331 N Olive Street, Orange, CA 92866

• Listed Price : $2,525,000
• Beds : N/A
  
• Baths : N/A
  
• Property Size : N/A sqft
  
• Year Built : 1921
  

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Property 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.

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Interior Features

Listing Information

Listing information courtesy of: Jacob Neal, BHHS Drysdale Properties. *Based on information from the Association of REALTORS/Multiple Listing as of Mar 1st, 2025 at 3:11 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.