NOT LISTED FOR SALE

10761 Palma Vista Ave Garden Grove, CA 92840

1 Bed
1 Bath
3,786 Sq Ft
10,019 Sq Ft Lot

Last Sold August 02, 2023

Last sale price $1,440,000 $380 Per Sq Ft

170 Days on Market

Highlights

  • No HOA
  • Cooling System Mounted To A Wall/Window
  • 6 Detached Carport Spaces
  • Lake Intermediate School Rated A-
  • Laundry Room
  • Heating System Uses Natural Gas

About This Home

As of August 2023

10761 Palma Vista Ave is in the desirable City of Garden Grove, California. Built in 1961, this garden-style two-story walkup consists of all one-bed one-bath units averaging over 630 square feet per unit. The building has a pitched shingle roof, separate electric meters, and an on-site laundry room for tenant convenience. Units have wall air conditioning, security screen doors, and covered parking. The grounds are also nicely landscaped.

The property is in Northeast Garden Grove next to Disneyland Park, Disney California Adventure Park, Anaheim Convention Center, Angel Stadium, Honda Center, Loara High School, and The Promenade Shopping Center. This puts the property near major retail, educational, and employment opportunities. It is walking distance to CVS, Food 4 Less, Lake Intermediate School, Stoddard Elementary School, Simmons Elementary School, and Anaheim Urgent Care. The property is also conveniently located Near CA-5 & CA-22, allowing residents to easily access the Southern California region.

Last Agent to Sell the Property

Mark Bridge

Mark Bridge, Broker License #01316702 Listed on: 12/19/2022

Last Buyer's Agent

Daniel Blackwell

CB Richard Ellis, Inc. License #01854961

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • 10,019 Sq Ft Lot
  • 1 Common Wall
  • Density is 6-10 Units/Acre

Home Design

  • Apartment
  • Shingle Roof
  • Stucco

Interior Spaces

  • 3,786 Sq Ft Home
  • 2-Story Property
  • Window Screens

Kitchen

  • Gas Oven
  • Gas Range

Bedrooms and Bathrooms

  • 1 Bedroom
  • 1 Bathroom

Laundry

  • Laundry Room
  • Leased Washer and Dryer

Parking

  • 3 Open Parking Spaces
  • 9 Parking Spaces
  • 6 Detached Carport Spaces
  • Parking Available

Outdoor Features

  • Exterior Lighting
  • Rain Gutters

Location

  • Suburban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas
  • Natural Gas Connected
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 18
  • Tax Tract Number 3730
  • Assessor Parcel Number 08965104
  • $1,652 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 6 Units

Amenities

  • Laundry Facilities

Building Details

  • 6 Leased Units
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $520
  • Fuel Expense $480
  • Gardener Expense $1,200
  • Insurance Expense $2,400
  • Maintenance Expense $3,000
  • Other Expense $1,670
  • Pest Control $600
  • Trash Expense $2,100
  • Water Sewer Expense $3,290
  • New Taxes Expense $17,252
  • Operating Expense $33,149
  • Gross Income $102,000
  • Net Operating Income $66,859

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • CapRate: 4.41
  • Price Per Unit: 252500
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Subdivision Name Other: Not available
  • Water Sewer Expenses: 3290.00
  • Zoning: R3
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 1200.00
  • Parcel Number: 08965104
  • Year Built: 1961
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 1 Common Wall
  • Appliances: Yes
  • Levels: Two
  • Price Per Square Foot: 380.35
  • Window Features: Screens

Exterior Features

  • Fence: No
  • Pool Private: No
  • Roof: Shingle
  • Spa: No
  • Construction Materials: Stucco

Garage/Parking

  • Carport Spaces: 6.00
  • Parking: Yes
  • Parking Features: Detached Carport, Covered
  • Total Parking Spaces: 9.00
  • Uncovered Spaces: 3.00

Utilities

  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Heating: Yes
  • Laundry: Yes
  • Appliances: Gas Oven, Gas Range
  • Heating Type: Natural Gas
  • Laundry Features: Community
  • Pest Control Expense: 600.00
  • Sewer: Public Sewer
  • Trash Expense: 2100.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 10019.00
  • Lot Size Acres: 0.2300

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Average1 Bed Area: 631 Square Feet
  • Electric Expense: 520.00
  • Fuel Expense: 480.00
  • Gross Income: 102000.00
  • Gross Multiplier: 15.00
  • Gross Operating Income: 100008.00
  • Gross Scheduled Income: 102000.00
  • Gross Spendable Income: 66859.00
  • Insurance Expense: 2400.00
  • Laundry Equipment Own Lease: Lease
  • Laundry Income: 2400.00
  • Lot Size Area: 10019.0000 Square Feet
  • Maintenance Expense: 3000.00
  • Net Operating Income: 66859.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Number Wall A C: 6
  • Number With Disposal: 6
  • Number With Range: 6
  • Operating Expense: 33149.00
  • Other Expense: 1670.00
  • Rent Control: No
  • Total Actual Rent: 96000.00
  • Total Expenses: 33149.00
  • Vacancy Allowance: 1992
  • Vacancy Allowance Rate: 2.00

Tax Info

  • New Taxes Expense: 17252.00
  • Tax Census Tract: 883.01
  • Tax Lot: 18
  • Tax Tract Number: 3730
  • TaxOtherAnnualAssessmentAmount: 1652.00

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/02/2023 08/02/23 Sold $1,440,000 -5.0% $380 / Sq Ft
06/07/2023 06/07/23 Pending -- -- --
04/19/2023 04/19/23 Price Changed $1,515,000 -2.3% $400 / Sq Ft
01/27/2023 01/27/23 Price Changed $1,550,000 -0.6% $409 / Sq Ft
12/19/2022 12/19/22 For Sale $1,560,000 -- $412 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: OC22254383

California Regional Multiple Listing Service (CRMLS)