Orange, CA 92866 253 S Lemon Street

Pending
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Presented By: Mike Marcu with Mike Marcu, Broker; 562-260-0940
  • MLS# OC24205368
  • 10/03/2024
  • Request Tour
  • Request Info
  • BedBeds • 24
  • BathBaths • 1
  • FootageSQFT • 8,640

Home Details

This well located 12-unit apartment building is within walking distance to both Chapman University and Old Town Orange. Presented as a value-add opportunity, all 12 units are two-bedroom one bath townhouse style apartments. Gas and electricity are individually metered while the landlord provides hot and cold water and trash. There is no on-onsite parking and a small ex-carport structure, in the rear of the property, may offer and opportunity to add an ADU to the property. Both buildings have copper plumbing and there is a common laundry room on site.
Presented By: Mike Marcu with Mike Marcu, Broker; 562-260-0940

Interior Features for 253 S Lemon Street

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsOneCommonWall
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 253 S Lemon Street

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.25
Carport Y/NNo
CityOrange
Community FeaturesSuburban
CountyOrange
DirectionsChapman East to Lemon North
Electric Expense3205.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense3205.0
Garage Spaces0.0
Garage Y/NNo
Gross Income2628.0
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Insurance Expense7200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsCash, CashToNewLoan
Lot Size Square Feet8303.0
Lot Size UnitsSquareFeet
MLS AreaOTO - Old Towne Orange
MaintenanceExpense12663.0
MobileHomeRemainsYNNo
Net Operating Income159450.0
New ConstructionNo
Number Of Units Total12
Operating Expense92823.0
Pool FeaturesNone
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubtypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerSewerAssessments
Special Listing ConditionsStandard
Standard StatusPending
StatusPending
Tax Lot15
Taxes$42,840
Tenant PaysElectricity, Gas
Trash Expense8500.0
Water Sewer Expense4596.0
Waterfront Y/NNo
Year Built1924
Year Built SourceAssessor

Exterior for 253 S Lemon Street

Building Area Total8640.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesThirtySixToFortyUnitsAcre, StreetLevel
Lot Size Acres0.1906
Lot Size Area8303.0
Lot Size SourceAssessor
Number of Buildings2
Number of Separate Electric Meters12
Number of Separate Gas Meters13
Number of Separate Water Meters2
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking0.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $3,750,000
MLS#OC24205368
List Date 10/03/2024
Property Type Pending
Phone 714.964.3311
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