526 N Emerald Drive, Orange, CA 92868

526 N Emerald presents a prime investment opportunity in the heart of Orange, California, just minutes from Chapman University. This four bedroom, two bathroom home is fully leased through June 30, 2026, generating $6,285 per month or $75,420 annually in rental income. At the offered price of $1,090,000, the property reflects a GRM of approximately 14.5 and a projected 5.2 percent CAP rate assuming 25 percent expenses. With a long term lease in place, the asset delivers immediate cash flow, stable returns, and minimal turnover risk in one of Orange's most desirable student housing corridors. The home is designed with student living in mind, featuring private bedrooms, generous common areas, and a layout well-suited for roommates. Durable finishes and low-maintenance systems ensure straightforward management, while outdoor space adds further appeal for tenants. A major value add opportunity exists through the potential conversion of the garage into an ADU. The current lease already … read more …