Orange Multifamily Properties for Sale

Chapman University and Old Towne Drive a Strong Multifamily Market

Chapman University and Old Towne Drive One of OC's Best Multifamily Markets

As a local broker, I rank the City of Orange as one of the top three multifamily investment markets in Orange County. Chapman University drives structural off-campus housing demand from 10,000-plus students who primarily rent in the surrounding areas. Old Towne Orange, with its nationally recognized historic plaza district, has become a walkable lifestyle destination that commands premium rents from young professionals and students who want character and convenience.

Orange residential income property for sale

Residential income property in the Orange market

St. Joseph Hospital and the broader medical corridor add a professional renter base largely independent of the university cycle. The combination of institutional housing demand from Chapman, historic neighborhood character, and a diverse employment base makes Orange one of the most well-rounded multifamily investment markets in the county. Whether you are executing a 1031 Exchange or acquiring your first income property with FHA financing, Orange consistently delivers strong fundamentals.

Want to discuss cap rates, zoning, or off-market opportunities in Orange? Call or text me directly: 949-430-7500

Build Your Orange Portfolio

Multifamily inventory in Orange is often sold via pocket listings before ever hitting the MLS. Off-market access is the difference between finding a deal and watching someone else close it.

Orange Multifamily Investment FAQ

How does Chapman University affect the City of Orange rental market?

Chapman University enrolls over 10,000 students and provides limited on-campus housing, which means a significant portion of the student population rents in the surrounding areas. This creates structural demand for 2-4 unit properties within walking or biking distance of campus. Student renters in Orange tend to accept smaller or older units that professional renters might pass on, which is valuable for investors acquiring unrenovated value-add properties. The university also employs faculty and staff who form a professional renter base in the broader area.

What is house hacking and how does it work in Orange?

House hacking is the strategy of purchasing a multifamily property, living in one unit, and renting the others to offset your mortgage. In Orange, fourplexes are the most common house hacking vehicle because they qualify for owner-occupied FHA financing, which allows lower down payments than conventional investment loans. The rental income from the other three units can significantly reduce or eliminate the owner's housing cost. FHA loan limits for 4-unit properties in Orange County are updated annually. Contact us for the current figure before running your numbers.

Does Orange have rent control?

Orange does not have local rent control, but California's AB 1482 statewide rent cap applies to most multifamily properties that are more than 15 years old and not single-family homes or condos. AB 1482 limits annual rent increases to 5% plus local CPI, with a maximum of 10%. Properties built within the last 15 years are exempt. Buyers should review current AB 1482 applicability for any specific property with a real estate attorney before closing, as the rules have nuance around exemptions and just cause eviction requirements.

Are Orange multifamily properties good for a 1031 exchange?

Yes, for the right buyer profile. Orange multifamily offers a combination of rental demand fundamentals and ADU upside that makes it a credible 1031 exchange destination. The key is identifying properties with genuine value-add potential rather than paying a premium for cap rate compression that has already occurred. Working with an agent who has off-market access is essential in this segment, as the best opportunities rarely hit the public MLS.

Orange Multi-Family Properties for Sale

$1,475,000
5 Beds ⋅ 3 Baths ⋅ 26897423 MLS ⋅ Active Status
Experience the quintessential Old Towne Orange lifestyle with this fully stabilized two-on-a-lot income property, just one mile from Chapman University! The main residence (4BR/2BA, 1,522 sq.ft.) showcases authentic mid-century character with vaulted beamed ceilings, hardwood and tile flooring, dual-pane windows, and an open floor plan anchored by a cozy fireplace with sliding glass doors opening to the rear yard. Both bathrooms have been tastefully updated, and the kitchen offers oak cabinetry, granite countertops, a built-in wine rack, and stainless appliances including a gas range and dishwasher. Every bedroom features generous closet space. The second residence (1BR/1BA, 405 sq.ft.), a permitted garage conversion completed in 2026, is brand new construction throughout and remains under contractor warranty, leased at $2,200 per month. Both units are leased through August 2027 with tenants covering all utilities, producing $6,950 per month with zero vacancy exposure. All maintenance items have been addressed, the main-house punch list was completed at lease-up, and the general contractor remains available to a new owner - no deferred maintenance and no near-term capital expenditures anticipated. Outside, enjoy a covered patio, mature front landscaping, a stone walkway, long driveway, carport and off-street parking, plus a large level rear yard offering a clean slate for turf, landscaping, and a dividing fence to give each unit its own private outdoor space. With a location just a short stroll to Chapman University, the Orange Circle, and the eclectic dining, coffee and boutique shopping of Old Towne, plus Metrolink, St. Joseph Hospital, UCI Health and quick 55 and 22 freeway access, this turn-key property is a high-demand rental or a perfect multi-generational setup. At the current list price of $1,475,000, in-place rents equate to approximately a 17.69X GRM and a 4.41% CAP Rate. Notably, the main residence was leased at $6,100 per month as recently as July 2026 - restored to that level the property collects $8,300 monthly, or approximately a 14.81X GRM and an estimated 5.51% CAP Rate.

