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526 N Emerald Drive

Orange, CA 92868
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Bed 5

Bed

Bath 3

Bath

SqFt1,927

Sqft

SqFt6,344

Sqft(Lot)

Experience the quintessential Old Towne Orange lifestyle with this fully stabilized two-on-a-lot income property, just one mile from Chapman University! The main residence (4BR/2BA, 1,522 sq.ft.) showcases authentic mid-century character with vaulted beamed ceilings, hardwood and tile flooring, dual-pane windows, and an open floor plan anchored by a cozy fireplace with sliding glass doors opening to the rear yard. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, and stainless appliances including a gas range and dishwasher. Every bedroom features generous closet space. The second residence (1BR/1BA, 405 sq.ft.), a permitted garage conversion completed in 2026, is brand new construction throughout and remains under contractor warranty, leased at $2,200 per month. Both units are leased through August 2027 with tenants covering all utilities, producing $6,950 per month with zero vacancy exposure. All maintenance items have been addressed, the main-house punch list was completed at lease-up, and the general contractor remains available to a new owner - no deferred maintenance and no near-term capital expenditures anticipated. Outside, enjoy a covered patio, mature front landscaping, a stone walkway, long driveway, carport and off-street parking, plus a large level rear yard offering a clean slate for turf, landscaping, and a dividing fence to give each unit its own private outdoor space. With a location just a short stroll to Chapman University, the Orange Circle, and the eclectic dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55 and 22 freeway access, this turn-key property is a high-demand rental or a perfect multi-generational setup. At the current list price of $1,475,000, in-place rents equate to approximately a 17.69X GRM and a 4.41% CAP Rate. Notably, the main residence was leased at $6,100 per month as recently as July 2026 - restored to that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $1,475,000

AD Id : 90852834

MLS Id : 26897423

Beds : 5

Lot Size : 6,344 Sqft

Living Area Size : 1,927

Year Built : 1956

County : Orange

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Feature Features

  • Bedroom Information

    Total beds: 5

    Bathroom Information

    Total Baths: 3

    Roofing Information

    Composition, Shingle

    Flooring Information

    Wood
  • Interior Features

    CeilingFans
    Roof: Composition, Shingle
    Appliances: Dishwasher, Disposal, Refrigerator, Dryer, Washer
    Laundry Features: Outside
  • Heating & Cooling

    Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

  • Building Information

    Year Built: 1956
    Building Area Total: 1927
    Construction Materials: Stucco
    Stories: 1
    Pool Features: None
    Private Pool: No

  • Lot Information

    Lot Dimensions: 61x104 Main Square Feet: 6344 Lot Size Acres: 0.1456 Lot Size Square Feet: 6,344 Lot Description: BackYard,FrontYard

  • Listing Price Information

    Listing Price: $1475000
    Cash, Conventional

  • Tax Information

    Parcel Number: 03929211

  • Location Information

    Direction: 55 Fwy, exit Chapman Ave west. Right on N Main St, left on W Walnut Ave, right on N Emerald Dr.
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
151 S Parker Street, Orange, CA, 92868 $1,589,000 5 3 1,991 6,325 Sqft
245 S Parker Street, Orange, CA, 92868 $1,350,000 4 3 2,290 6,000 Sqft
460 S Pixley, Orange, CA, 92868 $1,095,000 2 2 1,174 6,480 Sqft
278 N Citrus, Orange, CA, 92868 $950,000 3 2 1,297 6,320 Sqft
1104 W Palm Avenue, Orange, CA, 92868 $1,545,000 5 4 2,578 7,012 Sqft
1245 W Cherry, Orange, CA, 92868 $825,000 3 2 1,263 6,000 Sqft
1127 Acacia, Orange, CA, 92868 $1,175,000 4 2 1,499 7,009 Sqft
1052 W Palmyra, Orange, CA, 92868 $1,138,000 3 2 1,383 11,850 Sqft
2003 W Willow Avenue, Orange, CA, 92868 $1,139,900 4 2 1,632 6,500 Sqft
1825 W Las Palmas Circle, Orange, CA, 92868 $975,000 3 2 1,492 4,410 Sqft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/03/2026 @ 08:12

MLS: 26897423 LISTED BY: Tucker Steil, Real Broker 619-663-8680 SOURCE: CRMLS

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