375 E 21st, Costa Mesa, California 92627, Costa Mesa, 92627 - 6 bed, 4 bath
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Costa Mesa, California 92627
This Rare Triplex Income Asset is a Strong Value Opportunity, listed at $2,250,000—positioned well below the $2,381,256 Fair Market Value by 5%. This valuation gap delivers $131,256 in Instant Equity. Currently in Fair Condition, the property features three separate legal units on a generous 8,276 sq ft lot in Eastside Costa Mesa. Located near Top-Rated Schools like Mariners Elementary and featuring a private Patio and Deck, it offers immense potential for forced appreciation through modernization. This is an ideal play for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 375 E 21st Subject | $2,250,000* List Price | 6 | 4 | 2,693 | $884 | - |
A 2121 Orange Avenue Sold | $1,980,000 | 0 | 0 | 2,074 | $955 | 0.5 mi |
B 273 Virginia Place Sold | $2,100,000 | 5 | 3 | 2,151 | $976 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property, built in 1972 and held by the same owner for nearly 40 years, is in fair condition. While the exterior and landscaping appear well-maintained and 'lovingly kept,' the listing description explicitly invites buyers to 'bring your vision to life,' suggesting the interior components—specifically kitchens and bathrooms—are likely dated and original. The absence of interior photos typically indicates a need for cosmetic and system modernization to meet current market standards, aligning with the 'fair' criteria for aged but functional properties requiring updates.
This rare triplex configuration features three separate legal living units, providing exceptional flexibility for owner-occupants seeking rental offsets or investors looking for a high-yield asset.
Situated on a quiet street near the Newport Beach border, the property offers walking access to 17th Street’s vibrant retail corridor and is zoned for top-rated schools like Mariners Elementary.
The generous 8,276 sq ft lot is significantly larger than average for the area, offering rare outdoor space, a spacious yard for entertaining, and long-term development potential.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8276, other record lot size in square feet = 8160.
Held by the same owner for nearly 40 years, the 1972-built structures likely require cosmetic and system updates to meet modern luxury standards and command top-tier market rents.
While the front house has private laundry, the two rear units share a common laundry area, which may be a slight competitive disadvantage for high-end long-term tenants.
Welcome to your next chapter in vibrant Eastside Costa Mesa - a lovingly kept family compound, privately owned for nearly 40 years and now ready for new memories. Nestled on a generous 8,276 sq ft lot just steps from the Newport Beach border, this rare property feels like getting three homes for the price of one: a total of 2,693 sq ft across three separate legal living units. The cheerful front house is a classic single-level Eastside gem with 2 bedrooms, 1 bath, a single-car garage and private laundry. Tucked behind it, you'll find a two-story end unit with 2 bedrooms and 1.5 baths plus its own detached garage, and above the three garages sits a bright 2-bedroom, 1-bath carriage unit - the rear homes share a convenient laundry area. Imagine hosting celebrations in the spacious yard, strolling to award-winning schools, and popping over to the shops and restaurants on 17th Street - or hopping on your bike for a quick ride to one of California's best beaches. Whether you're an investor looking for steady income or an owner-occupant craving flexibility and rental help, this property offers endless possibilities and a prime location that's hard to beat. Come see the potential and bring your vision to life! Property will be delivered vacant .
No exterior & parking available.
Grades PK-2 • 0.1 mi
Grades 3-6 • 0.2 mi
Grades PK-6 • 0.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 0.0 | 89% |
| Baths | 4.0 | 0.0 | 89% |
| Square foot | 2,693 | 2,112.5 | 67% |
| Lot Size | 8,276 | 7,577 | 67% |
| Price | $2.25M | $1.94M | 72% |
| Price per sq ft | $835 | $946 | 39% |
| Built year | 1972 | 1960 | 72% |
| HOA | $0 | $0 | 50% |
| Days on market | 33 | 189 | 6% |
Mar 20, 2026
$2,250,000
Initial Listing