526 N Emerald Drive, Orange
$3,190,000
OC26168756 MLS ⋅ Active Under Contract Status
Rare Opportunity: Two Orange Fourplexes on Two Expansive Separate Lots - Conventional Residential Financing Available – No Commercial Loan Required! 219 & 229 S. Oak Street present an exceptionally rare opportunity to acquire two contiguous fourplexes being sold together. 219 Oak was built in 1967 and 229 Oak was built in 1957. Each property consists of only four residential units, each building qualifies for its own conventional conforming residential financing, eliminating the need for commercial financing and providing investors with more attractive lending options. Together, the properties comprise 8 apartment units situated on two separate parcels totaling approximately 21,168 square feet. This unique offering allows an investor to benefit from the economies of scale associated with a larger apartment investment while maintaining the flexibility and financing advantages of owning two separate four-unit properties. Each fourplex consists of three 1-bedroom/1-bathroom units and one 2-bedroom/1-bathroom unit, with approximately 2,738 square feet of living space per building. Located at the end of a cul-de-sac, the two buildings face one another across a beautifully landscaped shared courtyard enclosed by a classic white picket fence. This charming cottage-style setting creates exceptional curb appeal and provides residents with an inviting community atmosphere rarely found in apartment properties. Situated in one of Orange County's most desirable rental markets, this offering combines strong tenant appeal, long-term investment stability, and outstanding upside potential. Residents enjoy amenities that have become increasingly difficult to find in today's rental market: Private enclosed garages with metal roll-up doors and automatic openers One dedicated parking space directly in front of each garage In-unit washer/dryer hookups and Individual water heaters in each unit Private concrete patios and enclosed yard areas accessed through sliding glass doors From an ownership perspective, the properties offer an efficient expense structure. Residents pay for their own natural gas service, there are no house gas or house electric meters, and owner-paid expenses are generally limited to water, trash, and landscaping. In addition, new electrical subpanels have recently been installed, providing a valuable capital improvement. Opportunities to acquire adjacent fourplexes of this quality and scale in such a prime Orange location are exceptionally rare.

219 S Oak Street, Orange
$1,675,000
PW26164332 MLS ⋅ Active Status
Imagine a duplex on a spacious 18,000-square-foot lot—a fantastic opportunity to boost your investment! You could live in one side while you plan your next project, or lease both units for instant, steady cash flow. Located in the highly desirable Orange Hills area, just south of Chapman, this unique property offers stunning views of the iconic Orange County Mining Co. hills. This duplex is on a large lot, giving you the flexibility to turn it into an additional ADU building. Each of the two identical units, about 1400 square feet, features a spacious, mirror-image layout with three bedrooms, two bathrooms, a master bedroom with a walk-in closet and a private bath with two sinks, and a private two-car garage. The layout ensures structural privacy between the units, connected by a garage wall and master bath, so tenants will be happy or you can create the perfect setup for an owner-occupant. One side has been a reliable rental for years on a comfortable 5,000-square-foot lot, providing immediate cash flow. The other side is a well-maintained, owner-occupied unit on a huge 13,000-square-foot lot. The yard is absolutely beautiful, filled with fruit trees like apples, oranges, pomegranates, and lemons, giving it that vineyard feel with a serene and peaceful atmosphere. This massive yard is the perfect canvas for developers to add detached units, build Accessory Dwelling Units (ADUs), or restructure the parcel to maximize unit density. You could live in the owner’s suite while you plan your next project. Bring your contractor, check the zoning rules, and secure a great return on your investment today! Drive-by only to start.

175 S Woodlawn Drive, Orange
$2,895,000
PW26163763 MLS ⋅ Active Status
8 one-bed, one-bath townhomes in the Old Towne Orange Area, right next to Hart Park. This is a fantastic Value-Add opportunity to have an 8-plex in a city without local rent control ordinances. The eight units are spread across three buildings on one lot, with two separate garage areas that house eight cars and six uncovered striped parking spots. There is a community laundry room with an electric coin-op washer/dryer. A few units have a fantastic view overlooking Hart Park and a commuter's dream of being next to public transit and the 22 Freeway. All the units have a similar layout with a living area and attached kitchenette on the ground level, while upstairs, you have a bedroom with an attached full bathroom. South Grand St is a walking pathway between Hart Park and the Old Towne Orange Plaza. Long time owner and long term tenants, all on month to month leases.

646 S Grand Street, Orange
$1,440,000
4 Beds ⋅ 3 Baths ⋅ 26864123 MLS ⋅ Active Status
145 W. Mayfair Avenue is a fully renovated, turnkey three-unit multifamily investment. All three units are single-story and were completely updated inside and out in 2026. Three on-site garages offer a straightforward path to ADU construction, adding a fourth unit for an investor willing to pursue it.

