417 N Citrus Street, Orange, California 92868, Orange, 92868 - 0 bed, 0 bath
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Orange, California 92868
This High-Yield Multi-Unit Asset is listed at $1,695,000, compared to a $1,398,167 Fair Market Value. While the list price reflects a premium for the newly constructed 2024-built ADU, the property justifies its valuation with a $109,920 Annual Gross Income and a 4.9% CAP rate. Maintaining a Good Condition Rating, the home features Granite Countertops, updated flooring, and a location steps from Chapman University. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a turnkey, income-producing residence in a high-demand rental market.
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 | 0 | 0 | 2,150 | $650 | - |
A 2244 W Beverly Drive Sold | $1,285,000 | 5 | 3 | 2,233 | $575 | 0.8 mi |
B 483 N Citrus Street Active | $1,890,000 List Price | 0 | 0 | 1,960 | $964 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property features a brand-new 2024 ADU in excellent condition with modern finishes. The main 1950s house is well-maintained and move-in ready with updated laminate flooring and granite countertops, though the kitchen cabinetry and wall oven in the front unit appear dated (15-20 years) and prevent an overall Excellent rating.
The property generates a robust gross monthly income of $9,160 with long-term leases already secured, providing immediate stability and an attractive 4.9% estimated CAP rate.
Located just steps from Chapman University, the property is positioned in a high-demand rental pocket that ensures consistently low vacancy rates and a steady stream of student tenants.
The inclusion of a brand-new 2024-built ADU adds significant value, featuring modern finishes and separate laundry, which appeals to premium renters and reduces immediate maintenance needs.
The front house was built in 1950, which may require more frequent maintenance or updates to its older systems compared to the newly constructed secondary unit.
Operating as a high-occupancy student rental typically results in increased wear and tear on the property, potentially leading to higher turnover and refurbishment costs over time.
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. CAP rate is an estimate based on projected operating expenses and is provided for discussion purposes only. Buyers should verify all income and expenses independently.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 4% |
| Baths | 0.0 | 2.0 | 4% |
| Square foot | 2,150 | 1,603 | 84% |
| Lot Size | 6,600 | 6,952 | 40% |
| Price | $1.70M | $1.02M | 88% |
| Price per sq ft | $788 | $667 | 64% |
| Built year | 1950 | 1955 | 20% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 126 | 12% |
Apr 28, 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