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Listed by Randall Mycorn, DRE #02078223 • R L M Equities
$ 5,265,000
Est. payment /mo
Price Dropped by $60K
875 N Olive Orange, CA 92867
0.44 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRNP26109126
Year Built 1993
Lot Size 0.442 Acres
Source California Regional MLS
Property Description
875 N. Olive St. represents a rare, pride-of-ownership turnkey asset delivering an exceptionally high cap rate in the coveted Orange market. The property features ten original 1993-built, dual-master 2-bed/2-bath units with AC, all tastefully renovated and leased in 2025. Maximizing the asset's footprint, five single-car garages were fully permitted and converted into two brand-new units completed in 2026: a 2-bed/2-bath unit and an ADA-compliant 1-bed/1-bath unit. Investors will benefit from immediate stabilized cash flow with minimal deferred maintenance, anchored by a brand-new, energy-efficient central boiler system. Situated just north of Chapman Avenue, the property boasts a premier location steps from the historic Old Towne Orange Circle, offering tenants convenient access to local dining, retail, and entertainment. Its proximity to Chapman University provides a reliable, high-quality tenant pool, while nearby access to the Orange Metrolink Station and major freeways ensures excellent regional connectivity. This low-maintenance, high-yield asset is ideally positioned for a 1031 exchange or a private capital investor seeking a premium North Orange County multifamily property.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Laundry None, Washer/Dryer - Leased
Exterior
Garage Spaces 17.0
Pool None
Building
Water District - Public
Others
Tax ID 38643419
Special Listing Condition Not Applicable
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