Description

Rare opportunity for a student housing investor or Chapman parent! 552-554 N Cambridge St is located in a premier pocket of the City of Orange, just 0.4 miles to the prestigious and growing Chapman University, and provides immediate cash flow of over $137,000 annually (a 5% Cap rate), with additional upside. The front house is a 4 Bedroom 3 Bath that was Fully Renovated in 2022 (and partial New Construction), and the back unit is a New Construction 4 Bedroom 4 Bath unit which is Not Subject to Any Rent Control. Each unit has ensuite laundry, Air Conditioning, Forced Air Heat, High End Finishes, and private yard space for tenants' enjoyment. The property also has ample Parking - a 4-Car driveway, a single car Garage, and is situated on an Oversized 7,686 SF lot. In addition to the existing cash-flow, the property offers significant upside. With over 10% upside in current rents and the opportunity to convert the single car garage to a 3rd Unit, a Savvy investor also has the opportunity to significantly increase the income moving forward. It's not often you see New Construction Property with additional upside in one of the most sought after rental markets in Orange County. This provides access to a strong and steady student renter base - a unique hedge against any future CA rent control initiatives. Reach out to the listing team for more information and debt quotes.