875 N Olive St

Orange, CA 92867

$3,115,000
Last Sold Price
20
Beds
20
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Closed 3/26/25
Closed 3/26/25

Description

This complex has ten (10) 2-bd, 2-ba units all occupied by same tenants for 10+ years. 5 units on each side of complex with common area yard in between the buildings. 3 units upstairs on each side and 2 units downstairs on each side. Downstairs units have private patios and upstairs units have balconies. Some units have minor updates but most are in good condition. Each unit has a 1-car garage and 1 assigned parking spot in parking lot. Two washers and two dryers in common area laundry room are leased...This complex has ten (10) 2-bd, 2-ba units all occupied by same tenants for 10+ years. 5 units on each side of complex with common area yard in between the buildings. 3 units upstairs on each side and 2 units downstairs on each side. Downstairs units have private patios and upstairs units have balconies. Some units have minor updates but most are in good condition. Each unit has a 1-car garage and 1 assigned parking spot in parking lot. Two washers and two dryers in common area laundry room are leased and maintained by National Service Company. Current owner pays for gardener, pest control, water and trash services. It is believed the construction is 1993 but buyer should verify year built. With improvements, rents can be increased to market rates which are substantially higher than the current rents, huge upside on this property.
  1. Listed by John Muirhead • DRE #00961702 • Brokerage DRE #00745605 • Seven Gables Real Estate • 714-501-3783
  2. Listed by Heather Vuncanon • DRE #02090328 • Brokerage DRE #00745605 • Seven Gables Real Estate

Property Details for 875 North Olive Street

View
Courtyard
Parking Spaces Total
20
Private Pool
No
Cooling Type
Central Air
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
0
LISTING UPDATED: 03/28/2025 10:14 AM

Property Details for 875 North Olive Street

StatusClosed
MLS #OC25036781
Days on Market4
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1993
Lot Size0.44 AC / 19,254 SF
CountyOrange County
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Location

Listing Courtesy of Seven Gables Real Estate, John Muirhead, DRE #00961702; Seven Gables Real Estate, Heather Vuncanon, DRE #02090328

Sold By Seven Gables Real Estate, Heather Vuncanon, DRE #02090328

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Building Information for 875 North Olive Street

Stories2Residences-Year Built1993Building Size-Lot Size0.44 AC / 19,254 SF

Payment Calculator

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OriginPoint Mortgage or Rocket Mortgage1

$16,879 per month

30 year fixed, 6.15% Interest

Principal and Interest

$15,182

Property Taxes

$1,697

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 875 North Olive Street

Rental Info
Rental Info
  • Tenant Pays: Electricity
Income / Expense / Tax Details
Income Details
  • Gross Income: $200,700
  • Gross Scheduled Income: $205,747
  • Gross Operating Income: $88,696
  • Net Operating Income: $117,051
  • Number Of Rented Garages: 10
  • Laundry Income: $5,048
  • Gross Multiplier: 14.7
  • Cap Rate: 4.0
  • Financing: Cash
Expense Details
  • Operating Expense: $88,696
  • Gardener Expense: $4,180
  • Fuel Expense: $4,073
  • Pest Control Expense: $1,543
  • Electric Expense: $2,000
  • Insurance Expense: $2,860
  • Maintenance Expense: $18,340
  • Professional Management Expense: $14,808
  • Other Expense: $4,508
  • Other Expense Description: Legal
  • Trash Expense: $4,472
  • Water Sewer Expense: $8,310
  • Total Expenses: $88,696
Tax / Assessment Info
  • Tax Annual Amount: $18,669
  • Tax Block: G
  • Tax Tract Number: 175
  • Tax Census Tract: 762.04
  • Tax Lot: 1
Community / Development
Community / Development
  • Accessibility Features: Parking
  • Disability Access: Other Main Level Modifications
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Appliances: Electric Range, Refrigerator
  • Equipment: Community, Refrigerator
  • Laundry: Yes
  • Laundry Features: Community
  • Laundry Equipment Own Lease: Lease
  • Fireplace Features: Bath, Dining Room, Kitchen, Living Room
  • Fireplace Rooms: Bath, Dining, Kitchen, Living Room
  • Cooling: Central Air
  • Heating Type: Forced Air
  • Heating: Forced Air
  • Flooring Type: Carpet
  • Flooring: Carpet
Exterior Features
  • Security Features: Carbon Monoxide Detector(s), Smoke Detector(s)
  • Entry Location: 1
  • View Description: Courtyard
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft, Sprinklers In Front
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Utilities: Sewer Connected
  • Electric: Sewer Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking: Yes
  • Parking Garage: Garage, Parking Space
  • Uncovered Spaces: 10
  • Open Other Spaces Total: 10
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
  • Parking Features: Garage, Parking Space
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,705
  • Unit Type Total Rent: $1,705
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,630
  • Unit Type Total Rent: $1,630
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 10
Unit 3
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,655
  • Unit Type Total Rent: $1,655
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 2
Unit 4
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,680
  • Unit Type Total Rent: $1,680
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 3
Unit 5
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,680
  • Unit Type Total Rent: $1,680
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 4
Unit 6
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,705
  • Unit Type Total Rent: $1,705
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 5
Unit 7
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,630
  • Unit Type Total Rent: $1,630
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 6
Unit 8
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,680
  • Unit Type Total Rent: $1,680
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 7
Unit 9
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,680
  • Unit Type Total Rent: $1,680
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 8
Unit 10
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,680
  • Unit Type Total Rent: $1,680
  • Unit Type Pro Forma: 2450
  • Unit Type Type: 9
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1
  • Number With Range: 10
  • Number With Refrigerator: 10
  • Number With Disposal: 10

