Covington-Style 4-Plex with
2051 N Highland Street Orange, CA 92865
2051 N Highland Street, Orange, CA, 92865
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For Sale
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Covington-style 4-plex offering multiple 2- and 3-bedroom units, with four single-car garages plus patios and decks.
Property Size4,500 SF
Price / SF$377.78
Days on Market320
Property Features for 2051 N Highland Street
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Multifamily
Listing agency
Hoyt Real Estate Inc
(949) 283-1696
Listed by
Matthew Hoyt · License #CA 01426139
Source
Crexi
Added: Sep 5, 2025 Updated: Jul 20 at 11:15PM Checked: Jul 21 at 10:47AM
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 Hoyt Real Estate Inc
Investment Insights
Based on property information with market context.
This Covington-style 4-plex includes one large front unit with approximately 3 bedrooms and 2 baths, and three additional units with approximately 2 bedrooms and 2 baths each. The property provides a total of four single-car garages, along with two patios and two decks.
The building is positioned in Downtown Orange and noted as being within the Villa Park School district. Public remarks indicate it is one block from Orange Mall and nearby shopping centers.
Tenants are responsible for their own gas and electric, supporting a more tenant-paid utility setup for the individual units.
The building is positioned in Downtown Orange and noted as being within the Villa Park School district. Public remarks indicate it is one block from Orange Mall and nearby shopping centers.
Tenants are responsible for their own gas and electric, supporting a more tenant-paid utility setup for the individual units.
Key Highlights
- Covington‑style 4‑plex with one large 3‑bedroom, 2‑bath front unit plus three additional 2‑bedroom, 2‑bath units
- Unit sizes include approximately 1,600 SF for the 3‑bedroom front unit and approximately 1,050, 950, and 900 SF for the 2‑bedroom units
- Four single‑car garages—one per unit—with additional outdoor space including 2 patios and 2 decks
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.6k | $28.80 |
| − Vacancy | −$5.8k | −$1.30 |
| EGI | $123.8k | $27.50 |
| − OpEx | −$37.1k | −$8.25 |
| NOI | $86.6k | $19.25 |
4,500 SF · lease $28.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.24M
$1.08M – $1.44M
NOI $86,638 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$1.14M
$996.9K – $1.33M
NOI $79,750 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,880 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Covington-style 4-plex offering multiple 2- and 3-bedroom units, with four single-car garages plus patios and decks.
Where is this quadplex located?
The property is located at 2051 N Highland Street Orange, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Covington‑style 4‑plex with one large 3‑bedroom, 2‑bath front unit plus three additional 2‑bedroom, 2‑bath units; Unit sizes include approximately 1,600 SF for the 3‑bedroom front unit and approximately 1,050, 950, and 900 SF for the 2‑bedroom units; Four single‑car garages—one per unit—with additional outdoor space including 2 patios and 2 decks
