117 Clearbrook Lane, Costa Mesa, California 92626, Costa Mesa, - bed, bath
ACTIVE$1,739,000
117 Clearbrook Lane, Costa Mesa, California 92626
0Bed
0Bath
2,528Sqft
7,841Lot
Year Built
1964
Close
-
List price
$1.74M
Original List price
$1.74M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25244034
Home ConditionFair
Features
Patio
View-
About this home
Fully occupied investment opportunity offering steady income and strong tenant retention. Located directly across from the OC Fairgrounds and Vanguard University, this property provides exceptional convenience near shopping, dining, entertainment, and major freeways. The triplex includes two 1-bedroom units and one 2-bedroom, 1-bath unit. Each features private laundry, fenced outdoor space, and a garage. The 2-bedroom unit has been tastefully upgraded with modern finishes, offering excellent appeal and long-term stability. Ideal for investors seeking dependable cash flow or multi-generational living options in a high-demand rental market.
Price History
Date
Event
Price
10/21/25
Listing
$1,739,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (5 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| Square foot | 2,528 | 3,735 | 17% |
| Lot Size | 7,841 | 8,277 | 50% |
| Price | $1.74M | $1.87M | 50% |
| Price per square foot | $688 | $462.5 | 83% |
| Built year | 1964 | 9820985 | 50% |
| HOA | |||
| Days on market | 15 | 196 | 17% |
Condition Rating
Fair
The property was built in 1964, making it 60 years old. While the description states that one of the three units has been 'tastefully upgraded with modern finishes,' there are no interior images provided to assess the quality, style, or extent of these upgrades, nor the condition of the other two units, kitchens, or bathrooms. The exterior appears maintained but dated. Given the age of the property and the partial nature of the described renovation, it's reasonable to assume that major components are functional but likely show signs of being outdated in at least some parts of the triplex.
Pros & Cons
Pros
Strong Investment Opportunity: The property is fully occupied, offering steady income and strong tenant retention, making it an attractive asset for investors seeking dependable cash flow.
Prime Location: Strategically located directly across from the OC Fairgrounds and Vanguard University, providing exceptional convenience near shopping, dining, entertainment, and major freeways, which enhances tenant demand.
Multi-Unit Income Property: As a triplex with two 1-bedroom units and one 2-bedroom unit, it offers diversified income streams and potential for multi-generational living arrangements.
Desirable Tenant Amenities: Each unit includes private laundry, fenced outdoor space, and a garage, which are highly sought-after features that contribute to tenant satisfaction and retention.
Upgraded Unit Appeal: The 2-bedroom unit has been tastefully upgraded with modern finishes, enhancing its appeal and contributing to long-term stability and tenant satisfaction.
Cons
Age of Property: Built in 1964, the property's age suggests potential for older infrastructure and systems (e.g., plumbing, electrical, roof) that may require significant capital expenditures in the future.
Partial Unit Upgrades: Only the 2-bedroom unit is explicitly mentioned as upgraded, implying the two 1-bedroom units may be in original or less updated condition, potentially limiting their rental value or requiring future renovation investments.
Potential for Higher Maintenance Costs: As an older multi-unit property, it may incur higher ongoing maintenance and repair costs compared to newer constructions, which could impact the net operating income.