The victim was approached by four men as he returned home around 9 p.m. Tuesday on Channing Lane, officials said.
One of the robbers was armed with a gun and demanded cash from the homeowner. Unconfirmed reports say the victim was robbed of up to $25,000.
The suspects, who officials said were wearing hoods and baseball caps, fled the scene with the money and the victim's phone in what was believed to be a red four-door car.
The victim was not hurt in the crime.
Anyone with information on the suspects or the robbery was urged to contact the Orange County Sheriff's Department.