Offered For Sale

12905 Palm Street

#SB25122939

MLF

Built in 1959

$3,300,000

About the property

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.

Features

General

  • Half Bathrooms 0
  • Real Estate Sub Type Apartment
  • Real Estate Type MLF
  • Square Feet 7,387
  • Stories 2
  • Year Built 1,959
  • Agent Name Keaton Quaack
  • Broker Id SB1310620
  • Office Name Lyon Stahl Investment Real Estate
    Inc.
  • Days On Market 0
  • Status Active
  • Agent Cell 562-743-8204

Building

  • Construction Concrete
    Drywall Walls
    Stucco
  • Exterior Features Biking
    Curbs
    Dog Park
    Golf
    Gutters
    Park
    Sidewalks
    Street Lights
    Suburban
  • Flooring Laminate
    Tile
    Wood
  • Interior Features Granite Counters
    Laminate Counters
  • Roof Flat

Location

  • View Courtyard
    Hills
    Neighborhood

Location

Questions

Human check: how many dogs are below?

 

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