Two Quadplexes with Shared
New
For Sale
$3,190,000
219 S Oak St, Orange, CA 92866
Two separately parceled four-unit buildings offer cottage-style residences with garages, patios, and private outdoor areas.
Property Size5,476 SF
Lot Size0.49 Acres
Days on Market6
Property Features for 219 S Oak St
General Information
Standard status
Active
Size
5,476 SF
Lot size
0.49 Acres
Property subtype
Investment
Units
Unit Mix
6 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
8
Amenities
private enclosed garages
in-unit washer/dryer hookups
individual water heaters
private concrete patios
enclosed yard areas
landscaped shared courtyard
white picket fence
Building Details
Building Size
5,476 SF
Year Built
1967
Buildings
2
Stories
1
Units
8
Construction
cottage-style
Listing Agency:
(714) 345-4223
Listed By:
Scott Gerard
(714) 345-4223
Source:
Elliman
Added: Aug 5
Changed: Aug 10
Last Checked: Aug 10 at 7:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Scott Gerard
Investment Insights
Based on property information with market context.
This offering includes two four-unit apartment buildings on separate parcels, totaling 8 residential units and approximately 21,168 square feet of land. Each quadplex contains three 1-bedroom/1-bathroom apartments and one 2-bedroom/1-bathroom apartment, with approximately 2,738 square feet of living area per building. The buildings are arranged around a landscaped courtyard with a white picket fence and are positioned at the end of a cul-de-sac.
Resident-oriented features include enclosed garages with metal roll-up doors and automatic openers, one assigned parking space in front of each garage, in-unit washer/dryer hookups, individual water heaters, concrete patios, and enclosed yard areas connected by sliding glass doors. New electrical subpanels have been installed. Residents pay their own natural gas service, while owner-paid operating responsibilities generally include water, trash, and landscaping. The property is located at 219 and 229 S Oak St in Orange, California, with a Walk Score of 67, Bike Score of 56, and Transit Score of 24.
Resident-oriented features include enclosed garages with metal roll-up doors and automatic openers, one assigned parking space in front of each garage, in-unit washer/dryer hookups, individual water heaters, concrete patios, and enclosed yard areas connected by sliding glass doors. New electrical subpanels have been installed. Residents pay their own natural gas service, while owner-paid operating responsibilities generally include water, trash, and landscaping. The property is located at 219 and 229 S Oak St in Orange, California, with a Walk Score of 67, Bike Score of 56, and Transit Score of 24.
Key Highlights
- Two four‑unit apartment buildings sold together on separate parcels
- 8 total units with three 1‑bedroom/1‑bathroom and one 2‑bedroom/1‑bathroom unit per building
- Approximately 21,168 square feet of combined land area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$105,428
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,108,560
$2.1M
Cap Rate 7%
$1,506,114
$1.5M
Cap Rate 9%
$1,171,422
$1.2M
Market Conditions
NOI Build-Up for 5,476 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$157.7K $28.80/SF
− Vacancy
−$7.1K −$1.30/SF
EGI
$150.6K $27.50/SF
− OpEx
−$45.2K −$8.25/SF
NOI
$105.4K $19.25/SF
Area
Orange, CA
Vacancy
4.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,108,560
Cap Rate 7%
$1,506,114
Cap Rate 9%
$1,171,422
Alternative Uses
Best Use
Multifamily LT 5
$1.51M
$1.32M – $1.76M
NOI $105,428 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$1.39M
$1.21M – $1.62M
NOI $97,047 @ 7.0% cap · market cap 3.04%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,579 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,412
Businesses Nearby
Explore this area
Business Placement
Demographics for 92866, CA
15,935
Population
5,991
Households
2.7
Avg Household Size
36
Median Age
31%
College-Educated
85%
High-School Grad
1.9 sq mi
ZIP Area
8,387
Density / Sq Mi
$83,776
Median Household Income
$45,872
Median Earnings
$1,955
Median Rent
$892,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two separately parceled four-unit buildings offer cottage-style residences with garages, patios, and private outdoor areas.
Where is this quadplex located?
The property is located at 219 S Oak St Orange, CA.
What is the asking price?
The asking price for this property is $3,190,000.
What are key features of this property?
This property features: Two four‑unit apartment buildings sold together on separate parcels; 8 total units with three 1‑bedroom/1‑bathroom and one 2‑bedroom/1‑bathroom unit per building; Approximately 21,168 square feet of combined land area
