331 N Olive, Orange, CA 92866

Property Description

IRREPLACEABLE LOCATION in the heart of Old Towne Orange!! Just steps from the campus of Chapman University, placing this property in one of the most desirable, supply constrained rental pockets in the area. This unbeatable proximity drives consistent, year round demand from students, faculty, and young professionals. This unique triplex features three separate structures, offering an ideal unit mix for both stable cash flow and rental flexibility. The front home showcases classic Old Towne 1920s charm with a 3 bed, 1 bath layout and a recently renovated interior. The second unit is a 1 bed, 1 bath garage conversion completed in 2022, while the rear unit is a brand new ground up 2 bed, 1 bath build completed in 2025 providing low maintenance, modern construction rarely found in this historic neighborhood. Additional highlights include a shared yard, in-unit laundry, and an exceptional 91 Walk Score, with dining, retail, and entertainment just outside your door. The layout and location also make this property well suited for a home based or home occupational business, offering flexibility for owner users seeking a live/work environment in a high traffic area near campus. Ideal for owner users, 1031 exchange buyers, or investors seeking a turnkey asset in a premier location with strong rental upside and long-term appreciation potential.