265 N Grand St, Orange, CA 92866

Property Description

Excellent opportunity to own an income producing property steps from Chapman University! Located in the heart of Old Towne Orange, this historic Craftsman multi-unit property provides a rare chance for any buyer looking to acquire a property that offers it all! Beautiful location, historic charm, high rental demand & strong income potential with a proforma cap rate near 6%! The front unit (265) is a 2 bed/1 bath and has been recently cosmetically updated with new carpet & wood vinyl floors, fresh paint, new oven/strove, washer/dryer, white tile counters in kitchen, bathroom vanity & shower. New ceiling fans, split A/C & heat units in living & bedrooms. The rear unit (261) has a nice floor plan with spacious kitchen/dining room, stackable washer/dryer laundry closet, one bedroom with closet, bathroom & cozy living room. The studio unit (265) offers a single room with separated small kitchen & bathroom. Both rear units have not been cosmetically updated due to long term month to month tenants that have enjoyed living in them for many years. Tenants share access to a detached 2 car garage located at the rear of the property & landscaped rear yard with fruit trees. Tenant parking is provided on driveway or on street (city provided permits) depending on unit. Continuous rental demand can be found with this property on a beautiful historic, well cared for neighborhood street with immediate proximity to Chapman University, all amenities of the Orange Circle & nearby train station.