Updated Triplex With
242 S Park, Orange, CA 92866
For Sale
$1,425,000
Three two-bedroom residences each include a private patio and single garage.
Property Size2,628 SF
Days on Market56
Property Features for 242 S Park
General Information
Standard status
Size
Property subtype
Building Details
Building Size
Year Built
Units
Listing Agency:
Godin Properties Inc.
Listed By:
Francine Hodges
(714) 932-8030
Source:
Elliman
Added: Sep 16
Changed: Oct 30
Last Checked: Nov 8 at 6:24AM
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 Godin Properties Inc.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Located at 242 S Park in Orange, this 1961 triplex contains three two-bedroom, one-bath units. Each residence includes a private patio and its own single garage, providing dedicated outdoor space and parking. The property also has a separately metered laundry room that is currently used for storage.
Recent improvements include a newer roof, exterior paint, front doors, security screen doors, windows, and water heater. Two kitchens have been remodeled, and all three bathrooms have been updated. The building is occupied by long-term tenants. BikeScore is 42, WalkScore is 17, and TransitScore is 24, reflecting a car-dependent setting with limited transit access.
Recent improvements include a newer roof, exterior paint, front doors, security screen doors, windows, and water heater. Two kitchens have been remodeled, and all three bathrooms have been updated. The building is occupied by long-term tenants. BikeScore is 42, WalkScore is 17, and TransitScore is 24, reflecting a car-dependent setting with limited transit access.
Key Highlights
- Three two‑bedroom, one‑bath units
- Private patio and single garage for each unit
- Newer roof, paint, windows, doors, and water heater
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,596
Cap Rate
3.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,011,920
$1.0M
Cap Rate 7%
$722,800
$722.8K
Cap Rate 9%
$562,178
$562.2K
Market Conditions
NOI Build-Up for 2,628 SF
Gross rent
$75.7K $28.80/SF
− Vacancy
−$3.4K −$1.30/SF
EGI
$72.3K $27.50/SF
− OpEx
−$21.7K −$8.25/SF
NOI
$50.6K $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 Rate 5%
$1,011,920
Cap Rate 7%
$722,800
Cap Rate 9%
$562,178
Alternative Uses
Best Use
Multifamily LT 5
$722.8K
$632.5K – $843.3K
NOI $50,596 @ 7.0% cap · market cap 3.55%
Second Best
Apartment 5plus
$665.3K
$582.2K – $776.2K
NOI $46,574 @ 7.0% cap · market cap 3.27%
Theoretical Best
Office A
$950.1K
$831.3K – $1.11M
NOI $66,506 @ 7.0% cap · market cap 4.67%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Location Intelligence
Trade Area within ½ mile
691
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
$892,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Triplexes in Orange County, CA
Properties on Market for Triplexes in Orange County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences each include a private patio and single garage.
Where is this triplex located?
The property is located at 242 S Park Orange, CA.
What is the asking price?
The asking price for this property is $1,425,000.
What are key features of this property?
This property features: Three two‑bedroom, one‑bath units; Private patio and single garage for each unit; Newer roof, paint, windows, doors, and water heater
