Listed by Scott Gerard, Gerard Properties Inc., (714) 345-4223
$3,490,000
8 Beds
5 Baths
3,704 sqft (on 0.36 acres)
131 E 21st St, Costa Mesa, CA 92627
Est. Mortgage $21,082/mo*
Get Pre-QualifiedHome Highlights
Multi-Family
Built in 1961
0.36 acre lot
$942/sqft
Garage
Local Information
- Map ViewExplore the area around 131 E 21st St.
- Schools2 Elementary Schools1 Middle School1 High School
- Shop & Eat
-- mins to
About this House
SEE OFFERING MEMORANDUM IN SUPPLEMENTS. 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 private 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.
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 private 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.
Home Details for 131 E 21st St
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Interior Details Number of Rooms: 1Types of Rooms: Bedroom |
Beds & Baths Number of Bedrooms: 8Number of Bathrooms: 5 |
Appliances & Utilities Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water ConnectedAppliances: Dishwasher, Gas Oven, Gas Range, MicrowaveDishwasherLaundry: Washer Hookup,Gas Dryer HookupMicrowave |
Heating & Cooling Heating: Wall FurnaceNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Wall Furnace |
Gas & Electric Electric: Standard |
Windows, Doors, Floors & Walls Flooring: Carpet, TileCommon Walls: 1 Common Wall |
Levels, Entrance, & Accessibility Stories: 1Number of Stories: 1Levels: OneEntry Location: 1Accessibility: Safe Emergency Egress from Home, Parking, Accessible DoorsFloors: Carpet, Tile |
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Exterior Home Features Roof: ShingleNo Private Pool |
Parking & Garage Number of Garage Spaces: 6Number of Covered Spaces: 6Has a GarageNo Attached GarageParking Spaces: 8Parking: Door-Single,Driveway,Garage,One Space |
Pool Pool: None |
Frontage Not on Waterfront |
Water & Sewer Sewer: Public Sewer |
Surface & Elevation Elevation Units: Feet |
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Cumulative Days on Market: 82Days on Market: 99 |
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Year Built Year Built: 1961 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Building Not a New ConstructionAttached To Another StructureNo Additional Parcels |
Property Information Parcel Number: 42618213 |
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Price List Price: $3,490,000Price Per Sqft: $942 |
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MLS Status: Active |
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Direction & Address City: Costa MesaCommunity: Eastside Central (Eccm) |
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Listing Agent Listing ID: OC26116869 |
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Building Area Building Area: 3704 Square Feet |
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Community Features: Biking, Park, SidewalksNot Senior Community |
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Association for this Listing: California Regional MLSHOA Fee: No HOA Fee |
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Lot Area: 0.36 acres |
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Special Conditions: Standard |
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Contingencies: NoneListing Terms: Cash, Cash to New Loan, Conventional, Fannie Mae, Freddie Mac, Submit |
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Expense Tenant Pays: Electricity, Gas |
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Has Rent Control |
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Mls Number: OC26116869Living Area Range Units: Square FeetAttribution Contact: 714-345-4223Common Interest: NoneUniversal Property Id: US-06059-N-42618213-R-N |
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BikingParkSidewalksSource Internet Entire Listing Display |
Around this home
What Locals Say about Costa Mesa
At least 987 Trulia users voted on each feature.
92 % Say it's dog friendly
89 % Say there are sidewalks
84 % Say car is needed
78 % Say it's walkable to restaurants
71 % Say there's holiday spirit
70 % Say it's walkable to grocery stores
66 % Say streets are well-lit
66 % Say people would walk alone at night
62 % Say yards are well-kept
61 % Say parking is easy
61 % Say kids play outside
54 % Say it's quiet
54 % Say they plan to stay for at least 5 years
54 % Say neighbors are friendly
50 % Say there's wildlife
27 % Say there are community events
Sourced by Trulia users. Learn more about our methodology.
Market trends in Costa Mesa
Last updated July 2026
Avg. sale price
$1.38M
$7.13KMoM
Sale-to-List Price
99.0%
1.1%MoM
Price per sq ft
$834
$13MoM
Available listings
165
1MoM
Home Value
Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.
