1305 W Cherry, Orange, California 92868, Orange, 92868 - 4 bed, 2 bath
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1305 W Cherry
Orange, California 92868
ACTIVE
CONDITION: EXCELLENT
4Beds
2Baths
1,327Sq Ft
6,000Lot Size
Property Price
LIST PRICE$1,085,000
EST. MARKET VALUE
$1,047,844
3% AboveMARKET VALUE
SUMMARY
This property represents a High-Potential Investment Opportunity, listed at $1,085,000—positioned slightly above the $1,047,845 Fair Market Value. Despite the premium, the asset delivers immediate, stable cash flow with a gross annual income of $74,640 through May 2027. Featuring a Mint Condition Rating with modern kitchen and bath renovations, the home offers significant upside via the permitted ADU conversion potential. Its proximity to Chapman University ensures long-term rental demand. This is a strategic acquisition for Buy-and-Hold Investors or future homeowners seeking a turnkey, income-producing asset.
Estimated Market Value
$1,047,844
Based on Realkey algorithm analyzing recent comparable sales in Orange.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1305 W Cherry Subject 4 bd · 2 ba · 1,327 sqft · $790 | $1,085,000* List Price | 4 | 2 | 1,327 | $790 | - |
A 278 N Citrus Sold 3 bd · 2 ba · 1,297 sqft · $740 · 0.3 mi | $960,000 | 3 | 2 | 1,297 | $740 | 0.3 mi |
B 1127 Acacia Sold 4 bd · 2 ba · 1,499 sqft · $751 · 0.2 mi | $1,125,000 | 4 | 2 | 1,499 | $751 | 0.2 mi |
C 266 S Citrus Street Sold 3 bd · 2 ba · 1,286 sqft · $743 · 0.7 mi | $956,000 | 3 | 2 | 1,286 | $743 | 0.7 mi |
D 424 S Lilac Sold 3 bd · 2 ba · 1,146 sqft · $860 · 1.0 mi | $985,000 | 3 | 2 | 1,146 | $860 | 1.0 mi |
E 2027 W Arbor Way Sold 4 bd · 2 ba · 1,246 sqft · $746 · 0.6 mi | $930,000 | 4 | 2 | 1,246 | $746 | 0.6 mi |
F 179 N Donneybrooke Street Sold 3 bd · 1 ba · 961 sqft · $882 · 0.8 mi | $848,000 | 3 | 1 | 961 | $882 | 0.8 mi |
G 164 N Stevens Sold 2 bd · 1 ba · 908 sqft · $991 · 0.7 mi | $900,000 | 2 | 1 | 908 | $991 | 0.7 mi |
H 2003 W Willow Avenue Active 4 bd · 2 ba · 1,632 sqft · $673 · 0.5 mi | $1,099,000 List Price | 4 | 2 | 1,632 | $673 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Excellent
TeardownExcellent
Property is new construction or fully renovated.
While originally built in 1955, the property has undergone a high-quality recent renovation (likely within the last 5 years). The kitchen features modern white cabinetry, quartz countertops, and subway tile backsplashes, while the bathrooms have been fully updated with contemporary vanities and fixtures. The interior shows mint condition with updated flooring and systems, requiring no immediate maintenance.
PROSSTRENGTHS & OPPORTUNITIES
- High Rental Yield
The property generates a robust $6,220 monthly gross income with a lease secured through May 2027, offering immediate and stable cash flow for investors at a competitive cap rate.
- Value-Add ADU Potential
The existing lease terms permit the owner to construct an Accessory Dwelling Unit (ADU) within the garage during the tenancy, providing a significant opportunity to increase density and future revenue.
- Prime University Location
Situated near Chapman University and Old Towne Orange, the property benefits from a high-demand rental market and proximity to premium dining, shopping, and major transportation hubs.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Deferred Possession
The long-term lease commitment through mid-2027 precludes owner-occupants from moving in immediately, effectively limiting the buyer pool to strictly long-term investors.
- Vintage Infrastructure
Originally built in 1955, the property may require higher maintenance costs or future capital expenditures for system upgrades compared to newer residential developments.
About 1305 W Cherry
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.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1955
- Lot Size
- 6,000 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.7 |
| Baths | 2.0 | 2.4 |
| Square foot | 1,327 | 1,817.719 |
| Lot Size | 6,000 | 7,240.844 |
| Price | $1.08M | $1.29M |
| Price per sq ft | $818 | $696 |
| Built year | 1955 | 1964 |
| HOA | $0 | $169 |
| Days on market | 16 | 48 |
Pricing History
Listed for Sale
Oct 9, 2026
$1,085,000
Initial Listing
Sold
Oct 22, 2020
$730,000
Public Record
Sold
Jul 2, 2002
$273,000
Public Record