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(626) 893-2817
Gilbert Garcia
1305 W Cherry, Orange, CA 92868
- $1,085,000
- List Price
- $1,085,000
- Status
- ACTIVE
- MLS#
- OC26230504
- Year Built
- 1955
- Lot Size
- 6,000
- Acres
- 0.14
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 16
- Property Type
- Single Family Residential
- Property Sub Type
- Single Family Residence
- Stories
- One Level
Property 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.
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Additional Information
- Pool Description
- None
- Fireplace Description
- Living Room
- Heat
- Central
- Cooling
- Yes
- Cooling Description
- Central Air
- View
- None
- Garage Spaces Total
- 2
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- All Bedrooms Down
- Attached Structure
- Detached
- Number Of Units Total
- 1
- Gross Scheduled Income
- $74,640
- Operating Expense
- 15000
Listing courtesy of Listing Agent: Jacob Neal (jacob.neal@bhhsdrysdale.com) from Listing Office: BHHS Drysdale Properties.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.