12905 Palm St Garden Grove, CA 92840
Estimated payment $21,824/month
Total Views
514
10
Beds
10
Baths
7,387
Sq Ft
$447
Price per Sq Ft
Highlights
- Popular Property
- Golf Course Community
- Wood Flooring
- Earl Warren Elementary School Rated A-
- View of Hills
- Granite Countertops
About This Home
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.
Last Listed By
Lyon Stahl Investment Real Estate, Inc. Brokerage Phone: 562-743-8204 License #02172607 Listed on: 06/02/2025
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1959
Lot Details
- 0.34 Acre Lot
- 1 Common Wall
- Block Wall Fence
- Rectangular Lot
- Paved or Partially Paved Lot
- Level Lot
- Sprinkler System
- Lawn
- 231-423-16
Property Views
- Hills
- Neighborhood
- Courtyard
Home Design
- Apartment
- Flat Roof Shape
- Fire Rated Drywall
- Pre-Cast Concrete Construction
- Stucco
Interior Spaces
- 7,387 Sq Ft Home
- 2-Story Property
- Entryway
- Laundry Room
Kitchen
- Gas Oven
- Six Burner Stove
- Freezer
- Granite Countertops
- Laminate Countertops
Flooring
- Wood
- Laminate
- Tile
Bedrooms and Bathrooms
- 10 Bedrooms
- 10 Bathrooms
Parking
- 6 Open Parking Spaces
- 14 Parking Spaces
- 8 Detached Carport Spaces
- Parking Available
- Side by Side Parking
- Driveway Level
- Paved Parking
- Parking Lot
- Off-Street Parking
- Assigned Parking
Outdoor Features
- Exterior Lighting
- Rain Gutters
Location
- Suburban Location
Utilities
- Natural Gas Connected
- Sewer Paid
Listing and Financial Details
- Tax Lot 2
- Tax Tract Number 1932
- Assessor Parcel Number 23142302
- $3,525 per year additional tax assessments
Community Details
Recreation
- Golf Course Community
- Park
- Dog Park
- Bike Trail
Building Details
- 12 Leased Units
- 12 Separate Electric Meters
- 12 Separate Gas Meters
- 1 Separate Water Meter
- Gardener Expense $1,440
- Insurance Expense $9,603
- Maintenance Expense $8,379
- Professional Management Expense $13,965
- Trash Expense $4,800
- Water Sewer Expense $4,800
- New Taxes Expense $41,250
- Operating Expense $84,237
- Gross Income $279,300
- Net Operating Income $184,894
Additional Features
- 12 Units
- Laundry Facilities
Map
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/02/2025 06/02/25 | For Sale | $3,300,000 | -- | $447 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Similar Home in Garden Grove, CA
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SB25122939
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