12905 Palm Street, Garden Grove, CA 92840

REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Sun

Jun

Mon

Jun

Tue

Jul

Glen Henderson

[email protected] +1(619) 889-7646

$3,300,000

Est. payment - /mo

4 Beds

4 Baths

0.34 Acres Lot

Save

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25122939

Bedrooms 4

HOA Y/N No

Lot Size 0.337 Acres

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional,Exchange,Land Contract

Property Description

We are pleased to exclusively offer for sale this 12 Unit Multi-Family investment located in the strong rental market of Garden Grove. This offering is comprised of (2) adjacent parcels totaling 14,693 square feet positioned next to both the 22 and 5 freeways providing access to the entirety of Orange County and the entertainment and employment opportunities therein. In addition to the buildings excellent location, it has an outstanding unit mix consisting of (12) 1 Bed/1 Bath units. Further, the property been meticulously taken care of with many of the major electric and plumbing systems upgraded. Furthermore, the property offers ample parking with multiple carport and designated spaces. As it stands, the offering presents strong day one income with a current CAP Rate of 5.60% as well as a GRM of 11.65 and future upside with a pro forma CAP Rate of 7.03% and GRM of 9.92. Along these lines, the property features onsite washers and dryers bringing in extra $333 a month providing investors with a healthy stream of additional cash flow subject to occupancy. Investors also have the unique opportunity to capitalize on the adjacent lots to build ADUs and generate additional income upon acquisition. All in all, the buildings close proximity to Orange Countys top destinations and major employment hubs including Disneyland, the Anaheim Convention Center, Angel Stadium, and the Honda Center further drives future rental demand. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic
We are pleased to exclusively offer for sale this 12 Unit Multi-Family investment located in the strong rental market of Garden Grove. This offering is comprised of (2) adjacent parcels totaling 14,693 square feet positioned next to both the 22 and 5 freeways providing access to the entirety of Orange County and the entertainment and employment opportunities therein. In addition to the buildings excellent location, it has an outstanding unit mix consisting of (12) 1 Bed/1 Bath units. Further, the property been meticulously taken care of with many of the major electric and plumbing systems upgraded. Furthermore, the property offers ample parking with multiple carport and designated spaces. As it stands, the offering presents strong day one income with a current CAP Rate of 5.60% as well as a GRM of 11.65 and future upside with a pro forma CAP Rate of 7.03% and GRM of 9.92. Along these lines, the property features onsite washers and dryers bringing in extra $333 a month providing investors with a healthy stream of additional cash flow subject to occupancy. Investors also have the unique opportunity to capitalize on the adjacent lots to build ADUs and generate additional income upon acquisition. All in all, the buildings close proximity to Orange Countys top destinations and major employment hubs including Disneyland, the Anaheim Convention Center, Angel Stadium, and the Honda Center further drives future rental demand. This provides much optimism for continued rent growth and appreciation within the submarket in both the near and distant future, as housing demand and economic stability are two of the main drivers in investment real estate.

Location

State CA

County Orange

Area Oc - Garden Grove (92840)

Zoning Public Rec

Exterior

Exterior Feature Stucco

Parking Features Unit1:Assigned

Building

Lot Description Curbs, Sidewalks

Story 2

Sewer Sewer Connected

Level or Stories 2 Story

Others

Monthly Total Fees $293

Acceptable Financing Cash, Conventional, Exchange, Land Contract

Space Rent $2,000

Listing Terms Cash, Conventional, Exchange, Land Contract

CFD/Mello-Roos Fee $3, 525

Read Less Info

Listed by Keaton Quaack • Lyon Stahl Investment Real Estate, Inc.

Get More Information

Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

12905 Palm Street Garden Grove, CA 92840

Glen Henderson

Key Details

Location

Exterior

Building

Others

Get More Information