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Listed by Jacob Neal • BHHS Drysdale Properties
$ 1,095,000
Est. payment /mo
Pending
526 N Emerald DR Orange, CA 92868
6,344 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID CROC25195596
Year Built 1956
Lot Size 6,344 Sqft
Source California Regional MLS
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 Orange's 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 property's existing performance. Location is a key driver of value. 526 N Emerald s
Location
State CA
County Orange
Area Oto - Old Towne Orange
Rooms
Kitchen Dishwasher, Oven Range, Refrigerator
Interior
Laundry Other
Exterior
Parking Features Garage
Garage Spaces 2.0
Pool None
Building
Story One Story
Water District - Public
Others
Tax ID 03929211
Special Listing Condition Not Applicable
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