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$ 1,095,000
Est. payment | /mo
4 Beds
6,344 Sqft Lot
$ 1,095,000
Est. payment | /mo
4 Beds
6,344 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
MLS Listing ID OC25195596
Bedrooms 4
Lot Size 6,344 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
526 N Emerald presents a prime investment opportunity in the heart of Orange, California, just minutes from Chapman University. This four bedroom, two bathroom home is fully leased through June 30, 2026, generating $6,285 per month or $75,420 annually in rental income. At the offered price of $1,090,000, the property reflects a GRM of approximately 14.5 and a projected 5.2 percent CAP rate assuming 25 percent expenses. With a long term lease in place, the asset delivers immediate cash flow, stable returns, and minimal turnover risk in one of Oranges most desirable student housing corridors. The home is designed with student living in mind, featuring private bedrooms, generous common areas, and a layout well-suited for roommates. Durable finishes and low-maintenance systems ensure straightforward management, while outdoor space adds further appeal for tenants. A major value add opportunity exists through the potential conversion of the garage into an ADU. The current lease already permits an ADU to be built, and similar units in the area typically command $2,000 to $2,500 per month in additional rental income. This presents a clear path for investors to increase returns well beyond the propertys existing performance. Location is a key driver of value. 526 N Emerald sits within walking and biking distance of Chapman University, Dodge College of Film and Media Arts, and Old Towne Oranges shops and restaurants. With consistent demand and low vacancy, the property is ideally positioned for ongoing rental success. Its quiet residential setting, paired with proximity to major free
Location
State CA
County Orange
Zoning Assessor
Direction Head west on E Palm Ave, turn right onto N Glassell St, left onto W Collins Ave, then right onto N Emerald Dr the house will be
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 03929211
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
Listed by Jacob Neal BHHS Drysdale Properties