12905 Palm Street Active Save Request In-Person Tour Request Virtual Tour
Garden Grove,CA 92840
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 7,387 sqft
Price per Sqft $446
MLS Listing ID SB-25122939
Year Built 1959
Lot Size 0.337 Acres
Property Sub-Type Apartment
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 building's 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 building's close proximity to Orange County's 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
Interior
Interior Features Granite Counters,Laminate Counters
Flooring Laminate,Tile,Wood
Fireplaces Type None
Laundry Common Area
Exterior
Parking Features Driveway Level,Off Street,On Site,Parking Space,Paved,Private,Side by Side,Assigned,Carport,Covered,Detached Carport,Driveway
Pool None
Community Features Biking,Curbs,Dog Park,Golf,Gutters,Park,Sidewalks,Street Lights,Suburban
Utilities Available Sewer Connected,Water Connected,Electricity Connected,Natural Gas Connected
View Y/N Yes
View Hills,Courtyard
Building
Lot Description Lawn,Level with Street,Lot 10000-19999 Sqft,Paved,Rectangular Lot,Sprinkler System
Sewer Sewer Paid