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416 Hamilton Street, Costa Mesa, California 92627, Costa Mesa, - bed, bath

home-pic
ACTIVE$2,199,000
416 Hamilton Street, Costa Mesa, California 92627
0Bed
0Bath
3,232Sqft
8,795Lot
Year Built
1973
Close
-
List price
$2.2M
Original List price
$2.25M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NP25185792
Home ConditionGood
Features
Patio
View-

About this home

**PRICE REDUCED & INCOME INCREASED** Prime Westside Costa Mesa investment opportunity featuring a well-maintained triplex just minutes from the beach, dining, and entertainment. The property offers a desirable unit mix of (2) 2BR/2BA units and (1) 3BR/2BA unit, each with private garages and updated finishes. One unit has been recently renovated and leased at a premium rent, with additional upside in the remaining units. The property also includes approved plans for a new 2BR/2BA ADU, providing immediate value-add potential for investors or owner-users. Ideally located near Triangle Square, Pacific Coast Highway, and major freeways, this property combines strong in-place income with long-term growth in one of Orange County’s most sought-after rental markets

Price History

Date
Event
Price
09/24/25
Price Change
$2,199,000-2.3%
08/18/25
Listing
$2,250,000
Neighborhood Comparison
 SubjectAverage HomeNeighbourhood Ranking (10 Listings)
Beds00
Baths00
Square foot3,2322,155
73%
Lot Size8,7956,970
82%
Price$2.2M$1.73M
73%
Price per square foot$680$990
36%
Built year19731950
91%
HOA
Days on market79226
9%
Condition Rating
Good
The property, built in 1973, is described as 'well-maintained' and features at least one unit that has been 'recently renovated' with 'updated finishes.' The provided bathroom image confirms a high-quality, modern renovation with new vanity, contemporary tiling, and updated fixtures. While not all units may be fully renovated to this standard (indicated by 'additional upside in the remaining units'), the overall condition, including the well-kept exterior and recent updates in at least one unit, suggests the property is move-in ready and functional, aligning with a 'good' condition score.
Pros & Cons

Pros

Prime Investment Opportunity: This well-maintained triplex is explicitly positioned as a prime investment opportunity in the highly desirable Westside Costa Mesa market.
Significant Value-Add Potential: Approved plans for a new 2BR/2BA ADU provide immediate and substantial value-add potential, allowing for increased income and property appreciation.
Exceptional Location: Ideally located minutes from the beach, dining, entertainment, Triangle Square, Pacific Coast Highway, and major freeways in a sought-after Orange County rental market.
Strong In-Place Income with Upside: The property offers strong existing income, with one unit recently renovated and leased at a premium, and clear potential to increase rents on the remaining units.
Desirable Unit Mix & Features: Features a versatile unit mix of (2) 2BR/2BA and (1) 3BR/2BA units, each benefiting from private garages and updated finishes.

Cons

Property Age: Built in 1973, the property's age may imply potential for older systems or components that could require future maintenance or upgrades beyond cosmetic updates.
Recent Price Reduction: The recent price reduction from $2.25M to $2.199M suggests potential market resistance at the original asking price, which could indicate a need for competitive pricing or further negotiation.
Future Capital Investment Required: While ADU plans are approved and some units are updated, realizing the full income potential (e.g., building the ADU, optimizing remaining units) will require substantial additional capital investment.

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