Property listed by BHHS Drysdale Properties, Jacob Neal 209-642-2292
1305 W Cherry
Orange, CA 92868
$1,085,000
Excellent investment opportunity in the desirable City of Orange, just minutes from Chapman University and historic Old Towne Orange! This single-story, 4-bedroom, 2-bathroom home offers 1,327 square feet of living space on a 6,000-square-foot lot and is currently generating $6,220 per month in rental income, totaling $74,640 annually. With an… Read More existing lease in place through May 31, 2027, investors can begin collecting rental income immediately without the hassle of finding tenants. The tenant pays all utilities, while the owner is responsible for landscaping service, helping keep operating expenses low. The property's proximity to Chapman University, Old Towne Orange, shopping, dining, and major freeways makes it an attractive location for long-term rental demand. Another major opportunity is the potential to convert the existing two-car garage into an Accessory Dwelling Unit (ADU). The current lease specifically allows the owner to construct an ADU within the garage during the lease term, subject to city permits and approvals, providing an opportunity to increase rental income and maximize the property's potential. Whether you're looking to expand your rental portfolio, secure a property near Chapman University, or invest in a desirable Orange County location with future upside, this property offers immediate cash flow and long-term potential!
Property is tenant-occupied. Out of respect for tenant privacy, listing photos have been digitally edited and virtually staged to remove or replace personal furniture and belongings. No furniture shown will convey with the sale. Original, unedited photos are available upon request through the Listing Agent. Read Less
Listing Snapshot
Days Online
10
Last Updated
Property Type
SingleFamilyResidence
Lot Size
0.14 Acres
Year Built
1955
MLS Number
OC26230504
Additional Details
Building
Built in 1955, 1 building, 1 storey, Levels: One, Entry level: 1, Entry location: 1
Community
Sidewalks
Cooling
CentralAir
Expenses
Insurance: $800, Operating: $15,000
Fireplaces
LivingRoom
Garage
2 spaces
Heating
Central
Home Owner's Association
Association Fee: $0
Income
Gross Income: $74,640, Gross ScheduledIncome: $74,640, Net Operating Income: $59,640
Interior Features
AllBedroomsDown
Laundry
InGarage
Lot
0.1377 acres, ZeroToOneUnitAcre
Parking
2 total parking spaces, DoorMulti, Driveway, Garage
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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