611 W Walnut Avenue, Orange, California 92868, Orange, - bed, bath

home-pic
ACTIVE$1,224,500
611 W Walnut Avenue, Orange, California 92868
0Bed
0Bath
1,502Sqft
3,524Lot
Year Built
1947
Close
-
List price
$1.22M
Original List price
$1.25M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
OC25121439
Home ConditionGood
Features
Patio
View-

About this home

We are pleased to present a prime investment opportunity at 611 and 613 W Walnut in Orange, California. Located just minutes from Chapman University, these two standalone homes—each featuring 2 bedrooms and 2 bathrooms—offer stable rental income in a high-demand student housing market. The homes are fully leased, with 611 W Walnut bringing in $3,150 monthly and 613 W Walnut achieving a strong $3,425 monthly rent, showcasing the property's upside potential. The below-market rent at 611 highlights a clear path for future income growth, while the higher rent at 613 sets the benchmark for what both homes can achieve. Both units cater perfectly to Chapman students seeking privacy, modern amenities, and proximity to campus. Situated on a quiet, permit-only parking street with updated features and strong rental appeal, these properties are easy to lease and ideal for hands-off ownership. With stabilized tenants, consistent demand from Chapman’s growing student population, and the proven rent performance of 613, this offering provides a compelling mix of immediate income and future upside. Whether you're a seasoned investor or looking to break into the Orange market, 611 and 613 W Walnut deliver the kind of reliable returns and appreciation potential that make for a smart long-term hold.

Price History

Date
Event
Price
08/29/25
Price Change
$1,224,500
05/30/25
Listing
$1,249,000
Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (36 Listings)
Beds03
Baths02
Square foot1,5021,383
59%
Lot Size3,5246,084
27%
Price$1.22M$930K
92%
Price per square foot$815$645
81%
Built year19471959
11%
HOA
Days on market159148
59%
Condition Rating
Good

Despite being built in 1947, the property has undergone significant and recent renovations, as evidenced by the LVP flooring, fresh white paint, modern flush-mount light fixtures, and updated kitchen with white shaker cabinets and subway tile backsplash. The bathroom also features a contemporary vanity and updated tiling. While the white appliances and some specific design choices (like the red countertops and bathroom mosaic) suggest the renovation might not be brand new (within 5 years), it is clearly move-in ready, well-maintained, and offers modern amenities, fitting the 'Good' condition criteria for a property extensively renovated within the last 5-15 years.
Pros & Cons

Pros

Strong Investment Potential: The property is highlighted as a 'prime investment opportunity' offering 'reliable returns and appreciation potential' with both 'immediate income and future upside'.
Dual Income Property: Comprising two standalone homes, the property provides diversified rental income streams from separate units, enhancing its investment appeal.
High-Demand Student Housing Market: Its strategic location 'just minutes from Chapman University' ensures consistent demand from a growing student population, making it easy to lease.
Stable & Proven Rental Income: Both units are 'fully leased' with established rents, demonstrating immediate cash flow and 'proven rent performance' from stabilized tenants.
Future Income Growth Opportunity: The 'below-market rent at 611' presents a clear and actionable path for future income growth and increased profitability.

Cons

Age of Property: Built in 1947, the age of the homes may imply potential for older infrastructure, systems, and higher long-term maintenance costs, despite mentioned updates.
Compact Unit Sizes: With a total of 1502 sqft for two 2-bedroom, 2-bathroom units, each unit is relatively small, which might limit appeal to a broader tenant base beyond students.
Market Niche Dependency: The property's strong performance is heavily reliant on the specific student housing market of Chapman University, making it susceptible to changes in university policies or student enrollment trends.

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