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Mike Jones
Whole Life Property Management San Diego
mikejonessandiegorealtor@gmail.com +1(480) 326-9233$1,739,000
Est. payment /mo
4 Beds
7,841 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25244034
Bedrooms 4
Lot Size 7,841 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
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 unitstwo 1-bedroom residences and one 2-bedroom, 1-bath homeeach 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 $91,000 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 Mesas most central neighborhoodsminutes 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 growt
Location
State CA
County Orange
Zoning Assessor
Direction Fair and Vanguard
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 41914119
Acceptable Financing Exchange
Listing Terms Exchange
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Listed by Melissa Wiesen eXp Realty of California Inc
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