$5,265,000
About this home
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.
Facts & features
- Laundry
- None
- Lot size
- 0.442 acres (19,254 sq ft)
- Pool
- None
- Year built
- 1993
- Parking spaces
- 17
- Area
- 699 - Not Defined
- County
- Orange
- Community features
- Suburban
- Status
- Active
- Property type
- Mixed Use
- Days on market
- 54
- Listed
- 2026-05-20
- Original price
- $5,325,000
- Terms
- Cash, Cash To New Loan, Exchange 1031
- Parcel #
- 38643419
- MLS #
- NP26109126
