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About the Listing OC05905 - OCNEALJAC
Excellent opportunity to own an income-producing property in the desirable City of Orange! Currently leased for $6,220 per month, the property generates $74,640 in annual gross rental income, with the existing lease running through May 31, 2027. The tenant pays all utilities, while the owner covers landscaping service, helping keep operating expenses low. Investors can benefit from immediate rental income with an established tenant in place, while future homeowners have the opportunity to collect rent now and potentially move in after the lease expires, subject to applicable tenancy requirements. The existing lease also allows the owner to construct an Accessory Dwelling Unit (ADU) within the garage during the lease term, subject to city permits and approvals, offering the potential for additional rental income or future personal use. Conveniently located near Chapman University, Old Towne Orange, shopping, dining, and major freeways, this property offers strong rental appeal and long-term flexibility for investors and future homeowners alike.
Listing Highlights for 1305 W Cherry
Interior Details
- Bedrooms: 4
- Bathrooms: 2 Full
- Appliances:
- Air Cond: Central Air
- Heating: Central
- Fireplaces: Living Room
- Floor:
- Basement:
- Other: All Bedrooms Down
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: 2 car
- Parking Spaces: 2
- Roof:
- Others: Has ADU
- Sewer: Public Sewer
- Parking Features: Door-Multi,Driveway,Garage
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 03929330
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
1305 W Cherry Orange, CA 92868
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