117 Clearbrook Lane, Costa Mesa, California 92626, Costa Mesa, - bed, bath

home-pic
ACTIVE$1,769,000
117 Clearbrook Lane, Costa Mesa, California 92626
0Bed
0Bath
3,326Sqft
7,841Lot
Year Built
1964
Close
-
List price
$1.77M
Original List price
$1.82M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25098136
Home ConditionGood
Features
View-

About this home

This triplex offers an incredible opportunity with loyal tenants and good rental income in one of the most sought-after areas of Costa Mesa. Conveniently located directly across from the Fairgrounds and Vanguard University. With easy access to major attractions, shopping, dining, and public transportation, this property is ideally situated for convenience and comfort. The triplex consists of two 1-bedroom units and one 2-bedroom, 1-bath unit, each featuring private laundry facilities, private yards, and a garage. The 2-bedroom unit has been nicely upgraded with modern finishes, making it a standout space. Each unit offers ample living space, providing tenants with the perfect combination of privacy and convenience. With its prime location and desirable features, this triplex presents an excellent investment opportunity or a great multi-generational living situation.

Price History

Date
Event
Price
08/16/25
Price Change
$1,769,000
05/05/25
Listing
$1,825,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
Square foot3,3263,735
17%
Lot Size7,8418,277
50%
Price$1.77M$1.88M
50%
Price per square foot$532$462.5
83%
Built year19649820985
50%
HOA
Days on market184196
33%
Condition Rating
Good

Built in 1964, the property's age would typically suggest an older condition. However, the listing explicitly states that the 2-bedroom unit has been 'nicely upgraded with modern finishes.' The provided images strongly support this, showcasing a kitchen with modern white shaker cabinets, stainless steel appliances, subway tile backsplash, and recessed lighting. The bathroom also features a contemporary vanity, modern fixtures, and subway tile in the shower. These renovations appear recent and high-quality, making at least one unit move-in ready with no immediate updates required. While the condition of the other units is not detailed, the visible upgrades and overall well-maintained exterior elevate the property's condition to 'Good,' indicating significant recent improvements that align with current quality standards.
Pros & Cons

Pros

Prime Location: Strategically located directly across from the Fairgrounds and Vanguard University in Central Costa Mesa, offering high tenant demand due to proximity to major attractions, shopping, dining, and public transportation.
Established Income Stream: The triplex boasts loyal tenants and good rental income, providing immediate cash flow and a stable investment opportunity for potential buyers.
Desirable Unit Amenities: Each unit features highly sought-after amenities including private laundry facilities, private yards, and a garage, significantly enhancing tenant appeal and retention.
Upgraded Unit Appeal: The 2-bedroom unit has been nicely upgraded with modern finishes, adding significant value and attracting quality tenants, potentially commanding higher rents.
Versatile Investment/Living Option: Presents an excellent investment opportunity for passive income or a practical multi-generational living situation, broadening its appeal to diverse buyer profiles.

Cons

Property Age: Built in 1964, the property is 60 years old, which may imply potential for deferred maintenance, aging infrastructure, or the need for significant capital expenditures in the near future beyond the noted upgrades.
Partial Upgrades: Only the 2-bedroom unit is specified as 'nicely upgraded.' The two 1-bedroom units may be in original or dated condition, potentially requiring further investment to maximize rental income or tenant satisfaction across all units.
Recent Price Reduction: The property has seen a price reduction from its original list price, which, while potentially indicating a motivated seller, could also suggest initial overpricing or a lack of strong buyer interest at the higher price point.

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