12905 Palm Street, Garden Grove, CA 92840

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Sheila Dadashzadeh

[email protected] +1(858) 375-6785

$3,250,000

Est. payment - /mo

4 Beds

4 Baths

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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

Property Sub-Type Res Income 2-4 Units

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 5.78% as well as a GRM of 11.37 and future upside with a pro forma CAP Rate of 7.15% and GRM of 9.77. 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

Location

State CA

County Orange

Zoning Public Rec

Direction North of Garden Grove Blvd. On the Corner of Palm St and El Rey Pl

Interior

Fireplace No

Exterior

Utilities Available Sewer Connected

View Y/N No

Building

Story 2

Level or Stories 2

Others

Tax ID 23142302

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

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Sheila Dadashzadeh

+1(858) 375-6785

Agent | CA BRE #01835591

Agent CA BRE #01835591

San Diego Communities

12905 Palm Street Garden Grove, CA 92840

Sheila Dadashzadeh

Key Details

Location

Interior

Exterior

Building

Others

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