817 E Palmyra Avenue, Orange, California 92866, Orange, - bed, bath

home-pic
ACTIVE$1,499,999
817 E Palmyra Avenue, Orange, California 92866
0Bed
0Bath
1,656Sqft
6,970Lot
Year Built
1923
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW23006577
Home ConditionFair
Features
Patio
View-

About this home

Discover timeless charm and modern investment potential at 817 E Palmyra, a beautifully maintained Craftsman-style duplex with an additional third unit, offering versatility and income opportunities. The back unit, a converted garage, adds additional income potential, making this property an excellent opportunity for investors or those seeking a home with rental income. The classic Craftsman architecture enhances its welcoming curb appeal, while the interiors blend vintage character with everyday functionality. Each two bedroom unit is thoughtfully designed for comfortable living, and all are currently rented, ensuring immediate cash flow. Situated in the heart of Old Towne Orange, this property benefits from proximity to vibrant dining, boutique shopping, and community events, making it a sought-after rental location. Whether expanding your portfolio, beginning your investment journey, or exploring owner-occupancy options, 817 E Palmyra offers a rare mix of historic charm and financial opportunity. Step into a property that balances timeless appeal with modern returns.

Neighborhood Comparison

 SubjectAverage HomeNeighbourhood Ranking (8 Listings)
Beds00
Baths00
Square foot1,6562,065
44%
Lot Size6,9706,970
50%
Price$1.5M$1.4M
78%
Price per square foot$906$740
89%
Built year19231962
22%
HOA
Days on market1027126
89%
Condition Rating
Fair

The property was built in 1923. The images show that some parts of the property have been updated, while others retain their original, older style. For example, one kitchen appears to be updated with modern appliances and cabinetry, while another has older cabinetry and appliances. The bathrooms also appear to be a mix of updated and original features. Overall, the property seems to be maintained but shows its age and would benefit from further updates to bring it up to modern standards.
Pros & Cons

Pros

Income Potential: The property features a duplex with an additional converted garage unit, providing immediate and significant rental income.
Prime Location: Located in the heart of Old Towne Orange, offering proximity to dining, shopping, and community events, increasing tenant appeal.
Craftsman Architecture: The classic Craftsman style provides strong curb appeal and timeless charm, attracting discerning tenants and buyers.
Fully Rented: All units are currently rented, ensuring immediate cash flow for the new owner.
Versatile Investment: Suitable for investors seeking portfolio expansion, first-time investors, or owner-occupiers looking for rental income.

Cons

Age of Property: Built in 1923, the property may require ongoing maintenance and potential upgrades due to its age.
Potential for Deferred Maintenance: Older properties can sometimes have hidden issues that require attention, potentially leading to unexpected expenses.
Garage Conversion Unit: The converted garage unit might have limitations or require further improvements to meet full rental standards or tenant expectations.

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