481 Cypress StOrange, CA 92866

Property Details for 481 Cypress St

Property size (Sq ft)

1,960 SF

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Orange

County

Orange

State

California

Latitude

33.7947

Longitude

-117.856

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