13052 Rockinghorse RdGarden Grove, CA 92843

Property Details for 13052 Rockinghorse Rd

Year built

1959

Lot size

0.24 AC

Property size (Sq ft)

4,978 SF

Property type

Apartment buildings

APN

100-501-02

APU

10050102

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in the desirable Garden Grove, California market. Boasting a 100% occupancy rate and a strong 5.34% cap rate based on a Net Operating Income (NOI) of $138,834, this property offers immediate cash flow. The property, situated on a 10,506 sq ft lot, comprises a single, two-story building totaling 4,978 net rentable square feet. Built in 1959 and extensively renovated in 2021, the property features eight one-bedroom units, each equipped with air conditioning and a private garage. The comprehensive renovation included new kitchens, bathrooms, flooring (vinyl plank), a new roof, fascia, paint, stucco, vinyl windows, entry doors, garage doors, exterior lighting, and new concrete throughout. A renovated laundry room with two owner-owned washers and dryers adds further value. A RUBs (renters utility billing) program is in place, contributing to lower operating expenses. The asking price is $2,599,000, translating to $324,875 per unit. The property is sold as-is

• CAP approach

  CAP return

  Valuation

  6%

  $1,601,430

  6.5%

  $1,478,240

  7%

  $1,372,650

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,131,010

  Geo Method

  $1,131,010

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,292,140

  Retail / Commercial

  $1,196,870

  Mixed-Use / Specialty

  $1,209,510

  Hospitality / Lodging

  $909,407

  Office

  $1,219,950

  Institutional / Educational

  $1,263,450

  Multifamily

  $1,679,140

  Automotive / Energy

  $1,082,960

  Parking / Income-Based Land

  $357,003

  Restaurant / Food Service

  $665,181

  Healthcare / Senior Housing

  $1,222,990

Location Insight

City

Garden Grove

County

Orange

State

California

Latitude

33.7736

Longitude

-117.924

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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