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Keller Williams
1305 W Cherry, Orange, CA 92868
- $1,085,000
- 4
- BD
- 2
- BA
- 1,327
- SqFt
- List Price
- $1,085,000
- Status
- ACTIVE
- Days on Market
- 3
- MLS#
- OC26220349
- Subtype
- Residential
- Year Built
- 1955
- Bedrooms
- 4
- Bathrooms
- 2
- Full Baths
- 2
- Living Area
- 1,327
- Lot Size
- 6,000
- Acres
- 0.14
- MLS Area Major
- Old Towne Orange (OTO)
Property Description
Excellent opportunity to own an income-producing property in the desirable City of Orange! Currently leased for $6,220 per month, the property generates $74,640 in annual gross rental income, with the existing lease running through May 31, 2027. The tenant pays all utilities, while the owner covers landscaping service, helping keep operating expenses low. Investors can benefit from immediate rental income with an established tenant in place, while future homeowners have the opportunity to collect rent now and potentially move in after the lease expires, subject to applicable tenancy requirements. The existing lease also allows the owner to construct an Accessory Dwelling Unit (ADU) within the garage during the lease term, subject to city permits and approvals, offering the potential for additional rental income or future personal use. Conveniently located near Chapman University, Old Towne Orange, shopping, dining, and major freeways, this property offers strong rental appeal and long-term flexibility for investors and future homeowners alike.
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Additional Information
- Interior Features
- All Bedrooms Down
- Heating
- Central
- Air Conditioning
- Yes
- Stories
- One Level
- Levels
- One
- Pool Type
- None
- Parking Features
- Door-Multi, Driveway, Garage
- Garage Spaces
- 2
- School District
- Orange Unified
- View
- None
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Listing courtesy of Listing Agent: Jacob Neal (jacob.neal@bhhsdrysdale.com) from Listing Office: BHHS Drysdale Properties.
Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.