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253 S Lemon Street

Orange, CA 92866
  • $3,750,000
  • STATUS: Active Under Contract
  • ON SITE: 104 Days
  • ID#: OC24205368
Under Contract
UPDATED: 43 min ago
$3,750,000
  • 0
    BEDS
  • 0.19
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1924
County:

School Ratings & Info

Listing Agent(s): Mike Marcu of Mike Marcu, Broker (909-371-1322)


Description

This well located 12-unit apartment building is within walking distance to both Chapman University and Old Town Orange. Presented as a value-add opportunity, all 12 units are two-bedroom one bath townhouse style apartments. Gas and electricity are individually metered while the landlord provides hot and cold water and trash. There is no on-onsite parking and a small ex-carport structure, in the rear of the property, may offer and opportunity to add an ADU to the property. Both buildings have copper plumbing and there is a common laundry room on site.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-16T16:36:03.12. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
www.cfc-realty.com/homes/156290668
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253 S Lemon Street Orange, CA 92866

  • Price: $3,750,000
  • Status: Active Under Contract
  • On Site: 104 Days
  • Updated: 43 min ago
  • ID#: OC24205368
0
Beds
0
Baths
0
½ Baths
0.19
Acres
1924
Built
Neighborhood:
OTO - Old Towne Orange
County:
Orange
Area:
OTO - Old Towne Orange
Property Description
This well located 12-unit apartment building is within walking distance to both Chapman University and Old Town Orange. Presented as a value-add opportunity, all 12 units are two-bedroom one bath townhouse style apartments. Gas and electricity are individually metered while the landlord provides hot and cold water and trash. There is no on-onsite parking and a small ex-carport structure, in the rear of the property, may offer and opportunity to add an ADU to the property. Both buildings have copper plumbing and there is a common laundry room on site.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 36-40 Units/AcreStreet Level Number Of Separate Electric Meters 12 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 1 Common Wall

Property Features

Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.25 Common Interest Community Apartment Community Features Suburban Electric Expense 3205 Fuel Expense 3205 Garage YN No Gross Income 2628 Gross Scheduled Income 260076 Insurance Expense 7200 Land Lease YN No Laundry Features Common Area Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan Maintenance Expense 12663 Net Operating Income 159450 New Construction YN No New Taxes Expense 42840 Number Of Separate Gas Meters 13 Number Of Separate Water Meters 2 Operating Expense 92823 Other Expense 1000 Property Sub Type Apartment Rent Control YN No Senior Community YN No Sewer Sewer Assessment(s) Special Listing Conditions Standard Tenant Pays ElectricityGas Trash Expense 8500 Vacancy Allowance 7802 Vacancy Allowance Rate 3 Water Sewer Expense 4596 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2025-01-16T16:36:03.12. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or CFC Realty, Inc. Licensed in the State of California, USA.
 
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CFC Realty, Inc
931 Pueblo Drive
Lake Havasu City AZ, 86406
Listing Agent(s): Mike Marcu of Mike Marcu, Broker (909-371-1322)