875 N Olive St, Orange, CA, 92867
About This Home
875 N. Olive St. represents a rare, pride-of-ownership turnkey asset delivering an exceptionally high cap rate in the coveted Orange market. The property features ten original 1993-built, dual-master 2-bed/2-bath units with AC, all tastefully renovated and leased in 2025. Maximizing the asset's footprint, five single-car garages were fully permitted and converted into two brand-new units completed in 2026: a 2-bed/2-bath unit and an ADA-compliant 1-bed/1-bath unit. Investors will benefit from immediate stabilized cash flow with minimal deferred maintenance, anchored by a brand-new, energy-efficient central boiler system. Situated just north of Chapman Avenue, the property boasts a premier location steps from the historic Old Towne Orange Circle, offering tenants convenient access to local dining, retail, and entertainment. Its proximity to Chapman University provides a reliable, high-quality tenant pool, while nearby access to the Orange Metrolink Station and major freeways ensures excellent regional connectivity. This low-maintenance, high-yield asset is ideally positioned for a 1031 exchange or a private capital investor seeking a premium North Orange County multifamily property.
Getting Around
Very Walkable
Some Transit
BikeableSchools
Construction
Condition
- Year built: 1993
Type & Style
- Home type: MultiFamily
- Property subType: Mixed Use
Interior
Appliances
- Laundry features: None
Bedrooms & Bathrooms
- Bedrooms: 23
- Bathrooms: 23
Features
- Common walls with other units/homes: 2+ Common Walls
Interior Area
- Total structure area: 9,715
- Total interior livable area: 9,715 sqft
Property
Details
- Parcel number: 38643419
- Attached to another structure: Yes
- Special condition: Standard
Features
- Entry location: 1
- Pool features: None
Lot
- Lot size: 0.44 Acres
- Features: 6-10 Units/Acre
Parking
- Total spaces: 17
- Parking features: Garage
- Has garage: Yes
- Attached garage spaces: 5
- Covered spaces: 5
- Uncovered spaces: 12
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Heat Wave
How This Home’s Risks Compare
FEMA Declared Disasters in Orange County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $26,622 | $319,464 |
| Home Insurance * | $824 | $9,888 |
| Property Taxes | $2,808 | $33,696 |
| Electricity | $2,083 | $24,999 |
| Total | $32,337 | $388,044 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-07-13 | Price change | $5,265,000 |
| 2026-05-21 | Listed for sale | $5,325,000 |
| 2025-03-26 | Sold | $3,115,000 |
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