10,223 Sqft Lot
10,223 Sqft Lot
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26119486
HOA Y/N No
Year Built 1977
Lot Size 10,223 Sqft
Property Sub-Type Apartment
Property Description
Built in 1977, this property has been well maintained and thoughtfully improved over time. Recent capital improvements include a new roof installed over the rear building in 2024, a new water heater installed in 2025 and new electric panels installed in all units and the laundry room to satisfy insurance in 2025. The property currently generates gross annual income of $148,380. With desirable and diverse unit mix consisting of two 1-bedroom/1-bath units, two 2-bedroom/2-bath units, and one spacious 3-bedroom/2.5-bath townhouse style residence all demands can be met.
Unit layouts are designed to maximize resident comfort and retention. The townhouse-style unit features private front and side yards, a rear patio and two side-by-side garages with automatic openers. Remaining residences each benefit from a dedicated one-car garage with an automatic opener, while two additional garages are currently leased for storage, providing supplemental income. The downstairs 1 bedrooms have private yards and patios while the 2 bedroom units have private balconies. Private outdoor areas, garages with openers, and a functional unit mix contribute to strong rental appeal.
Ideally situated just over half a mile from Beach Boulevard, this property offers convenient access to a wide variety of shopping, dining, and entertainment options, as well as the 405 and 22 Freeways. Its location places residents within close proximity to major employment centers throughout Orange County, supporting continued demand for quality rental housing.
From an operational standpoint, this asset benefits from a straightforward expense structure. Current operating expenses consist primarily of utilities, property taxes, insurance, landscaping, and professional management. Combined with excellent physical condition, an attractive residential setting, and a stable income stream, the property represents a turnkey investment opportunity well-suited for both private and exchange buyers seeking reliable cash flow in a high-demand Orange County rental market.
Location
State CA
County Orange
Area 63 - Garden Grove S Of Chapman, W Of Euclid
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Door-Single, Garage, Garage Door Opener, One Space
Garage Spaces 8.0
Garage Description 8.0
Pool None
Community Features Biking, Sidewalks
Total Parking Spaces 8
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 21510210
Energy Description 3124.0
Acceptable Financing Cash, Cash to New Loan, Conventional, Fannie Mae, Freddie Mac, Submit
Listing Terms Cash, Cash to New Loan, Conventional, Fannie Mae, Freddie Mac, Submit
Special Listing Condition Standard
Nearby Locations
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