Located in the heart of Orange, just steps from Chapman University, 417 N Citrus Ave offers a rare opportunity for an owner occupant to offset a large portion of their monthly mortgage with built-in rental income already in place.
The property features a 4 bedroom, 2 bathroom front house along with a newly built 2024 detached 2 bedroom, 1 bathroom ADU in the rear. Whether you are a parent looking to purchase housing for your Chapman student, a young family wanting help with monthly payments, or a buyer planning for long-term wealth creation, this setup provides flexibility that is hard to find in Orange.
The rear ADU is currently leased at $3,200 per month through May 31, 2027, creating stable income from day one. Live in the front house while the ADU helps offset your mortgage, insurance, taxes, and monthly expenses. For many buyers, this can dramatically reduce the true monthly cost of ownership compared to purchasing a traditional single family home.
The front house offers a flexible layout with a variety of bedroom sizes, making it ideal for families, roommates, or students. The detached ADU was completed in 2024 with modern finishes, private living space, and its own in-unit washer and dryer. The front house also includes separate laundry located in the garage.
For parents of Chapman students, this property creates the ability to own instead of rent during college years while benefiting from rental income and long-term appreciation in one of Orange's strongest housing markets. Buyers can live in one unit today and maintain a future investment property with proven rental demand near Chapman University.
The property can also function as a fully leased investment, currently generating $9,110 per month in gross rental income. At the current list price of $1,695,000, the property has an approximate 15.4 GRM and an estimated 4.9% CAP rate, supported by a low expense profile with Tenants paying utilities.
Properties that combine owner-occupant flexibility, newer construction, and strong income potential, this close to Chapman University, rarely come available.
Property Type(s):
Single Family
Additional Details
| AIR |
Central Air |
| AIR CONDITIONING |
Yes |
| AREA |
72 - Orange & Garden Grove, E of Harbor, N of 22 F |
| FIREPLACE |
Yes |
| GARAGE |
Yes |
| LOT |
6599 sq ft |
| LOT DIMENSIONS |
6600 |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
1 |
| SUBDIVISION |
unknown |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Neighborhood |
| WATER |
Public |
Location
Listed with BHHS Drysdale Properties
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 6/2/26 6:06 PM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2026.
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