9602 Alwood AveGarden Grove, CA 92841

This exceptional investment opportunity presents a well-maintained 16-unit apartment building in Garden Grove, California. Comprising two adjacent buildings, each with eight units, this property offers a total of 12,234 square feet situated on a 20,101 square foot lot. Built in 1958, the property benefits from recently upgraded plumbing. The current rental income yields a 4.9% cap rate, with significant upside potential. Market analysis suggests a 30% increase in rental rates is achievable, significantly boosting cash flow and equity. The property's prime location near the 22 Freeway ensures strong tenant demand and consistent occupancy. This presents a compelling opportunity for investors seeking to capitalize on a high-growth market with a proven track record. The open layouts of the units are attractive to renters, and the two-building configuration offers operational efficiencies. The property's address is 9602 and 9612 Alwood Ave, Garden Grove, CA 92841, in Orange County. This is a turnkey investment ready for immediate income generation and future appreciation. The asking price for this multifamily property is $4,800,000.