505 N Hewes, Orange, California 92869, Orange, 92869 - 3 bed, 2 bath
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Orange, California 92869
This property presents a High-Potential Investment Opportunity with a List Price of $1,099,000, positioned above the $1,051,608 Fair Market Value. While not an instant equity play, the asset offers stable, immediate cash flow via a long-term tenant paying $3,800 monthly. With a Condition Rating of 4, the home provides a solid foundation for future modernization. The 8,000 square foot lot offers significant upside for expansion or ADU development. This is a reliable, income-producing Buy-and-Hold Asset ideal for Buy-and-Hold Investors or long-term wealth builders.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 505 N Hewes Subject | $1,099,000* List Price | 3 | 2 | 1,668 | $630 | - |
A 3801 E Spring Street Sold | $950,000 | 5 | 3 | 1,881 | $505 | 0.5 mi |
B 19042 E Center Sold | $1,010,000 | 3 | 2 | 1,217 | $830 | 0.5 mi |
C 4024 E Del Valle Sold | $1,145,000 | 5 | 3 | 2,145 | $534 | 0.3 mi |
D 4244 E Ruth Place Sold | $1,260,000 | 3 | 2 | 1,500 | $840 | 1.0 mi |
E 478 N Swidler Sold | $1,162,500 | 4 | 3 | 1,881 | $618 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1950 and occupied by the same tenant for 18 years, indicating dated kitchen and bathroom fixtures. The use of a window AC unit suggests the lack of a modern central HVAC system. While the interior shows updated laminate flooring, the overall age and long-term rental status point to a property that is functional but requires modernization of systems and finishes.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 8000, living area = 1668.
The property features a reliable long-term tenant of 18 years currently paying $3,800 per month with a willingness to increase rent, offering immediate and secure cash flow for investors.
Situated on an 8,000-square-foot lot, the property provides significant outdoor space and excellent potential for future expansion or the addition of an Accessory Dwelling Unit (ADU).
Built in 1950, the home may require ongoing maintenance or capital improvements to aging systems and infrastructure to meet modern efficiency standards.
As the property is marketed specifically as a turnkey investment with a tenant who wishes to remain, it may be less attractive to buyers seeking a primary residence for immediate move-in.
Welcome to 505 N. Hewes Street, Orange, CA — a rare investment opportunity featuring a well-maintained 3-bedroom, 2-bathroom home offering approximately 1,800 square feet of living space on a generous 7,400 square foot lot. This property comes with an exceptional long-term tenant who has proudly called this home for over 18 years, providing stable and reliable rental income. Currently leased at $3,800 per month, the tenant has expressed a strong desire to remain and is willing to pay a higher rent to continue occupying the property, making this an ideal turnkey investment for both seasoned and first-time investors. The spacious floor plan, large lot size, and desirable Orange location offer excellent long-term value and future upside potential. Conveniently located near schools, shopping, dining, parks, and major freeways, this property combines dependable cash flow with the benefits of ownership in one of Orange County’s most sought-after communities. Don’t miss this opportunity to acquire a solid income-producing property with a proven rental history and a tenant who truly values calling this house home.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 4.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,668 | 1,811.5 |
| Lot Size | 8,000 | 7,259 |
| Price | $1.10M | $1.32M |
| Price per sq ft | $659 | $683 |
| Built year | 1950 | 1963 |
| HOA | $0 | $150 |
| Days on market | 26 | 44 |
Jun 26, 2026
$1,099,000
Initial Listing
Jun 5, 2009
$302,000
Public Record
Apr 15, 2004
$507,000
Public Record
Apr 4, 2003
$375,000
Public Record
Dec 26, 2002
$345,000
Public Record