Property History for 875 North Olive Street

DateEvent & SourcePriceAppreciation
Mar 26, 2025

Sold

CRMLS #OC25036781

$3,315,000—
Mar 26, 2025

Sold

CLAW #OC25036781MR

$3,315,000—
Mar 26, 2025

Sold

CRMLS #OC25036781

$3,115,000—
Mar 26, 2025

Sold

CLAW #OC25036781MR

$3,115,000—
Mar 17, 2025

Pending

CRMLS #OC25036781

—
Feb 28, 2025

Sold (Public Record)

Public Record #1553876423

$3,115,000—
Feb 24, 2025

Pending

CLAW #OC25036781MR

—
Feb 24, 2025

Accepting Backup Offers

CLAW #OC25036781MR

—
Feb 24, 2025

Accepting Backup Offers

CRMLS #OC25036781

—
Feb 20, 2025

Listed (Active)

CLAW #OC25036781MR

$2,950,000—
Feb 20, 2025

Listed (Active)

CRMLS #OC25036781

$2,950,000—
DateEvent & SourcePrice
03/26/2025

Sold

CRMLS #OC25036781

$3,315,000
03/26/2025

Sold

CLAW #OC25036781MR

$3,315,000
03/26/2025

Sold

CRMLS #OC25036781

$3,115,000
03/26/2025

Sold

CLAW #OC25036781MR

$3,115,000
03/17/2025

Pending

CRMLS #OC25036781

—
02/28/2025

Sold (Public Record)

Public Record #1553876423

$3,115,000
02/24/2025

Pending

CLAW #OC25036781MR

—
02/24/2025

Accepting Backup Offers

CLAW #OC25036781MR

—
02/24/2025

Accepting Backup Offers

CRMLS #OC25036781

—
02/20/2025

Listed (Active)

CLAW #OC25036781MR

$2,950,000
02/20/2025

Listed (Active)

CRMLS #OC25036781

$2,950,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 875 North Olive Street

Taxable ValueLand$747,068Additions$917,281Total$1,664,349
Tax Record2025$20,368 ($1,697 / month)
Home Facts
Lot Size18,659 SqFtStyleMulti-Family Dwelling (2-4)CountyORANGEAPN386-434-19

Schools near 875 North Olive Street

This home is within Orange Unified School District.
Rating
School
Type
Grades
Distance
California Elementary School
Public - K to 6
Yorba Middle School
Public - 6 to 8
Orange High School
Public - 9 to 12
Richland Continuation High School
Public - 9 to 12
Rating
School
Distance
California Elementary School
PublicK to 6

Yorba Middle School
Public6 to 8

Orange High School
Public9 to 12

Richland Continuation High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Seven Gables Real Estate, John Muirhead, DRE #00961702; Seven Gables Real Estate, Heather Vuncanon, DRE #02090328

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.