3117 Pearl Drive, Fullerton, California 92831, Fullerton, - bed, bath

home-pic
ACTIVE$1,630,000
3117 Pearl Drive, Fullerton, California 92831
8Beds
8Baths
3,820Sqft
8,756Lot
Year Built
1964
Close
-
List price
$1.63M
Original List price
$1.63M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25167932
Home ConditionFair
Features
View-

About this home

Strands Realty Group is pleased to present 3117 Pearl Drive, a fully occupied fourplex located in one of Fullerton’s most sought-after rental markets. Just minutes from Cal State Fullerton, Brea Mall, and the 57 & 91 freeways, this property offers exceptional access to major job centers, top schools, and high-demand amenities. All four units are spacious 2-bedroom, 2-bath layouts with private garage parking and on-site laundry. Each unit is currently leased month-to-month, creating a rare opportunity to raise rents to market quickly. With rents over 44% below market, this is a clear value-add play with immediate upside potential. While the property has been well maintained, no recent renovations have been completed—leaving room for both interior and exterior upgrades to maximize value. This is an ideal investment for operators seeking to reposition a stable asset in a low-vacancy, supply-constrained North Orange County submarket.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (6 Listings)
Beds80
14%
Baths80
14%
Square foot3,8203,258
86%
Lot Size8,7567,405
71%
Price$1.63M$1.4M
71%
Price per square foot$427$477
14%
Built year19641964
50%
HOA
Days on market102209
14%
Condition Rating
Fair

The property was built in 1964 and the listing mentions that no recent renovations have been completed. The kitchen and bathrooms appear functional but outdated. The carpets and flooring also show their age. While the property seems maintained, it requires updates to meet modern standards.
Pros & Cons

Pros

Prime Location: Located in a highly desirable rental market in Fullerton, offering excellent access to Cal State Fullerton, Brea Mall, and major freeways (57 & 91).
Value-Add Opportunity: Current rents are significantly below market value (44% below), providing immediate upside potential through rent increases.
Spacious Units: All four units feature a desirable 2-bedroom, 2-bath layout, appealing to a wide range of tenants.
Private Garages: Each unit includes private garage parking, a valuable amenity for tenants in the area.
Month-to-Month Leases: All units are currently leased month-to-month, allowing for quick implementation of rent increases and property improvements.

Cons

No Recent Renovations: The property has been well-maintained but lacks recent renovations, potentially requiring investment to maximize value.
Older Construction: Built in 1964, the property may require updates to meet modern tenant expectations and building codes.
Potential Renovation Costs: Interior and exterior upgrades may be necessary to achieve market rents and attract higher-quality tenants, incurring additional costs.

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