875 N Olive St Orange, CA 92867
Estimated payment $30,291/month
About This Home
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.
Listing Agent
R L M Equities Brokerage Phone: 949-573-5309 License #02078223 Listed on: 05/20/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1993
Lot Details
- 19,254 Sq Ft Lot
- Two or More Common Walls
- Density is 6-10 Units/Acre
Parking
- 12 Open Parking Spaces
- 5 Car Garage
Home Design
- Property Attached
- Entry on the 1st floor
Interior Spaces
- 9,715 Sq Ft Home
- 2-Story Property
- Leased Washer and Dryer
Bedrooms and Bathrooms
- 7 Bedrooms
- 7 Bathrooms
Location
- Suburban Location
Listing and Financial Details
- Legal Lot and Block 1 / G
- Tax Tract Number 175
- Assessor Parcel Number 38643419
- $2,738 per year additional tax assessments
Community Details
Overview
- 2 Buildings
- 12 Units
Building Details
- Rent Control
- 13 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Electric Expense $2,000
- Fuel Expense $3,412
- Gardener Expense $2,400
- Insurance Expense $8,295
- Maintenance Expense $11,648
- Other Expense $2,269
- Trash Expense $6,216
- Water Sewer Expense $6,271
- New Taxes Expense $58,952
- Operating Expense $101,463
- Gross Income $21,431
- Net Operating Income $307,433
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $20,368 | $1,664,349 | $747,068 | $917,281 |
| 2024 | $19,899 | $1,631,715 | $732,419 | $899,296 |
| 2023 | $19,439 | $1,599,721 | $718,058 | $881,663 |
| 2022 | $19,045 | $1,568,354 | $703,978 | $864,376 |
| 2021 | $18,538 | $1,537,602 | $690,174 | $847,428 |
| 2020 | $18,360 | $1,521,836 | $683,097 | $838,739 |
| 2019 | $18,148 | $1,491,997 | $669,703 | $822,294 |
| 2018 | $17,877 | $1,462,743 | $656,572 | $806,171 |
| 2017 | $17,178 | $1,434,062 | $643,698 | $790,364 |
| 2016 | $16,857 | $1,405,944 | $631,077 | $774,867 |
| 2015 | $16,610 | $1,384,826 | $621,598 | $763,228 |
| 2014 | $16,260 | $1,357,700 | $609,422 | $748,278 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/20/2026 05/20/26 | For Sale | $5,325,000 | 0.0% | $548 / Sq Ft | |
| 10/15/2025 10/15/25 | Off Market | $2,650 | -- | -- | |
| 08/22/2025 08/22/25 | Price Changed | $2,650 | +1.9% | $3 / Sq Ft | |
| 07/01/2025 07/01/25 | For Rent | $2,600 | 0.0% | -- | |
| 03/26/2025 03/26/25 | Sold | $3,115,000 | +5.6% | -- | View Prior Sale |
| 02/24/2025 02/24/25 | Pending | -- | -- | -- | |
| 02/20/2025 02/20/25 | For Sale | $2,950,000 | -- | -- |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: NP26109126
APN: 386-434-19
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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. Properties may or may not be listed by the office/agent presenting the information
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