3124 Pearl Drive, Fullerton, California 92831, Fullerton, 92831 - bed, bath

3124 Pearl Drive, Fullerton, California 92831 home-pic-0
ACTIVE$1,640,000
3124 Pearl Drive, Fullerton, California 92831
0Bed
0Bath
3,820Sqft
8,744Lot
Year Built
1964
Close
-
List price
$1.64M
Original List price
$1.67M
Price/Sqft
$429
HOA
-
Days on market
-
Sold On
-
MLS number
OC25065860
Home ConditionPoor
Features
Patio
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $1.64M(89th), sqft - 3820(67th), beds - undefined(50th), baths - undefined(50th).

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.

Price History

Date
Event
Price
09/17/25
Price Change
$1,640,000
03/26/25
Listing
$1,665,000
Condition Rating
Poor

The property was built in 1964, making it 60 years old. The listing explicitly states that it 'does not explicitly mention recent interior renovations, which may necessitate future investment to modernize units and maximize rental income potential.' This, coupled with the complete absence of interior photos (especially kitchens and bathrooms), strongly suggests that these key areas are significantly outdated, likely requiring substantial repairs and rehabilitation to meet modern standards and achieve the mentioned rental upside. While the exterior appears maintained, the implied interior condition aligns with the 'poor' category, indicating a need for major updates to systems and aesthetics.
Pros & Cons

Pros

Desirable Unit Mix: The property features an extremely desirable unit mix comprised exclusively of two-bedroom and two-bath units, which are highly sought after by renters.
Significant Rental Upside: Offers a strong in-place rental income with an attractive 18% upside in rents, presenting a clear opportunity for increased cash flow and return on investment.
Strategic Location: Located in a strong Fullerton sub-market, providing residents with proximity to multiple shopping centers, entertainment, dining options, and major educational institutions like Cal State Fullerton.
Tenant-Centric Amenities: Includes valuable amenities such as on-site laundry, private patios/balconies, and ample parking (six garage spaces and one surface space), enhancing tenant appeal and retention.
Strong Rental Market Demand: Benefits from the strong rental demand in the city of Fullerton, ensuring consistent occupancy and investment stability for a new owner.

Cons

Property Age: Built in 1964, the property is 60 years old, which may imply potential for deferred maintenance, older systems, and higher capital expenditure requirements in the near future.
Recent Price Reduction: The property has undergone a recent price reduction from $1.665M to $1.64M, which could suggest initial overpricing or a longer market presence, potentially indicating buyer resistance at the original price point.
Potential for Interior Updates: While the unit mix is strong, the description does not explicitly mention recent interior renovations, which may necessitate future investment to modernize units and maximize rental income potential.

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