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$10,000 Closing Credit¹
#OC25043126, Jacob Neal, Listing Office: BHHS Drysdale Properties
#OC25043164·
Listing Office: BHHS Drysdale Properties·
Listing Agent: Jacob Neal·
Listing Office Phone: 209-642-2292
$2,525,000 List price
331 N Olive St Orange, CA 92866
0.2 acres
House
Property details
About 331 N Olive St
Welcome to 331 N Olive St, Orange, CA, a high-performing, income-producing triplex in one of the most sought-after rental markets in Orange County. Located just minutes from Old Towne Orange and Chapman University, this property offers strong cash flow, long-term upside, and exceptional tenant demand. Property Breakdown & Rental Income 331 N Olive (Main House): 3 Bed, 1 Bath – $5,140/month 333 N Olive (Detached Unit): 1 Bed, 1 Bath – $2,595/month 335 N Olive (Brand-New ADU): 2 Bed, 1 Bath – $3,795/month The property generates a total monthly rental income of $11,530, resulting in an annual gross rental income of $138,360. The rental rates have consistently increased over time, with demand remaining extremely high due to the property’s prime location near Chapman University and Orange Circle. Investment Metrics With a purchase price of $2,525,000, this property reflects a Gross Rent Multiplier (GRM) of 18.25 and a CAP rate of 4.11%, based on a 25% expense ratio. These figures highlight the strong income potential and stability of this investment in a high-demand rental market. Why This Property Stands Out Located in an R2-6 zone, the property offers potential for future development while providing excellent immediate cash flow. The newly built ADU enhances the income potential, making this a turnkey investment in a market where rental demand continues to grow. Tenants are drawn to the location due to its walkability to Chapman University, Old Towne Orange’s popular shops and restaurants, and other local amenities. With historically strong rental appreciation and a limited housing supply in the area, this property is positioned for long-term success. This is a rare opportunity to own a high-performing asset in one of Orange County’s most competitive rental markets.
Highlights
Home typeSingle Family Residence
StatusActive
Lot size0.1515 Acres
Year built1921
ParkingDriveway, On Street
MLS #OC25043164
Virtual tour
Summary
- MLS Number: OC25043164
- MLS Name: CRMLS
- Office Name: BHHS Drysdale Properties
- Office Phone: (209) 642-2292
- Listing Agent: Jacob Neal
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/4/2025, 10:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$2,525,000
331 N Olive St
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Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Sep 22, 2022 | Home Sold | $1,100,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,122,000 | $12,663 |
| 2023 | $1,100,000 | $12,132 |
| 2022 | $867,000 | $9,665 |
| 2021 | $568,822 | $6,379 |
| 2020 | $562,990 | $6,320 |
| 2019 | $551,951 | $6,145 |
| 2018 | $541,129 | $6,145 |
| 2017 | $530,519 | $5,893 |
History based on county public records data.
Nearby schools
2
Cambridge Elementary School
Public District KG-6
0.6 mi
•425 N Cambridge St
4
Tomorrow's Leadership Collaborative (TLC) Charter
Public Charter KG-6
0.7 mi
•1130 E Walnut Ave
7
Sycamore Elementary School
Public District KG-6
0.8 mi
•340 N Main St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $54,358. Residents of Orange, CA typically earn between $35k-100k each year. Most families are single, no kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
30%
<35k
50%
35k-100k
18%
100k-200k
2%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
51%
Single, No Kids
15%
Single, with Kids
15%
Married, No Kids
19%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
15%
<11 yrs old
7%
12-17 yrs old
36%
18-34 yrs old
36%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
Major League Soccer (MLS)
Music Concerts
Tennis
Where do the neighbors shop?
Banana Republic
H&M
Crate & Barrel
Where do the neighbors go to eat?
Jack In The Box
Chipotle
Starbucks
What do the neighbors drive?
Toyota
Volkswagen
BMW
What do the neighbors listen to?
Jazz
Rhythmic Contemporary Hits
News
All data provided by Home Junction and Claritas
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Frequently asked questions
About 331 N Olive St
This home is located at 331 N Olive St in Orange, CA and zip code 92866. Features: 0 bathroom. It has been listed on Rocket Homes since February 28, 2025 and is currently priced at $2,525,000.
Orange, CA housing market in February 2025 saw over 32 listings sold above listed price, more than 5 sold at listed price and over 27 sold below. In February 2025 in Orange, CA there were 17.9% more homes for sale than in January. In February 2025 median list price was $1,100,000 and the average listing age was 30 days.
From Rocket Homes Real Estate and based on county public records data.