416 Hamilton Street, Costa Mesa, California 92627, Costa Mesa, 92627 - bed, bath
ACTIVE$2,150,000
416 Hamilton Street, Costa Mesa, California 92627
0Bed
0Bath
3,232Sqft
8,795Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Prime Investment Location: Situated in Westside Costa Mesa, a highly sought-after rental market, minutes from the beach, dining, entertainment, Triangle Square, Pacific Coast Highway, and major freeways, ensuring strong tenant demand and long-term appreciation.
Top Cons:
Property Age: Built in 1973, the property is over 50 years old, which may necessitate future capital expenditures for major systems (e.g., plumbing, electrical, roof) not explicitly mentioned as recently updated.
Compared to the nearby listings
Price:$2.15M vs avg $1.83M (+$315,000)89%
Size:3,232 sqft vs avg 2,191 sqft78%
Price/sqft:$665 vs avg $77433%
More Insights
Built in 1973 (52 years old).
Condition: Built in 1973, this triplex is over 50 years old. However, the listing explicitly states it is 'well-maintained' and features 'updated finishes.' One unit has been 'recently renovated' and leased at a premium, which is supported by the image showing a modern bathroom with subway tiles, a contemporary vanity, and updated brass fixtures. While the overall property age suggests that major systems may not be new, the significant interior updates in at least one unit and general 'updated finishes' across others indicate a move-in ready condition with no immediate renovation required, aligning with a 'good' score.
Year Built
1973
Close
-
List price
$2.15M
Original List price
$2.25M
Price/Sqft
$665
HOA
-
Days on market
-
Sold On
-
MLS number
NP25185792
Home ConditionGood
Features
Patio
View-
About this home
**BACK ON THE MARKET & PRICE REDUCED** Prime Westside Costa Mesa investment opportunity featuring a well-maintained triplex just minutes from the beach, dining, and entertainment. The property offers a desirable unit mix of (2) 2BR/2BA units and (1) 3BR/2BA unit, each with private garages and updated finishes. One unit has been recently renovated and leased at a premium rent, with additional upside in the remaining units. The sale also includes plans for a new 2BR/2BA ADU, providing immediate value-add potential for investors or owner-users. Ideally located near Triangle Square, Pacific Coast Highway, and major freeways, this property combines strong in-place income with long-term growth in one of Orange County’s most sought-after rental markets.
Condition Rating
Good
Built in 1973, this triplex is over 50 years old. However, the listing explicitly states it is 'well-maintained' and features 'updated finishes.' One unit has been 'recently renovated' and leased at a premium, which is supported by the image showing a modern bathroom with subway tiles, a contemporary vanity, and updated brass fixtures. While the overall property age suggests that major systems may not be new, the significant interior updates in at least one unit and general 'updated finishes' across others indicate a move-in ready condition with no immediate renovation required, aligning with a 'good' score.
Pros & Cons
Pros
Prime Investment Location: Situated in Westside Costa Mesa, a highly sought-after rental market, minutes from the beach, dining, entertainment, Triangle Square, Pacific Coast Highway, and major freeways, ensuring strong tenant demand and long-term appreciation.
Strong Income & Value-Add Potential: The triplex offers a desirable unit mix with one unit recently renovated and leased at a premium, plus included plans for a new 2BR/2BA ADU, providing immediate value-add and significant rental income upside.
Well-Maintained with Updated Finishes: The property is described as well-maintained, and units feature updated finishes, suggesting a good condition that minimizes immediate capital expenditure for a new owner.
Desirable Unit Amenities: Each unit benefits from a private garage, a highly attractive amenity in this coastal market, enhancing tenant appeal and rental value.
Motivated Seller & Price Adjustment: The property is 'Back on the Market' with a recent price reduction, indicating a motivated seller and a potentially more attractive entry point for investors.
Cons
Property Age: Built in 1973, the property is over 50 years old, which may necessitate future capital expenditures for major systems (e.g., plumbing, electrical, roof) not explicitly mentioned as recently updated.
Back on Market Status: Being 'Back on the Market' could suggest previous transaction issues (e.g., buyer financing, inspection concerns) that warrant thorough due diligence from prospective buyers.
ADU Execution Required: While ADU plans are a significant value-add, realizing this potential requires the new owner to undertake the construction, incurring additional time, cost, and project management responsibilities.