New Listing
Description
Excellent opportunity to own an income-producing property in the desirable City of Orange! Currently leased for $6,220 per month, the property generates $74,640 in annual gross rental income, with the existing lease running through May 31, 2027. The tenant pays all utilities, while the owner covers landscaping service, helping keep operating expenses low. Investors can benefit from immediate rental income with an established tenant in place, while future homeowners have the opportunity to collect rent now and potentially move in after the lease expires, subject to applicable tenancy requirements. The existing lease also allows the owner to construct an Accessory Dwelling Unit (ADU) within the garage during the lease term, subject to city permits and approvals, offering the potential for additional rental income or future personal use. Conveniently located near Chapman University, Old Towne Orange, shopping, dining, and major freeways, this property offers strong rental appeal and long-term flexibility for investors and future homeowners alike.
Details
| MLS # | OC26220349 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1955 |
| Days On Site | 1 |
| Listing Provided By | BHHS Drysdale Properties | Jacob Neal |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,327 |
| Garage | 2 |
| Story(s) | 1 |
| Units | 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
| Attached Garage Yes / No | Yes |
|---|---|
| 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: $16,590 sqft: 1,327 low | high Med: 5,267 $ / sqft: $818 low | high Med: $3 On site: 1 low | high Med: 127 | |
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: $16,590 sqft: 1,327 low | high Med: 5,267 $ / sqft: $818 low | high Med: $3 On site: 1 low | high Med: 127 | |