Orange Grove Apartments, a multifamily property in Orange, has recently been placed up for sale. According to the listing from The Leeson Group of Marcus & Millichap, the 78-unit property is on the market with a price tag of $33 million, amounting to approximately $423,078 per unit.
Public records show that the property last traded in 2021, when it was acquired by an entity linked to Irvine-based IRA Capital for $22 million, or about $282,051 per square foot.
Orange Grove Apartments is located across multiple addresses, which include 1522 West Almond Ave., 1610 West Almond Ave., 220 South McCoy, 221 South McCoy, 230 South McCoy, 231 South McCoy, 254 South McCoy, 255 South McCoy, 264 South McCoy and 265 South McCoy.
According to the listing, Orange Grove Apartments offers two-bedroom floor plans, with townhomes comprising 92 percent of the units. The property boasts a range of amenities as well, such as private patios, garage parking and in-unit laundry machines. The current ownership has made substantial capital investments to enhance the living experience for residents, with 50 out of the 78 units having undergone renovations featuring high-quality finishes. These upgrades include new appliances, plumbing fixtures, flooring, cabinetry, paint and more.
The property is situated within walking distance of Chapman Avenue and is less than a mile away from Old Towne Orange,offering various retail and dining amenities. Within a little over a mile, residents can access the Platinum Triangle, home to popular Orange County destinations like Angel Stadium and The Honda Center. Furthermore, The Outlets at Orange, a hub of retail amenities, is also conveniently located just over a mile away. Commuting convenience is further enhanced by the property’s proximity to the Interstate 5 and State Route 22 Interchange.