145 W Mayfair Avenue, Orange
$1,250,000
PW26153954 MLS ⋅ Active Under Contract Status
Great duplex to live in one side and rent the other. Each home has a garage with it's own laundry hook ups. The smaller unit is 2 bedrooms and 2 baths. It has some nice updates-smooth ceilings, Luxury Vinyl floors and an updated kitchen. The dining room opens to the small private back yard. There is a real main bedroom with attached bath. this unit has a one car garage. The larger 3 bedroom home on the left side has a private entrance and a fireplace in the living room. The white kitchen has newer quartz counters. This home has a full size 2 car garage.The third bedroom has a sliding glass door to the back yard. Both units are in clean condition and are currently rented to tenants who would like to stay. Currently rents are under market rate. Great location next to Villa Park east of the 55 freeway and north of Chapman.

885 N Kathleen, Orange
$3,450,000
OC26141584 MLS ⋅ Active Status
337-343 North Magnolia Street is a four-unit residential property located in the City of Orange, California. The property features a rare single-family-style rental profile, consisting of three newly constructed 3-bed/2-bath homes with large loft space built in 2026 and one 4-bed/2-bath home that was originally constructed in 1950 and fully renovated in 2025. The three newly constructed homes have never been lived in and feature modern interior finishes, dramatic 16-foot vaulted ceilings, spacious loft areas, in-unit laundry, private entrances, yards/patios, and all-electric systems with individual metering. The original 4-bed/2-bath home has been fully remodeled and includes a new HVAC system, offering an updated residence that complements the newly constructed units. The property is further enhanced by no shared walls, eight on-site parking spaces, individual water heaters, solar serving the three newly constructed units, new sewer laterals for all four homes, an expected 80% water utility reimbursement through RUBS, and individual trash billing directly to the City. These features help create a highly functional rental property with modern tenant amenities and a streamlined operating structure. Located near Chapman University and Old Towne Orange, the property offers residents convenient access to two of the city’s most important demand drivers.

337 343 N Magnolia Street, Orange
$1,624,000
OC26120119 MLS ⋅ Active Status
Remodeled Triplex. Two 2 bedrooms & 1 bathroom and a Studio. All three units have been upgraded in the last Two Years. Newer roof, Appliances, Electrical panel, Flooring, Windows, Etc.. All work done professionally and with Permits. Each unit has it's own Washer and Dryer. Each 2 Bedroom units has it's own private Front and Side yard. Great location near the Downtown Circle, Chapman University, Hospitals, Shopping and Restaurants. Please do not approach tenants or walk on property.

333 335,337 E La Veta, Orange
$1,695,000
DW26101770 MLS ⋅ Active Status
Excellent investment opportunity in the highly desirable City of Orange. This well-maintained fourplex features an attractive unit mix of one spacious 3-bedroom, 2-bath unit and three 2-bedroom, 2-bath units, offering strong tenant demand and long-term rental stability. Current gross monthly income is approximately $10,055, plus additional income from onsite community coin laundry. All units are occupied by long-term tenants with a strong payment history, providing immediate and stable cash flow from day one. Each unit is separately metered for gas and electricity, helping minimize owner expenses and maximize operational efficiency. The property also offers excellent parking with five garage spaces and additional onsite parking, a valuable feature rarely found in multifamily properties of this size. Recent capital improvements include replacement furnaces in Units A and B, a commercial-sized water heater, and updated common area electrical timer systems. Ideally located near The Village at Orange, major shopping, dining, schools, employment centers, and convenient access to the 55, 57, and 91 freeways. Strong rental demand, stable in-place income, and future rental upside make this a compelling opportunity for both seasoned and first-time multifamily investors. Rarely does a fourplex in such a desirable Orange location offer this combination of unit mix, parking, income stability, and long-term investment potential.

1918 E Del Mar, Orange
$1,589,000
PW26029563 MLS ⋅ Active Under Contract Status
TWO ON A LOT! Great opportunity to own a remodeled Two on a Lot in Charming Old Towne Orange. Front home is 1,116 square feet with 3 bedrooms, 2 baths and a 1 car attached garage with laundry, tile flooring and fenced front yard. Rear home is 875 Square feet with 2 bedrooms, 1 bath, newer vinyl plank flooring, an attached 1 car garage with laundry and a "To Die For" back yard with a covered patio, above-ground spa and built-in storage shed. Perfect for multi-family or potential income. Recent extensive remodeling include both kitchens and all 3 bathrooms in both units. Mini-Splits and AC wall units, newer flooring, newer roof, mostly newer windows, in both units. Quartz counter tops, stainless steel appliances (rear unit only), decorator tile and so much more! currently use as a multi-family.

151 S Parker Street, Orange
Start Your Search

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.