Comparable sales
These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.36 | Multi-Family Home | $1,760,000 | 08/27/26 | 6 | 6 | 3,802 | |
0.44 | Multi-Family Home | $2,010,000 | 03/11/26 | 7 | 6 | 3,232 | |
0.41 | Multi-Family Home | $1,878,000 | 07/02/26 | 6 | 6 | 3,114 | |
0.33 | Multi-Family Home | $2,500,000 | 02/10/26 | 6 | 4 | 3,807 | |
0.18 | Multi-Family Home | $1,980,000 | 03/06/26 | 4 | 4 | 2,074 | |
0.63 | Multi-Family Home | $2,855,000 | 04/20/26 | 7 | 4 | 3,355 | |
0.60 | Multi-Family Home | $2,125,000 | 04/30/26 | 6 | 3.5 | 2,693 | |
0.50 | Multi-Family Home | $1,425,000 | 05/11/26 | 6 | 3 | 2,490 | |
0.45 | Multi-Family Home | $2,825,000 | 06/01/26 | 4 | 4 | 2,079 |
Nearby home prices
Get a sense of expected prices in the area by checking the value of nearby homes.Address | Distance | Price | Bed | Bath | Sqft | Status |
|---|---|---|---|---|---|---|
0.01 | $1,840,800 | 3 | 3 | 1,920 | Off Market | |
0.02 | $1,900,000 | 3 | 3 | 1,920 | Recently Sold | |
0.05 | $172,000 | 1 | 1 | 616 | Off Market | |
0.05 | $135,000 | 2 | 1 | 728 | For Sale | |
0.05 | $89,999 | 1 | 1 | - | Recently Sold | |
0.06 | $232,100 | 3 | 2 | 960 | Off Market | |
0.14 | $3,191,700 | 4 | 4.5 | 3,174 | Off Market | |
0.15 | $2,151,500 | 2 | 1 | 900 | Off Market | |
0.15 | $1,220,000 | 3 | 2.5 | 1,734 | Recently Sold | |
0.13 | $1,950,000 | 3 | 2 | 1,452 | Recently Sold | |
0.17 | $1,693,100 | 4 | 2.5 | 2,258 | Off Market |
Price and Tax history
| Date | Event | Price |
|---|---|---|
Jun 3, 2026 Source: CRMLS #OC26116869 | Listed For Sale | $3,490,000 |
Mar 15, 2017 Source: Agent Provided | ListingRemoved | $2,695 |
Mar 2, 2017 Source: Agent Provided | PriceChange | $2,695 Price decreased by 4% |
Feb 1, 2017 Source: Agent Provided | PriceChange | $2,795 Price decreased by 0% |
Jan 30, 2017 Source: Agent Provided | Listed For Rent | $2,796 |
Sep 30, 2016 Source: Agent Provided | ListingRemoved | $2,795 |
Sep 17, 2014 Source: Agent Provided | ListingRemoved | $2,395 |
Aug 30, 2014 Source: Agent Provided | PriceChange | $2,395 Price decreased by 4% |
Aug 19, 2014 Source: Agent Provided | Listed For Rent | $2,495 |
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Scott Gerard, Gerard Properties Inc.
Agent Phone: (714) 345-4223
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-09-09 11:26:56 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Based on information from California Regional Multiple Listing Service, Inc. as of 2026-09-09 11:26:56 PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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Frequently asked questions about 131 E 21st St
- What is the estimated monthly payment for 131 E 21st St?Based on a $3,490,000 list price with 20% down at today's rates, the estimated monthly payment for 131 E 21st St in Costa Mesa, CA is approximately $21,793 (about $18,635 principal & interest, $3,083 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
- How does the list price for 131 E 21st St compare to homes in Costa Mesa?131 E 21st St in Costa Mesa, CA is listed at $3,490,000, about 153% above the $1.38M median sale price in Costa Mesa.
- What do residents say about Costa Mesa?Residents describe Costa Mesa, CA as dog-friendly, pedestrian-friendly, and walkable to restaurants. See homes for sale in Costa Mesa, CA.
- What are the closest schools to 131 E 21st St?The closest schools to 131 E 21st St in Costa Mesa, CA are Heinz Kaiser Elementary School (rated 8/10), Horace Ensign Intermediate School (rated 9/10), Newport Harbor High School (rated 9/10).
- Does 131 E 21st St have laundry facilities?Yes, 131 E 21st St in Costa Mesa, CA has laundry facilities.
131 E 21st St, Costa Mesa, CA 92627 is a 8 bedroom, 5 bathroom, 3,704 sqft multi-family built in 1961. This property is currently available for sale and was listed by CRMLS on Jun 3, 2026. The MLS # for this home is MLS# OC26116869.