Active

131 E 21st Street

Costa Mesa, CA 92627
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Bed 0

Bed

Bath 0

Bath

SqFt3,704

Sqft

SqFt15,746

Sqft(Lot)

Rare pride-of-ownership 5-unit investment opportunity located in highly desirable Eastside Costa Mesa. Offered for sale for the first time in approximately 27 years, this well-maintained asset occupies an expansive approximately 15,746 square foot lot and features a unique low-density cottage-style layout with lots of attractive features and benefits. Improvements include a freestanding 2-bedroom, 1-bath residence positioned at the front of the property, along with four additional units located within two separate residential buildings at the rear. Unit mix consists of two 1-bedroom units and two 2-bedroom units. A defining characteristic of the offering is its abundance of private outdoor space. The front residence enjoys a large enclosed front yard with white picket vinyl fence and pr ivate rear yard, while each remaining unit benefits from its own yard, patio, or outdoor living area. This residential environment has contributed to strong tenant retention and consistent rental demand over many years. Residents enjoy amenities seldom found in comparable investment properties, including six enclosed garages, five equipped with automatic openers, in-unit washer and dryer hookups, and off-street parking for approximately eight vehicles. One garage is currently leased separately, generating additional monthly income. Generous parking, private outdoor areas, and thoughtful site design further enhance long-term resident appeal. From an operational standpoint, ownership benefits from a favorable utility structure. Gas and electricity are separately metered with no house gas or electric meters, helping reduce operating costs. Each residence is equipped with its own water heater, with residents responsible for individual gas consumption. Operating expenses remain straightforward and consist primarily of water, trash service, property taxes, insurance, landscaping, and professional management. Eastside Costa Mesa continues to rank among Orange County's most desirable rental markets, driven by its proximity to Newport Beach, major employment centers, premier shopping, dining, and coastal recreation. Convenient access to Newport Boulevard and the 55 Freeway further strengthens location appeal. This offering presents a rare opportunity to acquire a quality multifamily investment in one of Southern California's most sought-after rental submarkets.

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Detail Ic Property Details

Property Type : Residential Income

Price : $3,490,000

AD Id : 79964139

MLS Id : OC26116869

Lot Size : 15,746 Sqft

Living Area Size : 3,704

Year Built : 1961

Garage : 6

County : Orange

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Feature Features

  • Water/Sewer

    Water Source: Public Sewer: Public Sewer
  • Interior Features

    Roof: Shingle Interior Features: All Bedrooms Down Property Appliances: Dishwasher,Gas Oven,Gas Range,Microwave Flooring: Carpet,Tile
  • Cooling Features

    None Air Conditioning

    Heating Source

    Wall Furnace Has Heating

  • Building Information

    Year Built: 1961 Building Area Total: 3,704 Roof: Shingle
  • Accessibility Features

    Safe Emergency Egress from Home,Parking,Accessible Doors

    Pool Features

    None

    Laundry Features

    Washer Hookup,Gas Dryer Hookup

  • Lot Details

    Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.3615
  • Lot Size Source: Public Records Lot Size Square Feet: 15746

  • Listing Price Information

    Original List Price: 3,490,000 Listing Contract Date: 2026-06-03
  • Lease Information

    Listing Agreement: Exclusive Right To Sell

  • Tax Information

    Parcel Number: 42618213

  • Garage and Parking

    Garage Description: Door-Single,Driveway,Garage,One Space

    Homeowners Association

  • Rental Info

    Lease Term: Negotiable Tenant Pays: Electricity,Gas

  • Other Property Info

    Source Listing Status: Active Source Neighborhood: C5 - East Costa Mesa Directions: Newport Blvd and 21st St Source Property Type: Residential Income Area: C5 - East Costa Mesa Property SubType: Apartment
  • Building and Construction

    Property Age: 65 Common Walls: 1 Common Wall Structure Type: Apartment Year Built Source: Public Records Entry Level: 1 Entry Location: 1 Property Attached: Yes Levels or Stories: One Building Total Stories: 1
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
137 The Masters Circle, Costa Mesa, CA, 92627 $2,280,000 4 4 3,887 3,887 SqFt
315 University Drive, Costa Mesa, CA, 92627 $2,675,000 2 2 1,225 1,225 SqFt
2197 Santa Ana Avenue, Costa Mesa, CA, 92627 $2,725,000 4 2 2,055 2,055 SqFt
2011 Tustin Avenue, Costa Mesa, CA, 92627 $2,095,000 3 -- 1,408 1,408 SqFt
305 Robinhood, Costa Mesa, CA, 92627 $3,695,000 5 3 2,863 2,863 SqFt
415 Walnut, Costa Mesa, CA, 92627 $3,295,000 3 2 1,430 1,430 SqFt
291-293 Avocado Street, Costa Mesa, CA, 92627 $9,595,000 -- -- 18,012 18,012 SqFt
327 W Wilson #107, Costa Mesa, CA, 92627 $164,999 2 2 880 880 SqFt
327 W Wilson #80, Costa Mesa, CA, 92627 $144,990 2 1 768 768 SqFt
327 W Wilson #82, Costa Mesa, CA, 92627 $158,477 2 2 735 735 SqFt

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ByOwner last updated this listing 06/14/2026 @ 12:05

MLS: OC26116869 LISTED BY: Scott Gerard, Gerard Properties Inc. 714-964-9602 SOURCE: CRMLS

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