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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 : ResidentialIncome

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

Subdivision: Country Club Estates

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Feature Features

  • Interior Features

    All Bedrooms Down
    Roof: Shingle
    Appliances: Dishwasher, Gas Oven, Gas Range, Microwave
    Laundry Features: Washer Hookup, Gas Dryer Hookup
  • Heating & Cooling

    Has Heating: Yes Heating: Wall Furnace Cooling: None

  • Building Information

    Year Built: 1961
    Building Area Total: 3704
    Stories: 1
    Pool Features: None
    Private Pool: No

  • Lot Information

    Main Square Feet: 15746 Lot Size Acres: 0.3615 Lot Size Source: Public Records Lot Size Square Feet: 15,746 Lot Description: 0-1 Unit/Acre

    Property Information

    Subdivision: Eastside Central (ECCM) Source Property Type: Residential Income Property SubType: Apartment Levels: One Property Age: 65

  • Listing Price Information

    Listing Price: $3490000
    Cash, Cash to New Loan, Conventional, Fannie Mae, Freddie Mac, Submit

  • Tax Information

    Parcel Number: 42618213 Tax Lot: 241

  • Parking Information

    Parking Total: 8 Door-Single, Driveway, Garage, One Space

    Garage Information

    Has Garage: Yes Garage Space: 6

  • Utility Information

    Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
  • Location Information

    Direction: Newport Blvd and 21st St WaterSource: Public
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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 5 3,887 3,887 SqFt
267 Mesa Dr, Costa Mesa, CA, 92627 $2,549,000 5 4 3,188 3,188 SqFt
273 Mesa, Costa Mesa, CA, 92627 $2,095,000 4 3 2,177 2,177 SqFt
302 Canoe Pond, Costa Mesa, CA, 92627 $1,759,000 3 3 1,755 1,755 SqFt
315 University Drive, Costa Mesa, CA, 92627 $2,675,000 2 2 1,225 1,225 SqFt
2608 Fairway, Costa Mesa, CA, 92627 $2,995,000 5 4 2,403 2,403 SqFt
2463 Irvine Avenue #A2, Costa Mesa, CA, 92627 $1,498,000 3 3 1,904 1,904 SqFt
2573 Elden Avenue #D, Costa Mesa, CA, 92627 $1,898,000 4 3 2,400 2,400 SqFt
306 Campbell Lane, Costa Mesa, CA, 92627 $1,475,000 3 3 1,707 1,707 SqFt
2336 Cynthia Court, Costa Mesa, CA, 92627 $1,895,000 4 2 1,792 1,792 SqFt

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ByOwner last updated this listing 08/01/2026 @ 13:03

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

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