3124 Pearl Drive, Fullerton, California 92831, Fullerton, - bed, bath

home-pic
ACTIVE$1,640,000
3124 Pearl Drive, Fullerton, California 92831
0Bed
0Bath
3,820Sqft
8,744Lot
Year Built
1964
Close
-
List price
$1.64M
Original List price
$1.67M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25065860
Home ConditionPoor
Features
Patio
View-

About this home

The subject property features an extremely desirable unit mix comprised exclusively of two bedroom and two bath units totaling 3,820 square feet on a large, 8,744 square foot lot. 3124 Pearl Drive provides residents with amenities such as on-site laundry, six (6) garage parking spaces and one (1) surface space, private patios/balconies and walking distance to Pearl Park which features a playground, barbecue pits and picnic tables for residents to enjoy a nice outing. 3124 Pearl Drive also benefits from its strong location within the Fullerton sub-market being located near multiple shopping centers providing residents an abundance of shopping, entertainment, and dining options. The subject property is also located near a number of education institutions such as Kraemer Middle School, Valencia High School and Cal State Fullerton. Taking into consideration the subject property’s strong in-place rental income and 18% upside in rents, 3124 Pearl Drive offers a new owner an appealing opportunity to take advantage of the strong rental demand in the city of Fullerton.

Price History

Date
Event
Price
09/17/25
Price Change
$1,640,000
03/26/25
Listing
$1,665,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (6 Listings)
Beds00
Baths00
Square foot3,8203,258
86%
Lot Size8,7447,405
71%
Price$1.64M$1.4M
71%
Price per square foot$429$477
29%
Built year19641964
50%
HOA
Days on market225211
71%
Condition Rating
Poor

The property was built in 1964, making it 60 years old. The listing provides no interior images or details regarding renovations, particularly for kitchens and bathrooms. This strongly suggests that these key areas, along with other systems, are significantly outdated, likely original or minimally updated, and would require substantial rehabilitation to meet modern standards. While the exterior appears maintained, the complete absence of interior information for a property of this age indicates a need for major investment in updates and repairs.
Pros & Cons

Pros

Desirable Unit Mix & Size: The property features an exclusive and highly sought-after unit mix of two-bedroom, two-bathroom units, totaling 3,820 sqft on a generous 8,744 sqft lot, appealing to a broad tenant base.
Strong Rental Upside Potential: With strong in-place rental income and an identified 18% upside in rents, this property offers significant potential for increased cash flow and return on investment.
Prime Fullerton Location: Strategically located in a robust Fullerton sub-market, offering residents convenient access to multiple shopping centers, dining, entertainment, and major educational institutions like Cal State Fullerton.
Tenant-Focused Amenities: The property provides valuable tenant amenities including on-site laundry, ample parking (6 garage, 1 surface), and private patios/balconies, enhancing resident satisfaction and retention.
Proximity to Recreation: Residents benefit from being within walking distance to Pearl Park, offering a playground, barbecue pits, and picnic tables for outdoor enjoyment.

Cons

Property Age & Potential Deferred Maintenance: Built in 1964, the property is 60 years old, which may indicate aging infrastructure, systems, and potential for significant capital expenditures or deferred maintenance requirements.
Recent Price Reduction: The property has recently undergone a price reduction from $1,665,000 to $1,640,000, which could suggest initial overpricing or a need to stimulate buyer interest.
Lack of Modern Interior Upgrades: The description does not specify recent interior renovations or modern finishes within the units, which may necessitate future investment to attract premium tenants and maximize rental income.

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