481 Cypress St Orange, CA 92866
- Dormitories
- 1,960 SF
Current Use by Public Records
- Dormitories
Property Details for 481 Cypress St
- Property size
- 1,960 SF
- Property type
- Dormitories
- Property subtype
- Student housing
Description
Exceptional investment opportunity in Orange, CA, this Class A, stabilized student housing property presents a compelling case for investors seeking strong returns. Priced at $2,075,000, this multifamily property boasts 1,960 square feet and features two units with a total of six bedrooms and 3.5 bathrooms. Currently operating at 100% occupancy, the property generates a substantial NOI of $102,432, translating to a 4.94% cap rate and a pro-forma cap rate of 5.06%. The property's strong performance is further underscored by a price per square foot of $1,058.67 and a price per unit of $1,037,500. The property includes a main house with four bedrooms and three bathrooms, and a permitted Accessory Dwelling Unit (ADU) with two bedrooms and one bathroom. The property is situated on a lot with a large backyard, offering ample space and privacy. While currently configured as student housing, the property's versatile layout presents numerous possibilities for future use. This is a rare opportunity to acquire a high-performing asset with significant potential for long-term growth. The property is not subject to a ground lease. Additional interior and yard photos are available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Orange
- County
- Orange
- State
- California
- Longitude
- -117.8559958
- Latitude
- 33.7947015
