331 N Olive Street

Orange, CA 92866

  • 0 Bed(s)
  • 0 Bath(s)
  • 2,417 Sqft
  • 6600
    Sqft(Lot)
$2,525,000

Description

Welcome to 331 n olive st, orange, ca, a high-performing, income-producing triplex in one of the most sought-after rental markets in orange county. located just minutes from old towne orange and chapman university, this property offers strong cash flow, long-term upside, and exceptional tenant demand.



property breakdown & rental income

331 n olive (main house): 3 bed, 1 bath – $5,140/month

333 n olive (detached unit): 1 bed, 1 bath – $2,595/month

335 n olive (brand-new adu): 2 bed, 1 bath – $3,795/month

the property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. the rental rates have consistently increased over time, with demand remaining extremely high due to the property’s prime location near chapman university and orange circle.



investment metrics

with a purchase price of $2,525,000, this property reflects a gross rent multiplier (grm) of 18.25 and a cap rate of 4.11%, based on a 25% expense ratio. these figures highlight the strong income potential and stability of this investment in a high-demand rental market.



why this property stands out

located in an r2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. the newly built adu enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. tenants are drawn to the location due to its walkability to chapman university, old towne orange’s popular shops and restaurants, and other local amenities. with historically strong rental appreciation and a limited housing supply in the area, this property is positioned for long-term success.



this is a rare opportunity to own a high-performing asset in one of orange county’s most competitive rental markets.

  • Property Type

    Residential Income

  • County

    Orange

  • Style

    Residential Income

  • AD ID

    48760618

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Property Details

  • Water/Sewer

    • Water Source : Public
    • Sewer : Public Sewer

  • Building Information

    • Year Built: 1921
    • Building Area Total: 2,417

    Pool Features

    • None

    Laundry Features

    • Inside

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1515
    • Lot Size Source: Assessor
    • Lot Size Square Feet: 6600

  • Listing Price Information

    • Original List Price: 2,525,000
    • Listing Contract Date: 2025-02-25

    Lease Information

    • Listing Agreement: Exclusive Right To Sell

  • Tax Information

    • Parcel Number: 03915303

  • Garage and Parking

    • Garage Description: Driveway,On Street

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: All Utilities

  • Other Property Info

    • Source Listing Status: Pending
    • Source Neighborhood: OTO - Old Towne Orange
    • Postal Code Plus 4: 1039
    • Directions: From 22, North on Glassell, W on Palm, North on Olive
    • Source Property Type: Residential Income
    • Area: OTO - Old Towne Orange
    • Property SubType: Single Family Residence

    Building and Construction

    • Property Age: 104
    • Common Walls: No Common Walls
    • Structure Type: Single Family Residence
    • Year Built Source: Assessor
    • Entry Level: 1
    • Entry Location: Street
    • Levels or Stories: One
    • Building Total Stories: 1
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BuyOwner last updated this listing 04/09/2025 @ 02:20

  • MLS: OC25043164
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 0 bedrooms which is recently sold, it has 2,417 sqft, 6,600 sized lot, and 0 parking. are nearby neighborhoods.