611 W Walnut Avenue, Orange, California 92868, Orange, 92868 - 2 bed, 1 bath

611 W Walnut Avenue, Orange, California 92868 home-pic-0
ACTIVE$1,224,500
611 W Walnut Avenue, Orange, California 92868
2Beds
1Bath
792Sqft
3,524Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Prime Investment Opportunity: Explicitly marketed as a prime investment, offering reliable returns and appreciation potential in a high-demand market.
Top Cons:
Age of Property: Built in 1947, suggesting potential for older infrastructure, systems, and higher ongoing maintenance costs compared to newer constructions, despite 'updated features' not being fully detailed.

Compared to the nearby listings

Price:$1.22M vs avg $995.0K (+$229,500)92%
Size:792 sqft vs avg 1,499 sqft3%
Price/sqft:$1.5K vs avg $65597%

More Insights

Built in 1947 (78 years old).
Condition: Despite being built in 1947, this property has undergone a significant and relatively recent renovation, making it move-in ready. The interior features modern LVP flooring, fresh white paint, and updated light fixtures. The kitchen boasts white shaker-style cabinets, a clean light green subway tile backsplash, a modern stainless steel refrigerator, and a white gas range, all appearing well-maintained. A modern outdoor AC unit and an indoor mini-split system indicate updated cooling/heating. While the red countertops are a distinct style choice, they appear new. The overall condition suggests a renovation within the last 5-15 years, aligning with the 'Good' criteria for a well-maintained property with functional, updated systems and minimal wear and tear.
Year Built
1947
Close
-
List price
$1.22M
Original List price
$1.25M
Price/Sqft
$1,546
HOA
-
Days on market
-
Sold On
-
MLS number
OC25121417
Home ConditionGood
Features
Patio
View-

About this home

A prime investment opportunity at 611 and 613 W Walnut in Orange, California. Located just minutes from Chapman University, these two standalone homes—each featuring 2 bedrooms and 2 bathrooms—offer stable rental income in a high-demand student housing market. The homes are fully leased, with 611 W Walnut bringing in $3,150 monthly and 613 W Walnut achieving a strong $3,425 monthly rent, showcasing the property's upside potential. The below-market rent at 611 highlights a clear path for future income growth, while the higher rent at 613 sets the benchmark for what both homes can achieve. Both units cater perfectly to Chapman students seeking privacy, modern amenities, and proximity to campus. Situated on a quiet, permit-only parking street with updated features and strong rental appeal, these properties are easy to lease and ideal for hands-off ownership. With stabilized tenants, consistent demand from Chapman’s growing student population, and the proven rent performance of 613, this offering provides a compelling mix of immediate income and future upside. Whether you're a seasoned investor or looking to break into the Orange market, 611 and 613 W Walnut deliver the kind of reliable returns and appreciation potential that make for a smart long-term hold.

Condition Rating
Good

Despite being built in 1947, this property has undergone a significant and relatively recent renovation, making it move-in ready. The interior features modern LVP flooring, fresh white paint, and updated light fixtures. The kitchen boasts white shaker-style cabinets, a clean light green subway tile backsplash, a modern stainless steel refrigerator, and a white gas range, all appearing well-maintained. A modern outdoor AC unit and an indoor mini-split system indicate updated cooling/heating. While the red countertops are a distinct style choice, they appear new. The overall condition suggests a renovation within the last 5-15 years, aligning with the 'Good' criteria for a well-maintained property with functional, updated systems and minimal wear and tear.
Pros & Cons

Pros

Prime Investment Opportunity: Explicitly marketed as a prime investment, offering reliable returns and appreciation potential in a high-demand market.
Dual Income Property: Comprises two standalone homes, providing diversified and stable rental income streams from separate units.
High-Demand Student Housing Market: Strategically located minutes from Chapman University, ensuring consistent tenant demand and ease of leasing for student residents.
Immediate Income with Upside Potential: Fully leased with strong current income, and one unit (611 W Walnut) is noted to be below market, indicating clear rent growth potential.
Desirable Tenant Features & Location: Units offer privacy, updated features, and proximity to campus on a quiet, permit-only parking street, appealing to the target student demographic.

Cons

Age of Property: Built in 1947, suggesting potential for older infrastructure, systems, and higher ongoing maintenance costs compared to newer constructions, despite 'updated features' not being fully detailed.
Reliance on Specific Tenant Demographic: While high-demand, dependence on the student housing market can lead to seasonal vacancies, higher tenant turnover, and potentially increased wear and tear on the properties.
Ambiguous Unit Specifications: The general listing details (beds:2, baths:1, sqft:792) conflict with the description of 'two standalone homes—each featuring 2 bedrooms and 2 bathrooms,' creating confusion regarding the actual size and configuration of each unit.

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