130 N Lester Drive, Orange, California 92868, Orange, 92868 - bed, bath

130 N Lester Drive, Orange, California 92868 home-pic-0
ACTIVE$1,350,000
130 N Lester Drive, Orange, California 92868
0Bed
0Bath
1,917Sqft
4,657Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Income Generation: The property is a fully leased income-generating asset with two detached homes, currently bringing in $7,000/month in rental income, making it an attractive investment.
Top Cons:
Age of Property: Built in 1947, the property's age, despite remodels, may present potential for unforeseen maintenance or efficiency challenges associated with older construction.

Compared to the nearby listings

Price:$1.35M vs avg $1.34M (+$7,500)50%
Size:1,917 sqft vs avg 2,006.5 sqft50%
Price/sqft:$704 vs avg $65075%

More Insights

Built in 1947 (78 years old).
Condition: Despite being built in 1947, this property has undergone significant and thoughtful renovations, bringing it to a 'good' condition. The front house features a modern farmhouse kitchen with stainless steel appliances, a farmhouse sink, and central heating/AC. The bathroom is updated with contemporary gray subway tiles and modern flooring. The back unit also boasts stainless steel appliances, concrete floors, copper plumbing, and wall-mounted AC. The overall aesthetic is fresh, clean, and move-in ready, indicating extensive updates within the last 5-15 years, making major systems functional and stylish.
Year Built
1947
Close
-
List price
$1.35M
Original List price
$1.35M
Price/Sqft
$704
HOA
-
Days on market
-
Sold On
-
MLS number
NP25142871
Home ConditionGood
Features
Patio
ViewNeighborhood

About this home

Two Homes on One Lot in the Heart of Orange! Incredible investment opportunity on one of the most charming streets in the City of Orange! This centrally located, fully leased income property features two detached homes on one lot, generating $7,000/month in rental income. The front house, originally built in 1947 and thoughtfully remodeled, is approximately 1,277 sq ft and currently leased furnished for $4,200/month. This stylish 2-bedroom, 1-bath home includes a sunroom that has been converted into a third bedroom . Inside, you'll find large windows, an open-concept living and dining space, and a farmhouse kitchen with stainless steel appliances, a farmhouse sink, and French doors. The home is equipped with central heating and AC, and the private covered patio includes a TV, ceiling fan, and seating area—perfect for relaxing or entertaining. The back house is a separate 2-bedroom, 1-bath unit measuring approximately 640 sq ft, currently leased furnished for $2,800/month. It features skylights, concrete floors, copper plumbing, vaulted ceilings with ceiling fans, wall-mounted AC, and stainless steel appliances. Full of character and natural light, this space is equally appealing to tenants. Whether you're an investor seeking strong cash flow or a buyer looking for a flexible multi-generational living setup, 130 N Lester Dr is a must-see!

Condition Rating
Good

Despite being built in 1947, this property has undergone significant and thoughtful renovations, bringing it to a 'good' condition. The front house features a modern farmhouse kitchen with stainless steel appliances, a farmhouse sink, and central heating/AC. The bathroom is updated with contemporary gray subway tiles and modern flooring. The back unit also boasts stainless steel appliances, concrete floors, copper plumbing, and wall-mounted AC. The overall aesthetic is fresh, clean, and move-in ready, indicating extensive updates within the last 5-15 years, making major systems functional and stylish.
Pros & Cons

Pros

Strong Income Generation: The property is a fully leased income-generating asset with two detached homes, currently bringing in $7,000/month in rental income, making it an attractive investment.
Multi-Unit Configuration: Featuring two separate detached homes on one lot, this property offers flexibility for investors seeking dual income streams or for multi-generational living arrangements.
Remodeled & Modernized Front Unit: The front house has been thoughtfully remodeled, boasting a stylish farmhouse kitchen with stainless steel appliances, central heating and AC, and an open-concept living space.
Furnished Leases: Both units are leased furnished, which can command higher rental rates and simplify tenant transitions, appealing to a specific market segment.
Desirable Location: Situated in the 'Heart of Orange' on a charming street, the property benefits from a central and appealing location within the city.

Cons

Age of Property: Built in 1947, the property's age, despite remodels, may present potential for unforeseen maintenance or efficiency challenges associated with older construction.
Varied Cooling Systems: While the front house has central AC, the back unit relies on less efficient wall-mounted AC, which might be a drawback for some tenants or during peak summer months.
Compact Lot Size: The lot size of 4657 sq ft for two detached homes may offer limited outdoor space, which could be a consideration for tenants or future buyers desiring larger yards.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state