131 Clearbrook Lane, Costa Mesa, CA 92626

$1,599,000
List Price
$1,599,000
Status
ACTIVE
MLS#
NP21251803
Year Built
1964
Lot Size
8,276
Acres
0.19
Lot Location
Cul-De-Sac, Front Yard, Level, SprinklerSystem, StreetLevel, Walkstreet
Days on Market
4
Property Type
Multifamily
Style
Bungalow
Property Sub Type
Triplex
Stories
One Level
Neighborhood
Other (Othr)

Property Description

Rare opportunity to acquire a well-maintained, single-level triplex with chic curb appeal in the heart of Costa Mesa. First time on the market in over 43 years. These bungalow-style units consist of one 2-Bedroom unit and two 1-Bedroom units. Located at the end of a cul-de-sac on a tree-lined street, the property exudes character and charm. Each unit offers exposed wood beam ceilings, large living rooms, spacious master bedrooms and sizable private patios. The two-bedroom unit also enjoys a cozy fireplace, walk-in closet, dual vanities and laundry. There are three garages that can be rented out separately to generate additional income, along with ample off-street private parking at the rear of the property. Excellent long-time tenants are currently month-to-month and would like to renew their leases. Current rents are below market with upswing potential. Great opportunity for an owner/user or for an investor to add value and increase GSI. Tenant demand is very strong due to the location and the uniqueness of the property. Stroll to OCC, Vanguard University, Orange County Fairgrounds, and Costa Mesa City Hall. Just minutes from local beaches, Triangle Square, 17th Street shops & restaurants, South Coast Plaza and UC Irvine. Easy Freeway access to the 405, 55, and 73. Drive by and see the potential. Please do not disturb tenants. The adjacent duplex located at 129 Clearbrook Lane is also available for purchase.

Additional Information

Appliances
Dishwasher, Electric Range
Pool Description
None
Fireplace Description
Living Room
Heat
Forced Air, Wall Furnace
Cooling
Yes
Cooling Description
Wall/Window Unit(s)
View
Courtyard, Neighborhood
Exterior Construction
Stucco
Roof
Composition
Garage Spaces Total
3
Sewer
Public Sewer
Water
Public
Attached Structure
Attached
Number Of Units Total
3
Gross Scheduled Income
$61,740
Operating Expense
22756

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Brad Hinman from Compass

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.