Garden Grove Multifamily
For Sale
Contact for pricing
Pending
10932 Palma Vista Ave, Garden Grove, CA 92840
Multifamily complex in central Orange County with income upside.
Property Size7,576 SF
Days on Market316
Property Features for 10932 Palma Vista Ave
General Information
Standard status
Pending
Size
7,576 SF
Property subtype
Multifamily
Occupancy
100%
Net Operating Income
$172,888
Building Details
Year Built
1961
Buildings
2
Stories
2
Units
12
Listing Agency:
Stream Realty Partners Greater L.A.
Listed By:
Pat Swanson · License #CA 01382974
Source:
Crexi
Added: Oct 1, 2025
Changed: Aug 10
Last Checked: Aug 11 at 6:32PM
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 Stream Realty Partners Greater L.A.
Investment Insights
Based on property information with market context.
This multifamily complex is located in central Orange County and comprises two separate parcels. The property features twelve large one-bedroom, one-bath units. An extra room in the back of the property offers potential for additional dwelling units (ADUs). The property offers a potential income upside of 20% or more. The property has assumable financing at 3.75% until February 2029. The property size is 7,576 square feet.
Key Highlights
- 3.75% Assumable Financing until Feb 2029**
- 20%+ Upside in Income**
- Two Separate Parcels
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
$113,404
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
3.55%
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%
$2,268,080
$2.3M
Cap Rate 7%
$1,620,057
$1.6M
Cap Rate 9%
$1,260,044
$1.3M
Market Conditions
NOI Build-Up for 7,576 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
$218.2K $28.80/SF
− Vacancy
−$12.0K −$1.58/SF
EGI
$206.2K $27.22/SF
− OpEx
−$92.8K −$12.25/SF
NOI
$113.4K $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%
$2,268,080
Cap Rate 7%
$1,620,057
Cap Rate 9%
$1,260,044
Alternative Uses
Best Use
Apartment 5plus
$1.62M
$1.42M – $1.89M
NOI $113,404 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.37M
$2.07M – $2.77M
NOI $165,969 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
784
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 - Multifamily complex in central Orange County with income upside.
Where is this apartment building located?
The property is located at 10932 Palma Vista Ave Garden Grove, CA.
What is the asking price?
The asking price for this property is $3,195,000.
What are key features of this property?
This property features: 3.75% Assumable Financing until Feb 2029**; 20%+ Upside in Income**; Two Separate Parcels
