5-Unit Apartment
For Sale
$2,290,000
12582 Adelle Street, Garden Grove, CA 92841
Diverse layouts feature private outdoor areas, dedicated garages, and recent property improvements.
Property Size4,737 SF
Days on Market84
Property Features for 12582 Adelle Street
General Information
Standard status
Active
Size
4,737 SF
Total Parking Spaces
8
Property subtype
Apartment
Units
Unit Mix
2 x 1BR/1BA, 2 x 2BR/2BA, 1 x 3BR/2.5BA
Multifamily Units
5
Additional Details
Gross Income
$148,380
Highway Access
Yes
Amenities
private yards
patios
balconies
laundry room
Building Details
Building Size
4,737 SF
Year Built
1977
Listing Agency:
Gerard Properties Inc.
Listed By:
Scott Gerard · License #01004111
Source:
Velocityrealtysd
Added: Jun 3
Changed: Aug 12
Last Checked: Aug 24 at 2:14PM
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 Gerard Properties Inc.
Investment Insights
Based on property information with market context.
This 5-unit apartment property, built in 1977, offers a varied residential configuration with two 1-bedroom/1-bath units, two 2-bedroom/2-bath units, and one 3-bedroom/2.5-bath townhouse-style residence. The townhouse includes private front and side yards, a rear patio, and two side-by-side garages with automatic openers. The other residences have dedicated one-car garages, while two additional garages are leased for storage.
Recent improvements include a roof replacement over the rear building in 2024, a new water heater in 2025, and new electric panels in every unit and the laundry room in 2025. Private patios, yards, and balconies add outdoor space across the unit mix.
Located at 12582 Adelle Street in Garden Grove, the property sits just over half a mile from Beach Boulevard and provides access to shopping, dining, entertainment, the 405 Freeway, and the 22 Freeway. The surrounding area includes single-family homes and smaller apartment communities.
Recent improvements include a roof replacement over the rear building in 2024, a new water heater in 2025, and new electric panels in every unit and the laundry room in 2025. Private patios, yards, and balconies add outdoor space across the unit mix.
Located at 12582 Adelle Street in Garden Grove, the property sits just over half a mile from Beach Boulevard and provides access to shopping, dining, entertainment, the 405 Freeway, and the 22 Freeway. The surrounding area includes single-family homes and smaller apartment communities.
Key Highlights
- 5‑unit mix: two 1‑bedroom/1‑bath, two 2‑bedroom/2‑bath, and one 3‑bedroom/2.5‑bath townhouse
- Rear building roof installed in 2024; new water heater and electric panels completed in 2025
- Townhouse includes private front and side yards, rear patio, and two side‑by‑side garages
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
$70,907
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
3.10%
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%
$1,418,140
$1.4M
Cap Rate 7%
$1,012,957
$1.0M
Cap Rate 9%
$787,856
$787.9K
Market Conditions
NOI Build-Up for 4,737 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
$136.4K $28.80/SF
− Vacancy
−$7.5K −$1.58/SF
EGI
$128.9K $27.22/SF
− OpEx
−$58.0K −$12.25/SF
NOI
$70.9K $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%
$1,418,140
Cap Rate 7%
$1,012,957
Cap Rate 9%
$787,856
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$886.3K – $1.18M
NOI $70,907 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.48M
$1.30M – $1.73M
NOI $103,774 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
Explore this area
Business Placement
Demographics for 92841, CA
34,376
Population
9,813
Households
3.5
Avg Household Size
39
Median Age
22%
College-Educated
75%
High-School Grad
4.6 sq mi
ZIP Area
7,473
Density / Sq Mi
$81,975
Median Household Income
$36,900
Median Earnings
$1,983
Median Rent
$766,400
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 - Diverse layouts feature private outdoor areas, dedicated garages, and recent property improvements.
Where is this apartment building located?
The property is located at 12582 Adelle Street Garden Grove, CA.
What is the asking price?
The asking price for this property is $2,290,000.
What are key features of this property?
This property features: 5‑unit mix: two 1‑bedroom/1‑bath, two 2‑bedroom/2‑bath, and one 3‑bedroom/2.5‑bath townhouse; Rear building roof installed in 2024; new water heater and electric panels completed in 2025; Townhouse includes private front and side yards, rear patio, and two side‑by‑side garages
