526 N Emerald Drive Pending Save Request In-Person Tour Request Virtual Tour
Orange,CA 92868
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Pending
Purchase Type For Sale
Square Footage 1,527 sqft
Price per Sqft $717
MLS Listing ID OC25229053
Bedrooms 4
Full Baths 2
Year Built 1956
Lot Size 6,344 Sqft
Property Sub-Type Detached
Property Description
526 N Emerald presents a prime investment opportunity in the heart of Orange, California, just minutes from Chapman University. This four bedroom, two bathroom home is fully leased through June 30, 2026, generating $6,285 per month or $75,420 annually in rental income. At the offered price of $1,090,000, the property reflects a GRM of approximately 14.5 and a projected 5.2 percent CAP rate assuming 25 percent expenses. With a long term lease in place, the asset delivers immediate cash flow, stable returns, and minimal turnover risk in one of Oranges most desirable student housing corridors. The home is designed with student living in mind, featuring private bedrooms, generous common areas, and a layout well-suited for roommates. Durable finishes and low-maintenance systems ensure straightforward management, while outdoor space adds further appeal for tenants. A major value add opportunity exists through the potential conversion of the garage into an ADU. The current lease already permits an ADU to be built, and similar units in the area typically command $2,000 to $2,500 per month in additional rental income. This presents a clear path for investors to increase returns well beyond the propertys existing performance. Location is a key driver of value. 526 N Emerald sits within walking and biking distance of Chapman University, Dodge College of Film and Media Arts, and Old Towne Oranges shops and restaurants. With consistent demand and low vacancy, the property is ideally positioned for ongoing rental success. Its quiet residential setting, paired with proximity to major free
Location
State CA
County Orange
Interior
Cooling Central Forced Air
Fireplaces Type FP in Living Room
Exterior
Parking Features Garage
Garage Spaces 2.0
View Y/N Yes
View Other/Remarks
Building
Story 1
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash,Conventional,Exchange,Submit
Listing Terms Cash,Conventional,Exchange,Submit
Special Listing Condition Standard
Virtual Tour https://my.matterport.com/show/?m=yZ2auBd6Uwn