Two-Story 16-Unit
For Sale
Contact for pricing
10791 Palma Vista, Garden Grove, CA 92840
Two contiguous 8-unit, two-story buildings offer separately metered gas and electricity plus on-site coin-operated laundry.
Property Size10,048 SF
Lot Size0.44 Acres
Price / SF$397.59
Days on Market88
Property Features for 10791 Palma Vista
General Information
Standard status
Active
Size
10,048 SF
Total Parking Spaces
24
Lot size
0.44 Acres
Property subtype
Multifamily
Zoning
Assessor
Additional Details
Highway Access
Yes
Multifamily Units
16
Building Details
Year Built
1961
Buildings
2
Stories
2
Units
16
Tenancy
Multi
Listing Agency:
Pacific Avenue Realty
Listed By:
Prashant Sampat · License #01916221
(562) 841-0227
Source:
Crexi
Added: Jun 10
Changed: Aug 24
Last Checked: Sep 1 at 9:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pacific Avenue Realty
Investment Insights
Based on property information with market context.
A rare 16-unit multifamily offering comprised of two adjacent, contiguous two-story buildings. The property includes eight units in each building, for a total of 16 one-bedroom, one-bath residences. The buildings are wood-frame and stucco, constructed in 1961, and each unit is separately metered for gas and electricity. On-site coin-operated laundry is provided, and the property offers 24 parking spaces, including 16 covered carports and 8 uncovered spaces.
The two parcels are sold together as a single package, and the buildings sit just west of Euclid between Katella and Orangewood, minutes from the 5 and 22 freeways, Disneyland, and the Garden Walk district.
Both parcels must be purchased together and are not available separately. The seller notes in-place rents are below current market and highlights income and utility-cost recovery opportunities; buyers should verify all information, including unit details, square footage, rents, and operating figures, to their own satisfaction.
The two parcels are sold together as a single package, and the buildings sit just west of Euclid between Katella and Orangewood, minutes from the 5 and 22 freeways, Disneyland, and the Garden Walk district.
Both parcels must be purchased together and are not available separately. The seller notes in-place rents are below current market and highlights income and utility-cost recovery opportunities; buyers should verify all information, including unit details, square footage, rents, and operating figures, to their own satisfaction.
Key Highlights
- 16‑unit multifamily made up of two contiguous 8‑unit, two‑story buildings at 10791 & 10811 Palma Vista Ave
- Built in 1961; wood‑frame and stucco buildings with ~10,048 SF total building area across both parcels
- 1 bed / 1 bath units averaging approx. 625 SF (buyer to verify)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$150,407
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,008,140
$3.0M
Cap Rate 7%
$2,148,671
$2.1M
Cap Rate 9%
$1,671,189
$1.7M
Market Conditions
NOI Build-Up for 10,048 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$289.4K $28.80/SF
− Vacancy
−$15.9K −$1.58/SF
EGI
$273.5K $27.22/SF
− OpEx
−$123.1K −$12.25/SF
NOI
$150.4K $14.97/SF
Area
Garden Grove, CA
Vacancy
5.50%
Lease Rate
$28.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,008,140
Cap Rate 7%
$2,148,671
Cap Rate 9%
$1,671,189
Alternative Uses
Best Use
Apartment 5plus
$2.15M
$1.88M – $2.51M
NOI $150,407 @ 7.0% cap · market cap 3.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.14M
$2.75M – $3.67M
NOI $220,124 @ 7.0% cap · market cap 5.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
16
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
792
Businesses Nearby
Explore this area
Business Placement
Demographics for 92840, CA
54,365
Population
16,662
Households
3.3
Avg Household Size
39
Median Age
29%
College-Educated
77%
High-School Grad
5.1 sq mi
ZIP Area
10,660
Density / Sq Mi
$96,555
Median Household Income
$41,859
Median Earnings
$1,955
Median Rent
$746,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two contiguous 8-unit, two-story buildings offer separately metered gas and electricity plus on-site coin-operated laundry.
Where is this apartment building located?
The property is located at 10791 Palma Vista Garden Grove, CA.
What is the asking price?
The asking price for this property is $3,995,000.
What are key features of this property?
This property features: 16‑unit multifamily made up of two contiguous 8‑unit, two‑story buildings at 10791 & 10811 Palma Vista Ave; Built in 1961; wood‑frame and stucco buildings with ~10,048 SF total building area across both parcels; 1 bed / 1 bath units averaging approx. 625 SF (buyer to verify)
