526 N Emerald Drive, Orange, CA 92868
Local realty services provided by:Better Homes and Gardens Real Estate Oak Valley
526 N Emerald Drive,Orange, CA 92868
$1,475,000
- 5 Beds
- 3 Baths
- 1,927 sq. ft.
- Multi-family
- Active
Listed by: tucker steil
Office: real broker619-663-8680
MLS#:26897423
Source:CRMLS
Price summary
- Price:$1,475,000
- Price per sq. ft.:$765.44
About this home
Experience the quintessential Old Towne Orange lifestyle with this fully stabilized 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 with sliding glass doors opening to the rear yard. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, and stainless appliances including a 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. Both units are leased through August 2027 with tenants covering all utilities, producing $6,950 per month with zero vacancy exposure. All maintenance items have been addressed, the main-house punch list was completed at lease-up, and the general contractor remains available to a new owner - no deferred maintenance and no near-term capital expenditures anticipated. Outside, enjoy a covered patio, mature front landscaping, a stone walkway, long driveway, carport and off-street parking, plus a large level rear yard offering a clean slate for turf, landscaping, and a dividing fence to give each unit its own private outdoor space. With a location just a short stroll to Chapman University, the Orange Circle, and the eclectic dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55 and 22 freeway access, this turn-key property is a high-demand rental or a perfect multi-generational setup. At the current list price of $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 - restored to that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate....
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Home facts
- Year built:1956
- Listing ID #:26897423
- Added:26 day(s) ago
- Updated:September 24, 2026 at 11:07 AM
Rooms and interior
- Bedrooms:5
- Total bathrooms:3
- Flooring:Wood
- Kitchen Description:Dishwasher, Disposal, Refrigerator
- Living area:1,927 sq. ft.
Heating and cooling
- Cooling:Central Air
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Composition, Shingle
- Year built:1956
- Building area:1,927 sq. ft.
- Lot area:0.15 Acres
- Lot Features:Back Yard, Front Yard
- Architectural Style:Traditional
- Construction Materials:Stucco
- Levels:1 Story
Utilities
- Sewer:Sewer Tap Paid
Finances and disclosures
- Price:$1,475,000
- Price per sq. ft.:$765.44
Features and amenities
- Appliances:Dishwasher, Disposal, Dryer, Washer
- Laundry features:Dryer, Outside, Washer
- Amenities:Ceiling Fans
Parking
- Total parking spaces:3
- Parking description:Driveway
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