2976 Royal Palm Drive, Costa Mesa, California 92626, Costa Mesa, - bed, bath

home-pic
ACTIVE UNDER CONTRACT$1,995,000
2976 Royal Palm Drive, Costa Mesa, California 92626
0Bed
0Bath
3,550Sqft
7,350Lot
Year Built
1960
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25237040
Home ConditionFair
Features
ViewNeighborhood

About this home

Don’t Miss This Prime Investment Opportunity in Coveted Mesa Verde! This 4-plex is located in a distinctive street with a mix of single family homes on one side and well kept multifamily units on the other. Nearby homes are listed around $1.7 million, adding to the appeal and long-term value of this investment. The property features four spacious 2-bedroom, 1-bath apartments, each fully rented. Every unit includes in-unit washer/dryer hookups, a private 1-car garage, and additional parking directly behind the garage. All units are individually metered for electricity and gas, making it easier to manage and more cost-efficient for both tenants and owner. Three of the four units have direct street-level access, while the fourth unit features a second-floor entrance. Each unit enjoys its own separate entry, providing added independence and privacy for residents. Some of the most recent upgrades include 3 new sub-panels, new furnace in one of the units, concrete walkway and handrail from staircase, roof replaced in 2017, and SB721 compliant (2022). Property has been professionally managed. Perfectly situated minutes from top-rated schools, Mesa Verde Country Club, parks, premier shopping and dining, and Southern California’s best beaches. Easy commute with quick access to the 405, 55, and 73 freeways, as well as John Wayne Airport and Newport Beach. This property offers both stability and upside potential in one of Costa Mesa’s most desirable neighborhoods.

Nearby schools

7/10
Adams Elementary School
Public,PK-60.7mi
8/10
California Elementary School
Public,K-60.7mi
4/10
Charles W. Tewinkle Middle School
Public,7-80.6mi
5/10
Estancia High School
Public,9-121.5mi

Price History

Date
Event
Price
10/14/25
Listing
$1,995,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (5 Listings)
Beds00
Baths00
Square foot3,5503,787
50%
Lot Size7,3508,031
50%
Price$2M$2M
50%
Price per square foot$562$462.5
83%
Built year19609815985
17%
HOA
Days on market22196
17%
Condition Rating
Fair

The property, built in 1960, shows signs of regular maintenance and some significant updates to major systems, such as a roof replacement in 2017, new sub-panels, and a new furnace in one unit. The exterior appears well-kept with recent concrete work. However, no interior images are provided, making it impossible to assess the condition of kitchens, bathrooms, flooring, and other interior features. Given the age of the building and the absence of any mention of comprehensive interior renovations, it is highly probable that the kitchens and bathrooms are original or have only received minor, older updates, making them functional but outdated in style and features. While the exterior and some major systems are maintained, the likely dated interiors prevent it from achieving a 'Good' rating, placing it in the 'Fair' category, indicating it would require minor to moderate interior updates to meet current aesthetic and functional standards.
Pros & Cons

Pros

Prime Location & Desirability: Situated in the highly coveted Mesa Verde neighborhood, surrounded by higher-valued single-family homes, offering excellent long-term appreciation potential and strong tenant demand due to proximity to top-rated schools, country club, parks, premier shopping, dining, beaches, and major freeways.
Strong Investment Fundamentals: A fully rented quadruplex with four spacious 2-bedroom, 1-bath units, providing immediate stable income. All units are individually metered for electricity and gas, reducing owner's utility expenses and enhancing profitability.
Tenant-Centric Amenities: Each unit boasts highly desirable features such as in-unit washer/dryer hookups, a private 1-car garage with additional parking, and separate entries, ensuring tenant privacy and convenience, which contributes to lower vacancy rates.
Recent Capital Improvements: Significant recent upgrades including 3 new sub-panels, a new furnace in one unit, concrete walkway improvements, a roof replacement in 2017, and SB721 compliance (2022), reducing immediate capital expenditure for a new owner.
Professional Management & Stability: The property has been professionally managed, suggesting well-maintained operations and tenant relations, offering a turn-key investment with established stability and clear upside potential.

Cons

Age of Property & Potential Future CapEx: Built in 1960, the property is over 60 years old. While some upgrades have been made, older infrastructure (e.g., plumbing, windows, remaining HVAC units) may require significant capital expenditures in the future to maintain competitiveness and efficiency.
Limited Unit Configuration: All four units are uniformly configured as 2-bedroom, 1-bath. This lack of unit diversity might limit the property's appeal to a broader tenant demographic or restrict future rental income optimization strategies compared to properties with varied unit sizes.
Active Under Contract Status: The property is currently listed as 'Active Under Contract,' indicating it is not immediately available for new offers, which may deter eager investors seeking an immediate acquisition opportunity.

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