10772 Palma Vista AveGarden Grove, CA 92840
- Residential income properties
- 4,864 SF
Property Details for 10772 Palma Vista Ave
- Year built
- 1961
- Lot size
- 0.21 AC
- Property size (Sq ft)
- 4,864 SF
- Property type
- Residential income properties
- Property subtype
- Other apartment buildings
- APN
- 089-652-01
- APU
- 8965201
Description
This exceptional 8-unit apartment building in Garden Grove, California presents a compelling investment opportunity. Located at 10772 Palma Vista Avenue, this two-story, 1961-built property boasts a current NOI of $121,303 and a compelling 5.27% cap rate, the highest currently listed in Garden Grove. A pro-forma NOI of $129,693 projects a 5.64% cap rate. The asking price is $2,300,000, or $287,500 per unit. The property benefits from a significant portion of units having been recently renovated, eliminating immediate capital expenditure needs. A RUBS system (renters pay utilities) reduces landlord expenses, with individual electric meters and tenants responsible for water and trash. This turnkey acquisition is ideally situated near major freeways (CA-22 and CA-5), key thoroughfares (Katella Avenue and Euclid Street), and numerous restaurants and employment centers. Its prime location in Garden Grove also provides proximity to Orange County's renowned tourist attractions, including Disneyland and the Anaheim Convention Center, ensuring a strong rental market. This is a rare opportunity to acquire a high-yielding, well-maintained multifamily property in a desirable location.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,412,884
- 6.5%
- $1,304,200
- 7%
- $1,211,043
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,464,037
- Geo Method
- $1,464,037
-
Alternative Use
- Use
- Valuation
- Residential
- $1,304,200
- Hospitality
- $1,194,641
- Educational
- $993,927
- Medical
- $1,028,110
- Retail
- $1,546,109
Location Insight
- City
- Garden Grove
- County
- Orange
- State
- California
- Latitude
- 33.7997
- Longitude
- -117.945
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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