NEW! Buy and sell safely with virtual options - Learn More
About the Listing CLW-X79021 - CLW-C144628
Experience the quintessential Old Towne Orange lifestyle with this fully leased 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. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, 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. The roof was fully replaced in 2025 under permit. Both units are leased through August 2027 with tenants covering utilities, producing $6,950 per month in place. Outside you'll find a covered patio, mature front landscaping, a front walkway, and a long driveway with off-street parking. The large, level rear yard is a blank canvas: add turf, landscaping and a dividing fence to give each unit its own private outdoor space. The main house is currently leased to students but drew strong interest from non-student renters as well, giving a new owner options at lease-end: renew, refresh the main house and reposition it for families or professionals, or owner-occupy while the ADU helps carry the mortgage. The seller is flexible and owns other properties in the area. If you need a unit delivered vacant, reach out and let's discuss. Just a short stroll to Chapman, the Orange Circle, and the dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55/22 freeway access. At $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. At that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate.
Listing Highlights for 526 N Emerald Dr
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances: Dishwasher, Disposal, Refrigerator, Dryer, Washer
- Air Cond: Central Air
- Heating: Central
- Fireplaces: Living Room
- Floor: Wood
- Basement:
- Other: Ceiling Fan(s)
- Water:
Exterior Details
- Lot Description: Back Yard,Front Yard,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 3
- Lot Dimensions: 61x104
- Roof: Composition,Shingle
- Others: Stucco,2+ Total Units,Has ADU
- Sewer: Sewer Tap Paid
- Parking Features: Driveway
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 03929211
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
526 N Emerald Dr Orange, CA 92868
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
