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Diego Magdaleno

diego@1visionproperties.com +1(714) 376-8652

$1,695,000

Est. payment - /mo

6,599 Sqft Lot

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UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Subdivision Unknown

MLS Listing ID OC26092289

HOA Y/N No

Rental Info 12 Months

Year Built 1950

Lot Size 6,599 Sqft

Property Sub-Type Single Family Residence

Property Description

Located in the heart of Orange, just steps from Chapman University, 417 N Citrus Ave offers a proven income-producing setup with strong in-place rents and long-term upside.

The property includes a 4 bedroom, 2 bathroom front house and a newly built 2 bedroom, 1 bathroom ADU (419) completed in 2024. The front home features a flexible layout with a variety of room sizes, ideal for student housing or a traditional living setup. The ADU is finished with modern touches and an efficient design, creating a separate and private living space.

Each unit has its own laundry. The front house includes a washer and dryer in the garage, while the ADU has its own in-unit washer and dryer, making both spaces fully functional for Tenants.

Strong rental income is already in place. The front house is leased at $5,960 per month through May 31, 2026. The ADU is leased at $3,200 per month through May 31, 2027, providing immediate cash flow and stability. Combined gross income is $9,160 per month, or $109,920 annually.

At the current list price of $1,695,000, this equates to approximately a 15.4 GRM and an estimated 4.9% CAP rate, benefiting from a low expense profile with Tenants paying utilities and minimal ongoing maintenance.

With its close proximity to Chapman University and surrounding amenities, this property consistently attracts strong rental demand from students and long-term tenants alike.

This is also a great opportunity to house hack, live in one unit while collecting income from the other, or continue operating it as a fully leased investment property in one of Orange's most desirable rental locations.

CAP rate is an estimate based on projected operating expenses and is provided for discussion purposes only. Buyers should verify all income and expenses independently.

Location

State CA

County Orange

Area 72 - Orange & Garden Grove, E Of Harbor, N Of 22 F

Interior

Interior Features All Bedrooms Down

Cooling Central Air

Fireplaces Type Living Room

Fireplace Yes

Laundry In Garage

Exterior

Garage Spaces 2.0

Garage Description 2.0

Pool None

Community Features Sidewalks

View Y/N Yes

View Neighborhood

Total Parking Spaces 2

Private Pool No

Building

Lot Description 2-5 Units/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 03901217

Acceptable Financing Cash, Conventional, 1031 Exchange, Submit

Listing Terms Cash, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

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Listed by Jacob Neal BHHS Drysdale Properties 209-642-2292, DRE #02097852

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417 N Citrus ST Orange, CA 92868