For Sale
$2,075,000

481 Cypress St Orange, CA 92866

High-yield, stabilized student housing.

Overview

Added:
Dec 11, 2024
Days on market:
138
Exceptional investment opportunity in Orange, CA, this Class A, stabilized student housing property presents a compelling case for investors seeking strong returns. Priced at $2,075,000, this multifamily property boasts 1,960 square feet and features two units with a total of six bedrooms and 3.5 bathrooms. Currently operating at 100% occupancy, the property generates a substantial NOI of $102,432, translating to a 4.94% cap rate and a pro-forma cap rate of 5.06%. The property's strong performance is further underscored by a price per square foot of $1,058.67 and a price per unit of $1,037,500. The property includes a main house with four bedrooms and three bathrooms, and a permitted Accessory Dwelling Unit (ADU) with two bedrooms and one bathroom. The property is situated on a lot with a large backyard, offering ample space and privacy. While currently configured as student housing, the property's versatile layout presents numerous possibilities for future use. This is a rare opportunity to acquire a high-performing asset with significant potential for long-term growth. The property is not subject to a ground lease. Additional interior and yard photos are available upon request.

Highlights

  • Two-unit property, fully occupied.
  • Main house features four bedrooms and three bathrooms; permitted accessory dwelling unit (ADU) adds two bedrooms and one bathroom.
  • Offered at $2,075,000.
  • 100% occupancy generates $116,400 annual gross income.
  • Expenses are 12.04% of gross income, yielding a net operating income (NOI) of $102,297.50.
  • Cap rate is 4.93%; gross rent multiplier (GRM) is 17.83.

Property Details for 481 Cypress St

Property type
Dormitories, Student housing
Square Feet
1,960 SF
Class
A
Units
2

Location Insight

City
Orange
County
Orange
State
California
Latitude
33.7947015
Longitude
-117.8559958

FAQs

What type of property is this?
Dormitory - High-yield, stabilized student housing.
Where is the dormitory located?
The property is located at 481 Cypress St Orange, CA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: Two-unit property, fully occupied.; Main house features four bedrooms and three bathrooms; permitted accessory dwelling unit (ADU) adds two bedrooms and one bathroom.; Offered at $2,075,000.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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481 Cypress St
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