CA > Garden Grove
Garden Grove, CA 92840,12905 Palm ST
Garden Grove, CA 92840,12905 Palm ST
Garden Grove, CA 92840,12905 Palm ST
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$3,250,000
Est. payment /mo
0.34 Acres Lot
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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25122939

HOA Y/N No

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 5.78% 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 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

Area 699 - Not Defined

Interior

Interior Features Granite Counters, Laminate Counters

Flooring Laminate, Tile, Wood

Fireplaces Type None

Fireplace No

Appliance 6 Burner Stove, Freezer, Gas Oven, Refrigerator

Laundry Common Area

Exterior

Parking Features Assigned, Covered, Carport, Detached Carport, Driveway Level, Driveway, On Site, Off Street, Paved, Private, One Space, Side By Side

Carport Spaces 8

Fence Block

Pool None

Community Features Biking, Curbs, Dog Park, Golf, Gutter(s), Park, Street Lights, Suburban, Sidewalks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

View Y/N Yes

View Courtyard, Hills, Neighborhood

Roof Type Flat

Total Parking Spaces 14

Private Pool No

Building

Lot Description Lawn, Paved, Rectangular Lot, Sprinkler System, Street Level

Story 2

Entry Level Two

Sewer Sewer Tap Paid

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 23142302

Acceptable Financing Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange

Listing Terms Cash, Cash to New Loan, Conventional, Contract, 1031 Exchange

Special Listing Condition Standard

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CRMLS – RECore
Listed by Keaton Quaack Lyon Stahl Investment Real Estate, Inc. 562-743-8204

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