417 N Citrus Street, Orange, California 92868, Orange, 92868 - 6 bed, 3 bath
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Orange, California 92868
This Dual-Unit Income Asset is listed at $1,695,000, positioned above the $1,411,686 Fair Market Value due to its exceptional revenue-generating capacity near Chapman University. The property produces $109,920 in Annual Gross Income with a 4.9% CAP Rate, benefiting from a newly completed 2024-built ADU and a renovated primary residence. Boasting a Mint Condition Rating and a private patio within the Orange Unified district, the estate offers long-term stability and high rental demand. This turnkey investment is optimized for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 417 N Citrus Street Subject | $1,695,000* List Price | 6 | 3 | 2,150 | $657 | - |
A 2244 W Beverly Drive Sold | $1,285,000 | 5 | 3 | 2,233 | $575 | 0.8 mi |
B 130 -132 S Lime Street Active | $1,699,900 List Price | 6 | 3 | 2,105 | $808 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
The property includes a brand-new ADU completed in 2024 with modern kitchen cabinetry, stainless appliances, and mini-split HVAC systems. The primary residence, though built in 1950, has undergone recent renovations including updated LVP flooring and fresh paint, presenting in mint, move-in ready condition with minimal maintenance required.
The property generates a robust $9,160 monthly gross income with long-term leases in place, offering an attractive 4.9% CAP rate and immediate cash flow for investors.
Located just steps from Chapman University, the property benefits from a perpetual student tenant base and high rental demand, ensuring historically low vacancy rates.
The newly completed 2024 ADU provides a turnkey, high-efficiency living space with separate laundry, significantly increasing the property's total value and rental appeal.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2150, other record living area = 1401. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 6, other record bedroom count = 4.
The main front house dates back to 1950, which may necessitate higher long-term maintenance costs or future capital expenditures compared to the newly built ADU.
With six bedrooms across two units on a 6,600 sqft lot, the property may face challenges regarding private outdoor space and parking availability for a full roster of tenants.
Located in the heart of Orange, just steps from Chapman University, 417 N Citrus Ave offers a proven income-producing setup with strong in-place rents and long-term upside. The property includes a 4 bedroom, 2 bathroom front house and a newly built 2 bedroom, 1 bathroom ADU (419) completed in 2024. The front home features a flexible layout with a variety of room sizes, ideal for student housing or a traditional living setup. The ADU is finished with modern touches and an efficient design, creating a separate and private living space. Each unit has its own laundry. The front house includes a washer and dryer in the garage, while the ADU has its own in-unit washer and dryer, making both spaces fully functional for Tenants. Strong rental income is already in place. The front house is leased at $5,960 per month through May 31, 2026. The ADU is leased at $3,200 per month through May 31, 2027, providing immediate cash flow and stability. Combined gross income is $9,160 per month, or $109,920 annually. At the current list price of $1,695,000, this equates to approximately a 15.4 GRM and an estimated 4.9% CAP rate, benefiting from a low expense profile with Tenants paying utilities and minimal ongoing maintenance. With its close proximity to Chapman University and surrounding amenities, this property consistently attracts strong rental demand from students and long-term tenants alike. This is also a great opportunity to house hack, live in one unit while collecting income from the other, or continue operating it as a fully leased investment property in one of Orange’s most desirable rental locations.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 6.0 | 3.0 | 96% |
| Baths | 3.0 | 2.0 | 81% |
| Square foot | 2,150 | 1,572.5 | 85% |
| Lot Size | 6,600 | 6,864 | 46% |
| Price | $1.70M | $1.04M | 96% |
| Price per sq ft | $788 | $688 | 73% |
| Built year | 1950 | 1956 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 5 | 167 | 4% |
Apr 17, 2026
$1,695,000
Initial Listing
Aug 5, 2022
$892,000
Public Record
Sep 23, 2009
$390,000
Public Record
Dec 12, 2001
$280,000
Public Record