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Armand Martin

armand.martin@exprealty.com +1(661) 221-5011

$ 1,475,000

Est. payment | -/mo

5 Beds

3 Baths

1,927 SqFt

Save

$ 1,475,000

Est. payment | -/mo

Save

5 Beds

3 Baths

1,927 SqFt

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,927 sqft

Price per Sqft $765

MLS Listing ID 26897423

Style Traditional

Bedrooms 5

Year Built 1956

Lot Size 6,344 Sqft

Acres 0.1456

Property Sub-Type Multi-Family

Property Description

Experience the quintessential Old Towne Orange lifestyle with this fully stabilized two-on-a-lot income property, just one mile from Chapman University! The main residence (4BR/2BA, 1,522 sq.ft.) showcases authentic mid-century character with vaulted beamed ceilings, hardwood and tile flooring, dual-pane windows, and an open floor plan anchored by a cozy fireplace with sliding glass doors opening to the rear yard. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, and stainless appliances including a gas range and dishwasher. Every bedroom features generous closet space. The second residence (1BR/1BA, 405 sq.ft.), a permitted garage conversion completed in 2026, is brand new construction throughout and remains under contractor warranty, leased at $2,200 per month. Both units are leased through August 2027 with tenants covering all utilities, producing $6,950 per month with zero vacancy exposure. All maintenance items have been addressed, the main-house punch list was completed at lease-up, and the general contractor remains available to a new owner - no deferred maintenance and no near-term capital expenditures anticipated. Outside, enjoy a covered patio, mature front landscaping, a stone walkway, long driveway, carport and off-street parking, plus a large level rear yard offering a clean slate for turf, landscaping, and a dividing fence to give each unit its own private outdoor space. With a location just a short stroll to Chapman University, the Orange Circle, and the eclectic dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55 and 22 freeway access, this turn-key property is a high-demand rental or a perfect multi-generational setup. At the current list price of $1,475,000, in-place rents equate to approximately a 17.69X GRM and a 4.41% CAP Rate. Notably, the main residence was leased at $6,100 per month as recently as July 2026 - restored to that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate.

Location

State CA

County Orange

Area Old Towne Orange

Rooms

Other Rooms None

Interior

Heating Central

Cooling Air Conditioning, Central, Ceiling Fan

Flooring Hardwood

Fireplaces Type Living Room

Equipment Ceiling Fan, Dishwasher, Dryer, Freezer, Garbage Disposal, Hood Fan, Range/Oven, Refrigerator, Washer

Laundry Outside

Exterior

Parking Features Driveway

Garage Spaces 3.0

Pool None

Roof Type Composition, Shingle

Building

Lot Description Front Yard, Back Yard

Story 1

Sewer In Connected and Paid

Water Public

Architectural Style Traditional

Level or Stories One

Structure Type Stucco

Others

Special Listing Condition Standard

The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2026 The MLSTM/CLAW. All Rights Reserved.

The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.

Listed by Real Broker

Nearby Locations

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Armand Martin

+1(661) 221-5011

armand.martin@exprealty.com

526 N Emerald Dr Orange, CA 92868

Armand Martin

Key Details

Location

Rooms

Interior

Exterior

Building

Others

Nearby Locations

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526 N Emerald Dr