875 N Olive, Orange, California 92867, Orange, 92867 - 0 bed, 0 bath
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Orange, California 92867
Analysis of 875 N Olive, Orange, California 92867 is currently available with a list price of $5,325,000. The property maintains a Excellent Condition Rating (95/100), indicating excellent structural integrity and modern finishes throughout. This turnkey property requires minimal updates and is ready for immediate occupancy. Located in a high-demand neighborhood within the Orange Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is new construction or fully renovated.
While originally built in 1993, the property qualifies as Excellent due to a comprehensive renovation of all units in 2025 and the addition of brand-new units in 2026 (<5 years). The asset features a brand-new energy-efficient central boiler system, updated AC, and is described as a turnkey property with minimal deferred maintenance.
Situated steps from Old Towne Orange and Chapman University, the property benefits from a high-quality, consistent tenant pool and exceptional walkability to dining and transit.
With comprehensive 2025 renovations and a brand-new energy-efficient central boiler, the asset offers immediate stabilized cash flow with minimal near-term capital expenditure requirements.
The strategic conversion of garages into two brand-new units and the use of dual-master floor plans maximize the property's footprint and income potential in a high-demand market.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =19254, other record lot size in square feet = 18659.
The conversion of five single-car garages into residential units significantly reduces on-site covered parking, which may be a concern for tenants with multiple vehicles.
Maximizing the lot's footprint with additional units leaves limited common outdoor space, potentially impacting the long-term residential appeal compared to lower-density complexes.
875 N. Olive St. represents a rare, pride-of-ownership turnkey asset delivering an exceptionally high cap rate in the coveted Orange market. The property features ten original 1993-built, dual-master 2-bed/2-bath units with AC, all tastefully renovated and leased in 2025. Maximizing the asset's footprint, five single-car garages were fully permitted and converted into two brand-new units completed in 2026: a 2-bed/2-bath unit and an ADA-compliant 1-bed/1-bath unit. Investors will benefit from immediate stabilized cash flow with minimal deferred maintenance, anchored by a brand-new, energy-efficient central boiler system. Situated just north of Chapman Avenue, the property boasts a premier location steps from the historic Old Towne Orange Circle, offering tenants convenient access to local dining, retail, and entertainment. Its proximity to Chapman University provides a reliable, high-quality tenant pool, while nearby access to the Orange Metrolink Station and major freeways ensures excellent regional connectivity. This low-maintenance, high-yield asset is ideally positioned for a 1031 exchange or a private capital investor seeking a premium North Orange County multifamily property.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 9,715 | 7,945 | 50% |
| Lot Size | 19,254 | 14,611.5 | 50% |
| Price | $5.33M | $4.11M | 50% |
| Price per sq ft | $548 | $508 | 50% |
| Built year | 1993 | 1977 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 169 | 50% |
May 20, 2026
$5,325,000
Initial Listing
Mar 26, 2025
$3,115,000
Public Record