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$1,475,000

Est. payment - /mo

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5 Beds

3 Baths

1,927 SqFt

Active

526 N Emerald DR Orange, CA 92868

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Lani Sylvas

soldbylani1@gmail.com +1(619) 889-7119

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,927 sqft

Price per Sqft $765

MLS Listing ID 26897423

Bedrooms 5

HOA Y/N No

Year Built 1956

Lot Size 6,342 Sqft

Property Description

Experience the quintessential Old Towne Orange lifestyle with this fully leased two-on-a-lot income property, just one mile from Chapman University! The main residence (4BR/2BA, 1,522 sq.ft.) showcases authentic mid-century character with vaulted beamed ceilings, hardwood and tile flooring, dual-pane windows, and an open floor plan anchored by a cozy fireplace. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, gas range and dishwasher. Every bedroom features generous closet space. The second residence (1BR/1BA, 405 sq.ft.), a permitted garage conversion completed in 2026, is brand new construction throughout and remains under contractor warranty, leased at $2,200 per month. The roof was fully replaced in 2025 under permit. Both units are leased through August 2027 with tenants covering utilities, producing $6,950 per month in place. Outside you'll find a covered patio, mature front landscaping, a front walkway, and a long driveway with off-street parking. The large, level rear yard is a blank canvas: add turf, landscaping and a dividing fence to give each unit its own private outdoor space. The main house is currently leased to students but drew strong interest from non-student renters as well, giving a new owner options at lease-end: renew, refresh the main house and reposition it for families or professionals, or owner-occupy while the ADU helps carry the mortgage. The seller is flexible and owns other properties in the area. If you need a unit delivered vacant, reach out and let's discuss. Just a short stroll to Chapman, the Orange Circle, and the dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55/22 freeway access. At $1,475,000, in-place rents equate to approximately a 17.69X GRM and a 4.41% CAP Rate. Notably, the main residence was leased at $6,100 per month as recently as July 2026. At that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate.

Location

State CA

County Orange

Area Oto - Old Towne Orange

Interior

Interior Features Ceiling Fan(s)

Heating Central

Cooling Central Air

Flooring Wood

Fireplaces Type Living Room

Fireplace Yes

Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer

Laundry Outside

Exterior

Parking Features Driveway

Pool None

Roof Type Composition,Shingle

Total Parking Spaces 3

Private Pool No

Building

Lot Description Back Yard, Front Yard

Story 1

Entry Level One

Sewer Sewer Tap Paid

Architectural Style Traditional

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 03929211

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Financing Cash,Conventional

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Tucker Steil Real Broker #02252140

NEARBY SCHOOL & BUSINESS

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Lani Sylvas

Agent License ID: 1418493

+1(619) 889-7119

526 N Emerald DR Orange, CA 92868

Lani Sylvas

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOL & BUSINESS

GET MORE INFORMATION

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526 N Emerald DR