Property listed by Younglewin Advisors, Inc., Daniel Gomez 562-266-7629
461 N Citrus St
Orange, CA 92868
$2,295,000
Turnkey Student Housing! Built in 1901 and known as "The Parker House," said to be the 9th home ever built in Orange, this Victorian farmhouse has been reimagined into one of the most efficient Chapman University student housing assets on the market. Two detached units sit on an 8,579 SF… Read More lot: a 6 bed/4 bath main residence plus a brand new 2 bed/1 bath ADU completed in 2023. Both are leased through 5/31/2027 at $12,190 per month.
The main house has been comprehensively rehabbed with new electrical, plumbing, kitchens, baths, flooring, counters, windows, lighting and appliances, plus a reconfigured floor plan, while keeping the character that keeps students renewing year after year: soaring ten foot ceilings, pocket doors, a wraparound porch, hardwood floors, and 900+ SF of standup attic storage. Parking is abundant both on site and along the street, a rare advantage this close to campus. The home may also qualify for the Mills Act, offering a potential property tax reduction for the next owner.
Walking distance to Chapman University, Old Towne Orange Plaza, and the Metrolink station, with immediate freeway access. A turnkey, passive asset in the tightest student rental submarket in Orange County.
May be purchased individually or together with the contiguous listing at 456 N Batavia St (MLS# PW26153372) as a combined portfolio of two adjoining parcels. Read Less
Listing Snapshot
Days Online
40
Last Updated
Property Type
Duplex
Lot Size
0.2 Acres
Year Built
1901
MLS Number
PW26160701
Additional Details
Building
Built in 1901, 3 buildings, 2 stories, Levels: One, Two, Entry level: 1, Entry location: Street
Community
Biking, Curbs, DogPark, StreetLights, Sidewalks
Cooling
CentralAir
Expenses
Gardener: $1,200, Insurance: $4,070, Maintenance: $1,500, Operating: $40,395, Pest Control: $395, Other Expense: $1,200
Heating
Central
Home Owner's Association
Association Fee: $0
Income
Gross Income: $146,280, Gross ScheduledIncome: $146,280, Net Operating Income: $102,959
Laundry
Inside
Lot
0.1969 acres, ZeroToOneUnitAcre
Parking
7 open parking spaces, 7 total parking spaces, Driveway
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
