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875 N Olive St 12 Unit Apartment Building $5,325,000 ($443,750/Unit) 5.58% Cap Rate Orange, CA 92867
Executive Summary
875 N. Olive St. represents a rare, pride-of-ownership turnkey asset delivering an exceptionally high cap rate in the coveted Orange market. The property features ten original 1993-built, dual-master 2-bed/2-bath units with AC, all tastefully renovated and leased in 2025. Maximizing the asset's footprint, five single-car garages were fully permitted and converted into two brand-new units completed in 2026: a 2-bed/2-bath unit and an ADA-compliant 1-bed/1-bath unit. Investors will benefit from immediate stabilized cash flow with minimal deferred maintenance, anchored by a brand-new, energy-efficient central boiler system.
Situated just north of Chapman Avenue, the property boasts a premier location steps from the historic Old Towne Orange Circle, offering tenants convenient access to local dining, retail, and entertainment. Its proximity to Chapman University provides a reliable, high-quality tenant pool, while nearby access to the Orange Metrolink Station and major freeways ensures excellent regional connectivity. This low-maintenance, high-yield asset is ideally positioned for a 1031 exchange or a private capital investor seeking a premium North Orange County multifamily property.
Situated just north of Chapman Avenue, the property boasts a premier location steps from the historic Old Towne Orange Circle, offering tenants convenient access to local dining, retail, and entertainment. Its proximity to Chapman University provides a reliable, high-quality tenant pool, while nearby access to the Orange Metrolink Station and major freeways ensures excellent regional connectivity. This low-maintenance, high-yield asset is ideally positioned for a 1031 exchange or a private capital investor seeking a premium North Orange County multifamily property.
Property Facts
| Price | $5,325,000 | Apartment Style | Low-Rise |
| Price Per Unit | $443,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 5.58% | Building Size | 9,715 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 83% |
| Gross Rent Multiplier | 12.99 | No. Stories | 2 |
| No. Units | 12 | Year Built/Renovated | 1993/2026 |
| Property Type | Multifamily | Parking Ratio | 1.85/1,000 SF |
| Property Subtype | Apartment |
| Price | $5,325,000 |
| Price Per Unit | $443,750 |
| Sale Type | Investment |
| Cap Rate | 5.58% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.99 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 9,715 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1993/2026 |
| Parking Ratio | 1.85/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Ceiling Fans
- Walk-In Closets
- Vinyl Flooring
- Quartz Countertops
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 11 | $2,703 | 680 - 850 |
| 1+1 | 1 | $2,200 | 450 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 386-434-19 | Improvements Assessment | $917,281 |
| Land Assessment | $747,068 | Total Assessment | $1,664,349 |
Property Taxes
Parcel Number
386-434-19
Land Assessment
$747,068
Improvements Assessment
$917,281
Total Assessment
$1,664,349
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875 N Olive St
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