3133 Coral Avenue, Costa Mesa, CA 92626 - Prendergast Real Estate Group

$2,199,999

RARE INVESTMENT PROPERTY INDEED!!! Or, Great for owner Occupant. Remodeled Single story Duplex. Built in 1970 with a completely separate Two Story 4 Bedroom House added at the rear of the lot. The Two Story House, built in 1996 is 1,730 Sq. Ft. and has a 2-car garage. The Duplex… Read More has a total of 2,293 Sq. Ft. The total Square footage for the Duplex + House is 4,023 Sq. Ft. Each unit in the Duplex has Central Heat. 2br unit has 1.5 bath. The Duplex has been beautifully remodeled in the last year or so with new windows kitchens, Baths and new flooring. The Roofs on the duplex and House were replaced in 2017. This property is in the highly desirable and popular SPICE STREET TRACT of 4-Plexes in Costa Mesa. Walk 1 block to nearby park within the tract. Tenants have their own washer and dryer hook-ups. Extremely large 13,292 Square Foot Lot which allowed for the addition of the 2 story 4br - 2ba separate House built to the rear of the duplex in 1996. This is truly a very Unique opportunity to purchase an exceptional 3 unit investment property with huge income potential. Market rents could generate $124,800 in gross income per year which is more than most of the 4-plexes in the tract. Lease on the 4br currently at $3,376 ends on September 30, 2025 and can then be raised to $3,675 within the boundaries of CA rent control assuming the cost of living index remains at 3.9%. There is one 2-car garage, one single garage plus 9 open parking spaces, all on concrete, which includes one space in front of each garage. The trash expense is included in the special assessments portion of the property tax bill. Also, it has separate water heaters for each unit. Long term tenants in both duplex units and all 3 rents can be increased on Oct. 1, 2025. There is still the possibility to build an ADU or to add onto the Duplex and/or the House Buyer (to confirm). Lots of opportunity to increase income. Additionally, there is no messy alley to contend with. All parking is on beautiful concrete (no asphalt with pothole issues). The location in the tract couldn't be better. Walk 1 block to park inside the tract. SUPER QUIET AREA. Also, there are no tenants above or below another tenant. You will look for a very long time to find another 3 unit property with the amenities of this one. Hurry on this one to allow yourself the opportunity to own an investment property of this caliper and one that you will want to own for a very long time!!! Read Less

Property listed by New Dimension Investment Prop, Bob Walz 714-393-8060

Listing Snapshot

Days Online

Last Updated

Apr 4, 2025

Property Type

Triplex

Beds

Full Baths

Partial Baths

Square Ft.

4,023

Lot Size

0.31 Acres

Year Built

1970

MLS Number

OC25072010

30 Days Snapshot Of 92626

$1,527k

-12%

(avg) sold price

-12%

homes sold

-45%

(avg) days on market

Snapshot

Area Map

Additional Details

Property Access

Road frontage type: CityStreet, Road surface type: Paved

Appliances & Equipment

Dishwasher

Building

Built in 1970, Levels: One, Two, Living area: 4023, 1 story, Architectural style: Contemporary, Attached, Common walls: OneCommonWall, EndUnit, NoOneAbove, NoOneBelow, Construction materials: Stucco

Community

Curbs, Gutters, Park

Cooling

None

Accessibility Features

Accessibility features: Parking, AccessibleDoors

Fence

ExcellentCondition

Fireplaces

LivingRoom

Floors

Laminate

Garage

3 spaces

Heating

Central, ForcedAir, Fireplaces

Interior Features

StoneCounters, Unfurnished

Laundry

WasherHookup, GasDryerHookup, Inside, InGarage

Lot

0.3051 acres, 13,292 square feet, Size: 13,292, ZeroToOneUnitAcre, IrregularLot, Lawn, SprinklerSystem, StreetLevel

Parking

9 open parking spaces, 12 totals parking, DoorMulti, DoorSingle, Garage, OnStreet, Unassigned, Uncovered

Pool

None

Property

None

Roof

Flat, FlatTile, RolledHotMop

Security Features

CarbonMonoxideDetectors, SmokeDetectors

Sewer

PublicSewer

Utilities

ElectricityOnProperty, Standard, Unknown, CableAvailable, CableConnected, ElectricityAvailable, ElectricityConnected, NaturalGasAvailable, NaturalGasConnected

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3133 Coral Avenue

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