Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

1

Building size

1,327 sqft

Lot size

6,000 sqft

Year built

1955

Stories

1

Garage spaces

2

Heating

Central

Cooling

Central Air

Pool

None

View

None

Status

Active

Days on market

0

MLS #

248931120

About this property

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.

Location

1305 W Cherry

Orange, Orange, CA, 92868