Description
Excellent investment opportunity in the desirable City of Orange, just minutes from Chapman University and historic Old Towne Orange! This single-story, 4-bedroom, 2-bathroom home offers 1,327 square feet of living space on a 6,000-square-foot lot and is currently generating $6,220 per month in rental income, totaling $74,640 annually. With an existing lease in place through May 31, 2027, investors can begin collecting rental income immediately without the hassle of finding tenants. The tenant pays all utilities, while the owner is responsible for landscaping service, helping keep operating expenses low. The property's proximity to Chapman University, Old Towne Orange, shopping, dining, and major freeways makes it an attractive location for long-term rental demand. Another major opportunity is the potential to convert the existing two-car garage into an Accessory Dwelling Unit (ADU). The current lease specifically allows the owner to construct an ADU within the garage during the lease term, subject to city permits and approvals, providing an opportunity to increase rental income and maximize the property's potential. Whether you're looking to expand your rental portfolio, secure a property near Chapman University, or invest in a desirable Orange County location with future upside, this property offers immediate cash flow and long-term potential! Property is tenant-occupied. Out of respect for tenant privacy, listing photos have been digitally edited and virtually staged to remove or replace personal furniture and belongings. No furniture shown will convey with the sale. Original, unedited photos are available upon request through the Listing Agent.
Details
| MLS # | OC26230504 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 7 |
| Listing Provided By | BHHS Drysdale Properties | Jacob Neal |
Features
| SQ Feet | 1,327 |
|---|---|
| Garage | 2 |
| Story(s) | 1 |
| Units | 1 |
| Building(s) | 1 |
| Acreage | 0.14 |
| Property View | None |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Interior Features | All Bedrooms Down |
| Fireplace Yes / No | Yes |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Parking Features | Door Multi, Driveway, Garage |
|---|---|
| Garage Yes / No | Yes |
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Sidewalks |
|---|
Area Information
| State | CA |
|---|---|
| County | Orange |
| City | Orange |
| Zip Code | 92868 |
| Area | OTO Old Towne Orange |
| Listing VS Median (in 92868) | |
Price: $1,085,000 low | high Med: $482,450 sqft: 1,327 low | high Med: 772 $ / sqft: $818 low | high Med: $660 On site: 7 low | high Med: 15.5 | |
Market Activity 92868
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Learn More About This Property
| State | CA |
|---|---|
| County | Orange |
| City | Orange |
| Zip Code | 92868 |
| Area | OTO Old Towne Orange |
| Listing VS Median (in 92868) | |
Price: $1,085,000 low | high Med: $482,450 sqft: 1,327 low | high Med: 772 $ / sqft: $818 low | high Med: $660 On site: 7 low | high Med: 15.5 | |
 | $1,085,0001305 W CherryOrange, CA 92868 |
