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Listed by Melissa Wiesen • eXp Realty of California Inc
$ 1,695,000
Est. payment /mo
Price Dropped by $44K
117 Clearbrook Lane Costa Mesa, CA 92626
2,528 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,528 sqft
Price per Sqft $670
MLS Listing ID OC-25244034
Year Built 1964
Lot Size 7,841 Sqft
Property Sub-Type Triplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
See the property video for more information. Discover a rare triplex investment opportunity in Costa Mesa offering stable income, below-market rents, and long-term upside potential. Ideally located across from the OC Fairgrounds and Vanguard University, this property attracts consistent tenant demand year-round from students, professionals, and event traffic. The property features three well-maintained units—two 1-bedroom residences and one 2-bedroom, 1-bath home—each with its own private laundry, fenced outdoor area, and single-car garage. The 2-bedroom unit has been updated with modern finishes, while the other two offer immediate rental growth potential through light cosmetic improvements. Situated on a 7,841-square-foot lot with separate gas and electric meters, this triplex delivers low operating expenses and strong future returns. Current gross income is approximately $95,000 annually, with market rents projected to exceed $100,000+ based on nearby comparable properties. Perfect for investors seeking passive income in Orange County or those completing a 1031 Exchange, 117 Clearbrook Ln combines prime location, dependable tenants, and opportunity for value-add appreciation. Explore options for ADU conversion, or long-term hold in one of Costa Mesa's most central neighborhoods—minutes from South Coast Plaza, John Wayne Airport, and Newport Beach.
Highlights:
Fully occupied triplex with strong tenant history
Two 1-bed units + one 2-bed unit with modern upgrades
Each unit includes private laundry & garage
Excellent 1031 Exchange replacement property
Near OC Fairgrounds, Vanguard University & 55 Freeway
Market rent growth + ADU potential for added income
Approx. 4+% Cap Rate | 2,528 SQFT
Highlights:
Fully occupied triplex with strong tenant history
Two 1-bed units + one 2-bed unit with modern upgrades
Each unit includes private laundry & garage
Excellent 1031 Exchange replacement property
Near OC Fairgrounds, Vanguard University & 55 Freeway
Market rent growth + ADU potential for added income
Approx. 4+% Cap Rate | 2,528 SQFT
Location
State CA
County Orange
Area C4 - Central Costa Mesa
Interior
Fireplaces Type None
Laundry Outside
Exterior
Parking Features Garage
Garage Spaces 4.0
Pool None
Community Features Biking, Curbs, Gutters, Urban
Building
Lot Description 0-1 Unit/Acre
Sewer Public Sewer
Others
Virtual Tour https://youtu.be/oiWWF9aaXVY