815 E Collins, Orange, California 92867, Orange, 92867 - 3 bed, 2 bath
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Orange, California 92867
This Versatile Multi-Generational Residence is a Prime Investment Opportunity, listed at $1,344,500—positioned below the $1,384,331 Fair Market Value by 2%. This valuation gap offers $39,831 in Instant Equity for buyers. Maintaining a Condition Rating of 4, the home features a massive 13,125 sq ft lot with ADU potential and mountain views. Its unique layout with dual entries near Chapman University ensures high rental demand within the Orange Unified district. This is an ideal acquisition for Owner-Occupants seeking a house-hack or Multi-Generational Families.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 815 E Collins Subject | $1,344,500* List Price | 3 | 2 | 2,156 | $642 | - |
A 631 E Elizabeth Sold | $1,529,000 | 3 | 3 | 1,889 | $809 | 0.2 mi |
B 982 N Shaffer Street Sold | $1,238,500 | 4 | 2 | 1,800 | $688 | 0.2 mi |
C 527 N Park Lane Sold | $975,000 | 3 | 2 | 1,786 | $546 | 0.9 mi |
D 1127 E Adams Avenue Sold | $1,375,000 | 4 | 3 | 2,061 | $667 | 0.4 mi |
E 1056 N Shaffer Sold | $1,110,000 | 3 | 2 | 1,505 | $738 | 0.3 mi |
F 994 N Cleveland Street Sold | $1,525,000 | 3 | 3 | 2,916 | $523 | 0.2 mi |
G 918 N Cleveland Street Active | $1,425,000 List Price | 4 | 3 | 1,980 | $720 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, the home is functional and move-in ready with recent interior paint and a newer mini-split HVAC system. However, the kitchen and bathrooms are significantly dated (likely 20+ years old), and the property retains many original features that require modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 13125, living area = 2156.
Ideally situated near Chapman University and the historic Old Towne Orange Circle, offering high desirability for both owner-occupants and investment-focused buyers.
The massive 13,125 sq ft flat lot provides significant space for outdoor living or the construction of an ADU, offering a clear path to increased property value.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2156, other record living area = 2047.
Built in 1948, the property may require additional investment for modernizing older systems or structural elements common in homes of this era.
At a price point exceeding $1.3M, the three-bedroom configuration may be perceived as a limitation for larger families seeking more sleeping quarters.
Welcome to 815 E Collins Ave, ideally situated in the heart of the beautiful City of Orange—just moments from Chapman University and the vibrant, historic Old Towne Orange Circle. Set on an expansive 13,125 sq ft flat, usable lot, this unique property offers 2,156 sq ft of versatile living space with exceptional potential for multi-generational living or income opportunities. The home features a flexible layout with two separate entry points, allowing for the possibility of creating two distinct living areas. The rear portion of the home is already equipped with plumbing for a potential second kitchen, making it ideal for extended family or rental use. Freshly painted throughout, the interior offers a bright and welcoming family room, a functional kitchen with gas stove and oven, and a separate indoor laundry area. Additional highlights include a raised foundation, a mini-split A/C system providing both heating and cooling, and a detached 2-car garage. The circular front driveway and extended driveway leading to the rear of the property provide ample off-street parking—perfect for multiple occupants or guests. The spacious backyard offers endless possibilities, including room to build an ADU (buyer to verify), creating even more value and flexibility. Located within walking distance to Yorba Middle School, local dining, shopping, and entertainment—and just minutes from Chapman University—this property blends classic Orange charm with modern-day opportunity.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 36% |
| Baths | 2.0 | 3.0 | 50% |
| Square foot | 2,156 | 2,032 | 57% |
| Lot Size | 13,125 | 7,756 | 85% |
| Price | $1.34M | $1.34M | 50% |
| Price per sq ft | $624 | $660 | 37% |
| Built year | 1948 | 1963 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 31 | 135 | 6% |
May 6, 2026
$1,344,500
Initial Listing