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875 N Olive ST Orange, CA 92867
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Key Details
Sold Price $3,115,000
Property Type Commercial
Sub Type Commercial/Residential
Listing Status Sold
Purchase Type For Sale
MLS Listing ID OC25036781
Sold Date 03/26/25
HOA Y/N No
Year Built 1993
Annual Tax Amount $18,669
Lot Size 0.442 Acres
Acres 0.442
Property Sub-Type Commercial/Residential
Property 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 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.
Location
State CA
County Orange
Area 699 - Not Defined
Interior
Heating Forced Air
Cooling Central Air
Flooring Carpet
Fireplaces Type Bath, Dining Room, Kitchen, Living Room
Fireplace 1
Appliance Electric Range, Refrigerator
Laundry Community
Exterior
Parking Features Garage, Parking Space
Garage Spaces 10.0
Pool None
Community Features Sidewalks
Utilities Available Sewer Connected
View Y/N 1
View Courtyard
Handicap Access Parking
Private Pool No
Building
Lot Description Lot 10000-19999 Sqft, Sprinklers In Front
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
Special Listing Condition Standard
Lease Land No
Confidential INFO
TERMS 1031 Exchange,Cash,Conventional
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE None
SHOW INSTRUCTIONS OFFER DEADLINE 6:00PM FRIDAY 2/21/25. Drive by only, inspections after offer is accepted. Please do not disturb tenants.
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