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$1,095,000

Est. payment - /mo

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4 Beds

2 Baths

1,527 SqFt

Pending

526 N Emerald Drive Orange, CA 92868

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Kurt Wannebo

kurt@wanneboreg.com +1(858) 405-5878

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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

Direction Head west on E Palm Ave, turn right onto N Glassell St, left onto W Collins Ave, then right onto N Emerald Dr the house will be on your right

Interior

Cooling Central Forced Air

Fireplaces Type FP in Living Room

Fireplace No

Appliance Dishwasher, Refrigerator

Exterior

Parking Features Garage

Garage Spaces 2.0

View Y/N Yes

Water Access Desc Public

View Other/Remarks

Total Parking Spaces 2

Building

Story 1

Sewer Public Sewer

Water Public

Level or Stories 1

Others

Tax ID 03929211

Acceptable Financing Cash, Conventional, Exchange, Submit

Listing Terms Cash, Conventional, Exchange, Submit

Special Listing Condition Standard

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Listed by Jacob Neal BHHS Drysdale Properties

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Kurt Wannebo

Broker Associate | CA Dre# 01468255

+1(858) 405-5878

526 N Emerald Drive Orange, CA 92868

Kurt Wannebo

Key Details

Location

Interior

Exterior

Building

Others

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526 N Emerald Drive