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    11761 Stuart Drive

    Garden Grove, CA 92843
    • $3,200,000
    • STATUS: Active
    • ON SITE: 57 days
    • ID#: OC21039894
    UPDATED: 4 min ago
    $3,200,000
    • 0
      BEDS
    • 0.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,598
      SQFT
    • $372
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1958
    County:

    School Ratings & Info

    Description

    This turn-key 10 unit multifamily investment is located on Stuart Drive in the City of Garden Grove, California. The asset offers 7 - 2 Bed / 1 Bath units and 3 - 1 Bed / 1 Bath units. The building was built in 1958 and significantly remodeled in 2020. The exterior remodel includes: new windows, new garage doors, new garage door beams, new exterior paint and stucco, new interior courtyard concrete and 14ft x 18ft gazebo, new access gate, new exterior lighting, railing updated to code, new stairs, new walkway deck coating, new landscaping, new main hot water heater, and two new washing machines. The interior remodel includes: new cabinets and countertops in all 10 units, new air conditioning units in all 10 units, new security screen doors on all 10 units, new flooring in 6 units, and new interior paint and texture in 5 units. There is an owners utility closet in the courtyard, and all four laundry machines are owned by owner (2 Washers / 2 Dryers). Tenants have garage parking and there is room to add a BBQ and benches under the gazebo in the courtyard. The property is separately metered for gas and electricity. This property is in a nice central Garden Grove location right near major retail, educational, and employment opportunities. The property is conveniently located close to CA-22 Freeway, allowing tenants to connect with the greater California region and beyond.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-07T15:38:58.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
    www.propertycove.com/homes/114952472
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    11761 Stuart Drive Garden Grove, CA 92843

    • Price: $3,200,000
    • Status: Active
    • Updated: 4 min ago
    • ID#: OC21039894
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.28
    Acres
    8,598
    SQFT
    $372
    $/SQFT
    1958
    Built
    Neighborhood:
    699 - Not Defined
    County:
    Orange
    Area:
    699 - Not Defined
    Property Description
    This turn-key 10 unit multifamily investment is located on Stuart Drive in the City of Garden Grove, California. The asset offers 7 - 2 Bed / 1 Bath units and 3 - 1 Bed / 1 Bath units. The building was built in 1958 and significantly remodeled in 2020. The exterior remodel includes: new windows, new garage doors, new garage door beams, new exterior paint and stucco, new interior courtyard concrete and 14ft x 18ft gazebo, new access gate, new exterior lighting, railing updated to code, new stairs, new walkway deck coating, new landscaping, new main hot water heater, and two new washing machines. The interior remodel includes: new cabinets and countertops in all 10 units, new air conditioning units in all 10 units, new security screen doors on all 10 units, new flooring in 6 units, and new interior paint and texture in 5 units. There is an owners utility closet in the courtyard, and all four laundry machines are owned by owner (2 Washers / 2 Dryers). Tenants have garage parking and there is room to add a BBQ and benches under the gazebo in the courtyard. The property is separately metered for gas and electricity. This property is in a nice central Garden Grove location right near major retail, educational, and employment opportunities. The property is conveniently located close to CA-22 Freeway, allowing tenants to connect with the greater California region and beyond.
    Exterior Features

    Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 11 Open Parking Spaces 1 Other Structures Gazebo Parking Features AssignedGarage Parking Total 11 Pool Features None Pool Private YN No Property Attached YN Yes Roof Wood

    Interior Features

    Common Walls 1 Common Wall Cooling Wall/Window Unit(S) Cooling YN Yes Heating Natural GasWall Furnace Heating YN Yes

    Property Features

    Additional Parcels YN No Association Fee 0 Association YN No Cap Rate 4.68 Common Interest None Community Features CurbsGutter(S)Street LightsSuburbanSidewalks Contingency Do Not Disturb Tenants. Drive By Only. Inspection Upon Signed Listing Agreement. Current Financing None Electric Expense 651 Fuel Expense 523 Garage YN Yes Gross Income 219600 Gross Scheduled Income 219600 Insurance Expense 2937 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms Cash To New Loan Maintenance Expense 4628 Net Operating Income 149634 New Construction YN No New Taxes Expense 41239 Number Of Separate Gas Meters 11 Number Of Separate Water Meters 1 Number Of Units Leased 10 Operating Expense 65778 Pest Control Expense 900 Possession Close Of Escrow Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays Cable TvElectricityGasTelephone Total Actual Rent 18300 Trash Expense 3672 Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Vacancy Allowance 6588 Water Sewer Expense 6428 Water Source Public Zoning R3

    Listing provided courtesy of Mark Bridge of Mark Bridge, Broker


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-07T15:38:58.083. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or The Bhagat Group. Licensed in the State of California, USA.
     
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