12905 Palm Street Active Save Request In-Person Tour Request Virtual Tour
Garden Grove,CA 92840
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 7,387 sqft
Price per Sqft $446
MLS Listing ID CRSB25122939
HOA Y/N No
Year Built 1959
Lot Size 0.337 Acres
Property Sub-Type Other
Source Datashare California Regional
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 an
Location
State CA
County Orange
Interior
Flooring Laminate,Tile,Wood
Fireplace No
Laundry Other
Exterior
View Hills,Other
Building
Lot Description Level,Other,Paved