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817 E Palmyra Avenue, Orange, California 92866, Orange, 92866 - 4 bed, 4 bath

817 E Palmyra Avenue, Orange, California 92866 home-pic-0
ACTIVE$1,499,999
817 E Palmyra Avenue, Orange, California 92866
4Beds
4Baths
1,656Sqft
6,970Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Income-Generating Asset: The property is a duplex with an additional third unit (converted garage), all currently rented, providing immediate and diversified cash flow for investors.
Top Cons:
Age of Property (Potential for System Updates): Built in 1923, the property's age suggests potential for aging infrastructure (plumbing, electrical, HVAC) that may require significant capital expenditures in the future, despite being 'maintained'.

Compared to the nearby listings

Price:$1.50M vs avg $1.30M (+$198,999)83%
Size:1,656 sqft vs avg 2,032.5 sqft33%
Price/sqft:$906 vs avg $66392%

More Insights

Built in 1923 (102 years old).
Condition: Built in 1923, this Craftsman-style duplex has been beautifully maintained and features significant recent updates in key areas. The kitchen (Image 8) boasts modern white shaker cabinets, quartz countertops, stainless steel appliances, and a contemporary range hood, indicating an excellent renovation. One bathroom (Image 10) also shows modern updates with a corner shower and new flooring. While some areas retain older charm with hardwood floors and ceiling fans, and a window AC unit is visible in one bedroom (Image 4), suggesting not all units have central HVAC, the overall condition is move-in ready. The property blends vintage character with modern functionality, making it a solid 'Good' despite its age, as major components appear functional and well-maintained, with recent updates in critical areas.
Year Built
1923
Close
-
List price
$1.5M
Original List price
$150K
Price/Sqft
$906
HOA
-
Days on market
-
Sold On
-
MLS number
PW22220655
Home ConditionGood
Features
Patio
View-

About this home

Discover timeless charm and modern investment potential at 817 E Palmyra, a beautifully maintained Craftsman-style duplex with an additional third unit, offering versatility and income opportunities. The back unit, a converted garage, adds additional income potential, making this property an excellent opportunity for investors or those seeking a home with rental income. The classic Craftsman architecture enhances its welcoming curb appeal, while the interiors blend vintage character with everyday functionality. Each two bedroom unit is thoughtfully designed for comfortable living, and all are currently rented, ensuring immediate cash flow. Situated in the heart of Old Towne Orange, this property benefits from proximity to vibrant dining, boutique shopping, and community events, making it a sought-after rental location. Whether expanding your portfolio, beginning your investment journey, or exploring owner-occupancy options, 817 E Palmyra offers a rare mix of historic charm and financial opportunity. Step into a property that balances timeless appeal with modern returns.

Condition Rating
Good
Built in 1923, this Craftsman-style duplex has been beautifully maintained and features significant recent updates in key areas. The kitchen (Image 8) boasts modern white shaker cabinets, quartz countertops, stainless steel appliances, and a contemporary range hood, indicating an excellent renovation. One bathroom (Image 10) also shows modern updates with a corner shower and new flooring. While some areas retain older charm with hardwood floors and ceiling fans, and a window AC unit is visible in one bedroom (Image 4), suggesting not all units have central HVAC, the overall condition is move-in ready. The property blends vintage character with modern functionality, making it a solid 'Good' despite its age, as major components appear functional and well-maintained, with recent updates in critical areas.
Pros & Cons

Pros

Strong Income-Generating Asset: The property is a duplex with an additional third unit (converted garage), all currently rented, providing immediate and diversified cash flow for investors.
Desirable Old Towne Orange Location: Situated in the heart of Old Towne Orange, benefiting from proximity to vibrant dining, boutique shopping, and community events, ensuring strong rental demand.
Classic Craftsman Charm & Curb Appeal: Features 'timeless charm' and 'classic Craftsman architecture,' enhancing its aesthetic appeal and attracting quality tenants or owner-occupants.
Versatile Investment Opportunity: Appeals to a broad range of buyers, including seasoned investors, first-time investors, or owner-occupants looking to offset mortgage costs with rental income.
Well-Maintained Property: Described as 'beautifully maintained,' suggesting a property that has been cared for, which can reduce immediate repair concerns for a new owner.

Cons

Age of Property (Potential for System Updates): Built in 1923, the property's age suggests potential for aging infrastructure (plumbing, electrical, HVAC) that may require significant capital expenditures in the future, despite being 'maintained'.
Converted Garage Unit (Permitting/Quality Unknown): The third unit is a 'converted garage,' and the description doesn't specify if it's a fully permitted Accessory Dwelling Unit (ADU) or its quality, which could pose legal or functional challenges.
Lack of Specific Interior/System Upgrade Details: While 'maintained' and blending 'vintage character with everyday functionality,' the description lacks specific details on recent interior renovations or major system upgrades, leaving uncertainty about the current condition and future investment needs for each unit.

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