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Thomas Ly

tom289broker@gmail.com +1(714) 236-9524

$ 1,475,000

Est. payment -/mo

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526 N Emerald DR Orange, CA 92868

5 Beds

3 Baths

1,927 SqFt

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 stabilized 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 with sliding glass doors opening to the rear yard. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, and stainless appliances including a 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. Both units are leased through August 2027 with tenants covering all utilities, producing $6,950 per month with zero vacancy exposure. All maintenance items have been addressed, the main-house punch list was completed at lease-up, and the general contractor remains available to a new owner - no deferred maintenance and no near-term capital expenditures anticipated. Outside, enjoy a covered patio, mature front landscaping, a stone walkway, long driveway, carport and off-street parking, plus a large level rear yard offering a clean slate for turf, landscaping, and a dividing fence to give each unit its own private outdoor space. With a location just a short stroll to Chapman University, the Orange Circle, and the eclectic dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55 and 22 freeway access, this turn-key property is a high-demand rental or a perfect multi-generational setup. At the current list price of $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 - restored to 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 SCHOOLS & PROPERTIES

“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”

+1(714) 236-9524

tom289broker@gmail.com

110 E Wilshire Ave, Suite G1, Fullerton, United States

Thomas Ly

526 N Emerald DR Orange, CA 92868

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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526 N Emerald DR