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Active
12562 Shelley Drive Garden Grove, CA 92840
$2,300,000

Property listed by Skyline Commercial Real Estate, Christopher Pettit. IDX Contact: 949-688-6530

Team Member Representing this Property

Chris Pettit

Chris Pettit

Listing Agent

DRE# 01983950

Property Description

Value-add Apartment Opportunity in the heart of Garden Grove. Easy property to manage in central location Garden Grove. An astute investor will take advantage of the upside with a market cap rate of close to 5%. Garden Grove is one of the most stable rental markets in Orange County, providing tenants a central location with surrounding jobs, schools, retail, dining, and entertainment.

Property Details & Features

Property Type

  • Residential Income

Year Built

  • 1960

Property Access

  • Paved

House

  • 2 total stories
  • Built in 1960
  • Stories: 2
  • 5121 total building sqft
  • 1 Common Wall
  • Stucco
  • Two

Community

  • Biking
  • Park
  • Storm Drain(s)
  • Sidewalks

Expenses

  • Electric Expense: $635
  • Fuel Expense: $3,195
  • Insurance Expense: $1,792
  • Maintenance Expense: $4,000
  • Operating Expense: $47,382
  • Other Expense: $3,889
  • Water Sewer Expense: $3,479

Heating

  • Wall Furnace

Income

  • Gross Income: 106500
  • Gross Scheduled Income: 106500
  • Net Operating Income: 55923

Listing

  • Listing ID: OC22110286
  • Listed on 2022-05-25
  • Rent controlled

Location

  • County: Orange
  • Subdivision: Other (OTHR)

Lot

  • 9618 sqft
  • 0.2208 acres
  • Area: 9618
  • 0-1 Unit/Acre

Parking

  • 10 open parking spaces
  • 10 total parking spaces
  • On Site
  • Off Street

Possession

  • Close Of Escrow

Property

  • Single building
  • 8 units
  • Property attached

Roof

  • Composition

Sewer

  • Public Sewer

Taxes

  • New Taxes: $27,252

Tenant Pays

  • Electricity

Utilities

  • Standard
  • 9 separate electric meters

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