NOT LISTED FOR SALE

9811 Russell Ave Garden Grove, CA 92844

16 Beds
8 Baths
5,460 Sq Ft
0.53 Acres

Last Sold March 25, 2021

Last sale price $2,500,000 $458 Per Sq Ft

3 Days on Market

Highlights

  • No Units Above
  • 0.53 Acre Lot
  • No HOA
  • Sunnyside Elementary School Rated A
  • Wood Flooring
  • Living Room

About This Home

As of March 2021

Presenting a rare opportunity to acquire an investment property on a very large lot in the city of Garden Grove. It is perfect for an investor looking to acquire a property to maximize its income potential or possible redevelopment. This 8-unit multifamily investment property is located in a diverse and rapidly developing community of Garden Grove in desirable metro Orange County. Situated on more than half acre lot, this 22,974 square foot property consists of 2 buildings (9801 & 9811 Russell) on the same parcel with an enclosed courtyard, 2 bedroom/1 bathroom floor plans, 8 assigned garage parking plus 8 exterior additional spaces, an on-site community coin-operated laundry room and generous sized storage rooms. Each unit is individually metered for gas and electric. Each unit has individual gas water heater. Well maintained and with countless improvements, this property commands pride of ownership. Long-term tenants and 100% occupied. With strong market trends and current rental demand, this property provides investors an opportunity to capitalize on the potential value appreciation. Don’t miss out on a fantastic opportunity to own this unique property! Drive by ONLY, do NOT disturb occupants.

Last Agent to Sell the Property

Susan Kim

Equity Union License #01893432 Listed on: 01/14/2021

Equity Union

Last Buyer's Agent

Raeann Nguyen

Raeann Nguyen, Broker License #01344324

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1957

Lot Details

  • 0.53 Acre Lot
  • No Units Above
  • No Units Located Below
  • Two or More Common Walls
  • Density is 6-10 Units/Acre

Parking

  • 1 Open Parking Space
  • 1 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Property Attached

Interior Spaces

  • 5,460 Sq Ft Home
  • 1-Story Property
  • Living Room
  • Wood Flooring
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 8 Bathrooms

Utilities

  • Wall Furnace

Listing and Financial Details

  • Assessor Parcel Number 09821105

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 8 Units

Amenities

  • Laundry Facilities

Building Details

  • 8 Leased Units
  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • Insurance Expense $2,662
  • Trash Expense $2,497
  • Water Sewer Expense $4,572
  • New Taxes Expense $28,380
  • Operating Expense $46,946
  • Gross Income $11,739
  • Net Operating Income $92,024

Property Details

Home Type

Multi-Family

Year Built

Built in 1957

Lot Details

0

Parking

1

Listing Details

  • CapRate: 3.83
  • Property Attached: Yes
  • Subdivision Name Other: Unknown
  • Water Sewer Expenses: 4572.00
  • Property Type: Residential Income
  • Parcel Number: 09821105
  • Year Built: 1957
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 1
  • Common Walls: 2+ Common Walls, No One Above, No One Below
  • Flooring: Wood
  • Levels: One
  • Price Per Square Foot: 457.88
  • Room Type: Kitchen, Living Room, Main Floor Bedroom

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 1.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 2.00
  • Uncovered Spaces: 1.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 2497.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 6-10 Units/Acre
  • Lot Size Sq Ft: 22974.00
  • Lot Size Acres: 0.5274

Multi Family

  • Gross Income: 11739.00
  • Gross Multiplier: 16.75
  • Gross Scheduled Income: 143265.00
  • Insurance Expense: 2662.00
  • Lot Size Area: 22974.0000 Square Feet
  • Net Operating Income: 92024.00
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Units Leased: 8
  • Number Of Units Total: 8
  • Operating Expense: 46946.00
  • Rent Control: Yes
  • Total Expenses: 46946.00

Tax Info

  • New Taxes Expense: 28380.00

Range of Values:

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Average Value
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List Price
Sold Price
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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
03/25/2021 03/25/21 Sold $2,500,000 +4.2% $458 / Sq Ft
01/17/2021 01/17/21 Pending -- -- --
01/14/2021 01/14/21 For Sale $2,400,000 -- $440 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2021

    Susan Kim

    Equity Union

    (818) 380-5100

    1 in this area

    1 Total Sale

    Susan Kim
    Section Image

  • R

    Buyer's Agent in 2021

    Raeann Nguyen

    Raeann Nguyen, Broker

See All Agents

Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: SR21008508

California Regional Multiple Listing Service (CRMLS)
California Orange County Garden Grove 92844

9811 Russell Ave, Garden Grove, CA

This home is located at 9811 Russell Ave, Garden Grove, CA 92844 since 14 January 2021. This property was built in 1957. 9811 Russell Ave is a home located in Orange County with nearby schools including Sunnyside Elementary School, Donald S. Jordan Intermediate School, and Bolsa Grande High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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