3124 Pearl Drive, Fullerton, California 92831, Fullerton, 92831 - bed, bath
3124 Pearl Drive
Fullerton, California 92831
Property Price
SUMMARY
Analysis of 3124 Pearl Drive, Fullerton, California 92831 is currently available with a list price of $1,640,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Fullerton Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1964, the property is functional and maintained but shows clear signs of aging. The interiors feature dated kitchen cabinetry, older appliances, and basic fixtures that lack modern updates. While the units are habitable and generate income, the 18% rental upside mentioned in the listing confirms that the property requires cosmetic and system modernization to meet current market standards.
PROSSTRENGTHS & OPPORTUNITIES
- Desirable Unit Mix
The property consists exclusively of two-bedroom, two-bathroom units, which are highly sought after by long-term tenants and provide superior rental stability compared to smaller unit configurations.
- Ample Parking & Amenities
With six garage spaces plus an additional surface spot, the property offers an exceptional parking-to-unit ratio, complemented by private patios and on-site laundry that enhance resident satisfaction.
- Significant Value-Add Potential
Located near Cal State Fullerton with an estimated 18% upside in rents, this asset offers investors a clear path to increased cash flow through market-rate adjustments and strategic management.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1964, the property may require significant capital expenditures for the maintenance or replacement of older systems, including plumbing, electrical, and roofing.
- Recent Price Adjustment
A recent reduction from the original list price suggests that the initial valuation may have been aggressive, potentially reflecting the need for immediate cosmetic or structural improvements.
About 3124 Pearl Drive
The subject property features an extremely desirable unit mix comprised exclusively of two bedroom and two bath units totaling 3,820 square feet on a large, 8,744 square foot lot. 3124 Pearl Drive provides residents with amenities such as on-site laundry, six (6) garage parking spaces and one (1) surface space, private patios/balconies and walking distance to Pearl Park which features a playground, barbecue pits and picnic tables for residents to enjoy a nice outing. 3124 Pearl Drive also benefits from its strong location within the Fullerton sub-market being located near multiple shopping centers providing residents an abundance of shopping, entertainment, and dining options. The subject property is also located near a number of education institutions such as Kraemer Middle School, Valencia High School and Cal State Fullerton. Taking into consideration the subject property’s strong in-place rental income and 18% upside in rents, 3124 Pearl Drive offers a new owner an appealing opportunity to take advantage of the strong rental demand in the city of Fullerton.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1964
- Lot Size
- 8,744 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 3,820 | 3,258 | 69% |
| Lot Size | 8,744 | 7,405 | 77% |
| Price | $1.64M | $1.40M | 85% |
| Price per sq ft | $429 | $477 | 38% |
| Built year | 1964 | 1964 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 346 | 147 | 92% |
Pricing History
Listed for Sale
Sep 17, 2025
$1,640,000
Initial Listing
Price Change
Mar 26, 2025
$1,665,000
Initial Listing