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Welcome to 331 N Olive St, Orange, CA, a high-performing, income-producing triplex in one of the most sought-after rental markets in Orange County. Located just minutes from Old Towne Orange and Chapman University, this property offers strong cash flow, long-term upside, and exceptional tenant demand.Property Breakdown & Rental Income331 N Olive (Main House): 3 Bed, 1 Bath – $5,140/month333 N Olive (Detached Unit): 1 Bed, 1 Bath – $2,595/month335 N Olive (Brand-New ADU): 2 Bed, 1 Bath – $3,795/monthThe property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. The rental rates have consistently increased over time, with demand remaining extremely high due to the property’s prime location near Chapman University and Orange Circle.Investment MetricsWith a purchase price of $2,525,000, this property reflects a Gross Rent Multiplier (GRM) of 18.25 and a CAP rate of 4.11%, based on a 25% expense ratio. These figures highlight the strong income potential and stability of this investment in a high-demand rental market.Why This Property Stands OutLocated in an R2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. The newly built ADU enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. Tenants are drawn to the location due to its walkability to Chapman University, Old Towne Orange’s popular shops and restaurants, and other local amenities. With historically strong rental appreciation and a limited housing supply in the area, this property is positioned for long-term success.This is a rare opportunity to own a high-performing asset in one of Orange County’s most competitive rental markets.
Property Type(s):
Residential Income
| Last Updated | 2/28/2025 | Year Built | 1921 |
|---|---|---|---|
| Community | Old Towne Orange | County | Orange |
Additional Details
| AREA | Old Towne Orange |
|---|---|
| GARAGE | Driveway, On Street |
| LOT | 6600 sq ft |
| LOT DESCRIPTION | 2-5 Units/Acre |
| PARKING | Driveway,On Street |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
Location
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Listed with BHHS Drysdale Properties
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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