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331 N Olive
For Sale $1,995,000
$1,995,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 6,600 Sq Ft
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $1,995,000 |
| Property Type | Triplex (3-units) |
| Usable Sqft | Unknown |
| Number of Stories | 1 stories |
| Parking Spots | 0 spots |
| Year Built | 2025 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| HOA Fees: | $0 |
| Association Name: | Unknown |
| Association Amenities: | Unknown |
| APN # | 03915303 |
| MLS # | PW26097561 |
| Property ID | 322820376 |
| Lot Sqft | 6,600 |
| Zoning | Unknown |
| Total Units | 3 |
| Days on Market | 21 |
| Original List Price | $1,995,000 |
| Date Updated | May 06, 2026 |
| Date Created | May 05, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $6,390 | $0 |
| Net Income (Yr) | $ 95,265 |
| Cap Rate | 4.78% |
Listing Provided By
Daniel Gomez an agent of . Lic #02081392
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of May 06, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT