12905 Palm Street, Garden Grove, CA 92840
  • MLS#: SB25122939 ( Apartment )
  • Street Address: 12905 Palm Street
  • Viewed: 1
  • Price: $3,300,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1959
  • Bldg sqft: 0
  • Days On Market: 5
  • Additional Information
  • County: ORANGE
  • City: Garden Grove
  • Zipcode: 92840
  • Provided by: Lyon Stahl Investment Real Estate, Inc.
  • Contact: Keaton Keaton
  • California Regional MLS IDX
  • DMCA Notice
  • 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 stability are two of the main drivers in investment real estate.
Property Location and Similar Properties
Request More Information
  • All fields are required.
Contact Patrick Adams
Contacting Patrick Adams
  • All fields are required.
Schedule A Showing
Schedule a Showing.
  • All fields are required.
Check this box to Register with us:
Features
Additional Parcels Description
  1. 231-423-16
Appliances
  1. 6 Burner Stove
  2. Freezer
  3. Gas Oven
  4. Refrigerator
Assessments
  1. Buyer to Verify
Building Area Total
  1. 7387.00
Carport Spaces
  1. 8.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 1 Common Wall
Construction Materials
  1. Concrete
  2. Drywall Walls
  3. Stucco
Country
  1. US
Electric Expense
  1. 0.00
Entry Location
  1. Ground
Fencing
  1. Block
Fireplace Features
  1. None
Flooring
  1. Laminate
  2. Tile
  3. Wood
Fuel Expense
  1. 0.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 1440.00
Insurance Expense
  1. 9603.00
Interior Features
  1. Granite Counters
  2. Laminate Counters
Laundry Features
  1. Common Area
Laundry Income
  1. 3996.00
Levels
  1. Two
Lot Features
  1. Lawn
  2. Level with Street
  3. Lot 10000-19999 Sqft
  4. Rectangular Lot
  5. Paved
  6. Sprinkler System
Netoperatingincome
  1. 184894.00
Newtaxesexpense
  1. 41250.00
Number Of Separate Electric Meters
  1. 12
Number Of Separate Gas Meters
  1. 12
Parcel Number
  1. 23142302
Parking Features
  1. Assigned
  2. Carport
  3. Detached Carport
  4. Covered
  5. Driveway
  6. Paved
  7. Driveway Level
  8. Off Street
  9. On Site
  10. Parking Space
  11. Private
  12. Side by Side
Pool Features
  1. None
Postalcodeplus4
  1. 6410
Professionalmanagementexpense
  1. 13965.00
Property Type
  1. Apartment
Road Frontage Type
  1. City Street
Road Surface Type
  1. Paved
Roof
  1. Flat
Sewer
  1. Sewer Paid
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 439999961:CRM
Spa Features
  1. None
Tenant Pays
  1. Electricity
  2. Gas
Totalexpenses
  1. 84237.00
Trash Expense
  1. 4800.00
Uncovered Spaces
  1. 6.00
Utilities
  1. Electricity Connected
  2. Natural Gas Connected
  3. Sewer Connected
  4. Water Connected
View
  1. Courtyard
  2. Hills
  3. Neighborhood
Water Sewer Expense
  1. 4800.00
Water Source
  1. Public
Year Built
  1. 1959
Year Built Source
  1. Public Records