Duplexes that combine a good location, a practical floor plan, and room to grow income do not come along often in North Orange County. 309 & 311 Grace Ave in La Habra, CA 90631 is one of them. Over the next 45 days we will walk through this property from every angle: the neighborhood, the layout, the numbers, and the bigger opportunity it belongs to. Today is the introduction.
The property at a glance
309 & 311 Grace Ave is a residential duplex made up of two units. Each unit is a 2-bedroom, 1-bath layout, and together the two units total roughly 1,571 to 1,600 square feet. Both units have a dedicated living area and a dedicated kitchen, which is the kind of floor plan that tends to stay in demand with renters because it feels like a real home rather than a compromise.
The interiors are currently defurnished and vacant. Features include in-unit laundry setups, wooden cabinetry, and tiled flooring. A vacant, clean slate matters to investors because it lets a new owner choose the timing of any updates and set the first lease on their own terms.
The baseline numbers
Here are the figures as presented in the offering materials:
- Current monthly rent (both units): $2,781
- Current baseline NOI: $33,376
- Pro forma target rent: $2,400 per unit, or $4,800 per month total
- Pro forma target NOI: $57,600
- Indicated rent upside: about $2,019 per month
A quick honest note: the baseline NOI is very close to the annualized current rent ($2,781 x 12 is about $33,372). That means serious buyers should request the full expense detail, including property taxes, insurance, maintenance, and a vacancy allowance, and build their own net income estimate. We will cover exactly how to do that in the coming days. The pro forma figures are projections, not guarantees.
Why this location works
La Habra sits in the northern part of Orange County, close to Fullerton, Brea, and Whittier. The area offers access to schools, retail, parks, and major roads, which supports steady demand from people who want a Southern California address without the price tags of coastal cities. We will go deeper on the neighborhood later in this series.
Why a duplex, and why now
A duplex gives an owner two rent streams under one roof, one roof to maintain, and one property tax bill. For a first-time investor it can be a manageable step up from a single-family rental. For an experienced investor it can be a building block. Owner-occupants can also live in one unit and rent the other, a strategy we will break down in a few days.
This property also sits within a larger opportunity: the chance to acquire three adjacent duplexes, or six units in total. If that is the direction you want to go, 309 & 311 Grace Ave is the natural starting point.
What to expect from this series
Over the next 45 days we will cover:
- The market and neighborhood fundamentals behind La Habra rentals
- The unit layouts and what renters look for
- The financial baseline and the value-add pro forma
- Renovation priorities, financing paths, and tax considerations
- The six-unit portfolio opportunity and a due diligence checklist
Each post is designed to give you something you can use whether or not you end up buying this property.
Take the next step
If you are a local investor, a first-time buyer, or someone looking to expand a portfolio, start with the full investment overview. It gathers the property details in one place so you can run your own numbers.
Next step: Download Full Investment Overview.
This content is for informational purposes only and is not financial, tax, or legal advice. Projected figures are estimates and are not guaranteed. Verify all details independently.