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Nicole Van Parys & Gary Nesen

Engel & Völkers Americas

nicole.vanparys@engelvoelkers.com +1(805) 795-1880

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

$ 3,300,000

Est. payment -/mo

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Active

12905 Palm Street Garden Grove, CA 92840

7,387 SqFt

UPDATED:

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

Nicole Van Parys & Gary Nesen

License Partners, Private Office Advisors | License ID: 01108944

+1(805) 795-1880

Nicole Van Parys & Gary Nesen

12905 Palm Street Garden Grove, CA 92840

Key Details

Location

Interior

Exterior

Building

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12905 Palm Street