% BelowMARKET VALUE
SUMMARY
This fully occupied 4-plex presents a Strong Value Opportunity with a List Price of $1,999,999—positioned well below the $2,128,794 Fair Market Value by 6%. This valuation gap offers $128,795 in Instant Equity for investors. Featuring a Condition Rating of 3, the property offers stable cash flow with upgraded laminate flooring and private garages. Located in the desirable Mesa Verde area near top-rated schools, this is a reliable Buy-and-Hold Asset ideal for Buy-and-Hold Investors or 1031 Exchange Buyers seeking immediate, turnkey revenue.
Estimated Market Value
$2,128,794+$128,795 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in Costa Mesa.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 2956 Peppertree Subject 0 bd · 0 ba · 3,550 sqft · $600 | $1,999,999* List Price | 0 | 0 | 3,550 | $600 | - |
A 2940 Peppertree Active 0 bd · 0 ba · 3,551 sqft · $634 · 0.0 mi | $2,250,000 List Price | 0 | 0 | 3,551 | $634 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1960, the property has undergone significant renovations including upgraded laminate flooring and interior finishes. The units are well-maintained, functional, and move-in ready, featuring modern amenities like dishwashers and washer/dryer hookups that elevate it above the 'Fair' category.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Investment Location
Situated in the highly sought-after Mesa Verde 'Spice Streets,' this property offers excellent long-term value and high tenant demand due to its proximity to shopping, dining, and top-rated schools like California Elementary.
- Strong Rental Appeal
The 4-plex features a consistent mix of 2-bedroom units equipped with highly desirable amenities including in-unit washer/dryer hookups and private garages, which are significant drivers for tenant retention.
- Turnkey Revenue Stream
The property is fully occupied with long-term tenants and features several upgraded units with laminate flooring and modern finishes, providing a stable, immediate cash flow opportunity for investors.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6311.
- Aging Infrastructure
Originally constructed in 1960, the property may require more frequent maintenance or future capital improvements to address aging systems and structural components typical of mid-century builds.
- Limited Outdoor Space
With a lot size of approximately 6,098 square feet for four units, the property offers minimal common outdoor areas or potential for significant expansion and additional dwelling units (ADUs).
About 2956 Peppertree
Welcome to 2956 Peppertree, of the Spice Streets of Costa Mesa. This is a great opportunity to own a well-located, fully occupied 4-plex in the highly desirable Mesa Verde area. The property features open floor plan layouts, with each unit offering 2 bedrooms and 1 bathroom. The living rooms open to the dining and kitchen areas with ceiling fans in the dining rooms and bedrooms. Several units have been upgraded and well maintained with long term tenants. Interior finishes and amenities vary by unit. Units offer dishwashers and washer/dryer hookups in the kitchen. Flooring has been upgraded to laminate. Each tenant has a separate garage and ample street parking. Great location near shopping, dining, transportation, and other everyday conveniences, adding to the property's appeal for both investors and tenants. Quiet Mesa Verde community.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1960
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Costa Mesa Unified Schools
Adams Elementary School
Grades PK-6 • 0.7 mi
7/10
California Elementary School
Grades K-6 • 0.8 mi
8/10
Charles W. Tewinkle Middle School
Grades 7-8 • 0.7 mi
4/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 4.1 |
| Baths | 0.0 | 3.3 |
| Square foot | 3,550 | 2,325.7 |
| Lot Size | 6,098 | 6,920 |
| Price | $2.00M | $1.87M |
| Price per sq ft | $563 | $755 |
| Built year | 1960 | 1962 |
| HOA | $0 | $0 |
| Days on market | 18 | 70 |
Pricing History
Listed for Sale
Oct 7, 2026
$1,999,999
Initial Listing
Sold
Nov 5, 2018
$1,400,000
Public Record
Sold
Jun 7, 2013
$1,075,000
Public Record
Sold
Dec 11, 2006
$1,189,000
Public Record