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$ 2,525,000
Est. payment /mo
Active
331 N Olive Street Orange, CA 92866
6 Beds
3 Baths
6,600 Sqft Lot
UPDATED:
03/03/2025 04:57 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25043164
Bedrooms 6
HOA Y/N No
Lot Size 6,600 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Welcome to 331 N Olive St, Orange, CA, a high-performing, income-producing triplex in one of the most sought-after rental markets in Orange County. Located just minutes from Old Towne Orange and Chapman University, this property offers strong cash flow, long-term upside, and exceptional tenant demand. Property Breakdown & Rental Income 331 N Olive (Main House): 3 Bed, 1 Bath $5,140/month 333 N Olive (Detached Unit): 1 Bed, 1 Bath $2,595/month 335 N Olive (Brand-New ADU): 2 Bed, 1 Bath $3,795/month The property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. The rental rates have consistently increased over time, with demand remaining extremely high due to the propertys prime location near Chapman University and Orange Circle. Investment Metrics With a purchase price of $2,525,000, this property reflects a Gross Rent Multiplier (GRM) of 18.25 and a CAP rate of 4.11%, based on a 25% expense ratio. These figures highlight the strong income potential and stability of this investment in a high-demand rental market. Why This Property Stands Out Located in an R2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. The newly built ADU enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. Tenants are drawn to the location due to its walkability to Chapman University, Old Towne Oranges popular shops and restaurants, and other local amenities. With historically strong rental appreciation and a limited housing
Welcome to 331 N Olive St, Orange, CA, a high-performing, income-producing triplex in one of the most sought-after rental markets in Orange County. Located just minutes from Old Towne Orange and Chapman University, this property offers strong cash flow, long-term upside, and exceptional tenant demand. Property Breakdown & Rental Income 331 N Olive (Main House): 3 Bed, 1 Bath $5,140/month 333 N Olive (Detached Unit): 1 Bed, 1 Bath $2,595/month 335 N Olive (Brand-New ADU): 2 Bed, 1 Bath $3,795/month The property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. The rental rates have consistently increased over time, with demand remaining extremely high due to the propertys prime location near Chapman University and Orange Circle. Investment Metrics With a purchase price of $2,525,000, this property reflects a Gross Rent Multiplier (GRM) of 18.25 and a CAP rate of 4.11%, based on a 25% expense ratio. These figures highlight the strong income potential and stability of this investment in a high-demand rental market. Why This Property Stands Out Located in an R2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. The newly built ADU enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. Tenants are drawn to the location due to its walkability to Chapman University, Old Towne Oranges popular shops and restaurants, and other local amenities. With historically strong rental appreciation and a limited housing supply in the area, this property is positioned for long-term success. This is a rare opportunity to own a high-performing asset in one of Orange Countys most competitive rental markets.
Welcome to 331 N Olive St, Orange, CA, a high-performing, income-producing triplex in one of the most sought-after rental markets in Orange County. Located just minutes from Old Towne Orange and Chapman University, this property offers strong cash flow, long-term upside, and exceptional tenant demand. Property Breakdown & Rental Income 331 N Olive (Main House): 3 Bed, 1 Bath $5,140/month 333 N Olive (Detached Unit): 1 Bed, 1 Bath $2,595/month 335 N Olive (Brand-New ADU): 2 Bed, 1 Bath $3,795/month The property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. The rental rates have consistently increased over time, with demand remaining extremely high due to the propertys prime location near Chapman University and Orange Circle. Investment Metrics With a purchase price of $2,525,000, this property reflects a Gross Rent Multiplier (GRM) of 18.25 and a CAP rate of 4.11%, based on a 25% expense ratio. These figures highlight the strong income potential and stability of this investment in a high-demand rental market. Why This Property Stands Out Located in an R2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. The newly built ADU enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. Tenants are drawn to the location due to its walkability to Chapman University, Old Towne Oranges popular shops and restaurants, and other local amenities. With historically strong rental appreciation and a limited housing supply in the area, this property is positioned for long-term success. This is a rare opportunity to own a high-performing asset in one of Orange Countys most competitive rental markets.
Location
State CA
County Orange
Area Oc - Orange (92866)
Zoning Assessor
Building
Lot Description Sidewalks
Story 1
Lot Size Range 4000-7499 SF
Level or Stories 1 Story
Others
Acceptable Financing Cash, Conventional, Exchange
Space Rent $5,140
Listing Terms Cash, Conventional, Exchange
Listed by Jacob Neal • BHHS Drysdale Properties