Garden Grove Four-Unit Multifamily
For Sale
$1,930,000
13391 Palm St, Garden Grove, CA 92843
Rare opportunity for investors or owner-occupants in Garden Grove.
Property Size4,492 SF
Lot Size0.18 Acres
Days on Market154
Property Features for 13391 Palm St
General Information
Standard status
Active
Size
4,492 SF
Lot size
0.18 Acres
Property subtype
Investment
Building Details
Building Size
4,492 SF
Year Built
1963
Stories
1
Units
4
Listing Agency:
JJST Corp dba A+ Realty and Mortgage
(661) 364-5379
Listed By:
Mark Parubrub · License #01985365
(661) 364-5379
Source:
Elliman
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 24 at 6:08AM
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 JJST Corp dba A+ Realty and Mortgage
Investment Insights
Based on property information with market context.
This four-unit multifamily property in Garden Grove presents a unique opportunity for investors or owner-occupants. One of the units will be delivered vacant at closing, offering flexibility for an owner-occupant seeking to benefit from owning an income property. The front unit, distinct from the others, features a fireplace, a spacious single-level floor plan, two bedrooms, two bathrooms, a private back patio, and a wraparound gated front patio space. The two middle units are two stories with two bedrooms and one and a half bathrooms, featuring an open floor plan and both a private back patio and a front patio. The end unit, similar to the middle units, benefits from being an end unit with direct access to the garage from inside the unit. Each unit includes two parking spaces, one covered and one uncovered. The property is well-maintained, with low operating expenses, and has been recently repiped. It is located in the heart of Orange County, with quick access to the freeway and proximity to Orange County's destinations.
Key Highlights
- Vacant Front Unit: Ideal for owner‑occupancy with potential for lower down payment and better financing terms while generating rental income from other units.
- Four Unique Units: Offers flexibility for various investment strategies and tenant needs.
- Well‑Maintained Property: Long‑term tenants and recent repiping ensure low operating expenses and peace of mind.
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
$75,103
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
3.89%
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%
$1,502,060
$1.5M
Cap Rate 7%
$1,072,900
$1.1M
Cap Rate 9%
$834,478
$834.5K
Market Conditions
NOI Build-Up for 4,492 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
$113.2K $25.20/SF
− Vacancy
−$5.9K −$1.32/SF
EGI
$107.3K $23.88/SF
− OpEx
−$32.2K −$7.17/SF
NOI
$75.1K $16.72/SF
Area
Garden Grove, CA
Vacancy
5.22%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,502,060
Cap Rate 7%
$1,072,900
Cap Rate 9%
$834,478
Alternative Uses
Best Use
Multifamily LT 5
$1.07M
$938.8K – $1.25M
NOI $75,103 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$960.6K
$840.5K – $1.12M
NOI $67,240 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.41M
$1.23M – $1.64M
NOI $98,407 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,838
Businesses Nearby
Explore this area
Business Placement
Demographics for 92843, CA
45,480
Population
12,051
Households
3.8
Avg Household Size
38
Median Age
18%
College-Educated
69%
High-School Grad
4.0 sq mi
ZIP Area
11,370
Density / Sq Mi
$82,009
Median Household Income
$34,941
Median Earnings
$1,878
Median Rent
$665,900
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?
Quadplex - Rare opportunity for investors or owner-occupants in Garden Grove.
Where is this quadplex located?
The property is located at 13391 Palm St Garden Grove, CA.
What is the asking price?
The asking price for this property is $1,930,000.
What are key features of this property?
This property features: Vacant Front Unit: Ideal for owner‑occupancy with potential for lower down payment and better financing terms while generating rental income from other units.; Four Unique Units: Offers flexibility for various investment strategies and tenant needs.; Well‑Maintained Property: Long‑term tenants and recent repiping ensure low operating expenses and peace of mind.
