For Sale
$2,075,000

481 Cypress StOrange, CA 92866

High-yield, stabilized student housing.

Overview

Added:
Dec 11, 2024
Days on market:
114
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
481 Cypress St, Orange, California

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481 Cypress St
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