1305 W CherryOrange, CA 92868

Description

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.

Property Information

Property type

Residential

Sub-type

Single Family Residence

Structure type

House

Year built

1955

Stories

1

Living area

1,327 Sq Ft

Lot size

0.14 acres

Garage spaces

2

Parking spaces

2

Days on market

1

MLS^® Listing#

OC26220349

Property Features

Cooling

Central Air

Heating

Central

Fireplace

Living Room

Pool

None

Parking

Attached · Driveway · Garage

Laundry

In Garage

Community

Sidewalks

Sewer

Public Sewer

Water source

Public

Financial Details

HOA

None

Parcel number

03929330

Directions

From the 57 Freeway, exit Orangewood Avenue and head east. Turn right onto Main Street, then left onto W Cherry Drive. The property will be on your left