Garden Grove Triplex Investment
For Sale
$1,500,000
12892 Adelle, Garden Grove, CA 92841
Triplex in Garden Grove with strong income potential.
Property Size3,123 SF
Lot Size0.21 Acres
Days on Market255
Property Features for 12892 Adelle
General Information
Standard status
Active
Size
3,123 SF
Lot size
0.21 Acres
Property subtype
Investment
Building Details
Building Size
3,123 SF
Year Built
1956
Units
3
Listing Agency:
(714) 292-6528
Listed By:
Benjamin Cheng
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:47AM
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 Benjamin Cheng
Investment Insights
Based on property information with market context.
This Garden Grove triplex presents an income-producing investment opportunity. The property features three 2-bedroom, 1-bathroom units within a 3,123 square foot structure situated on a 9,214 square foot lot. There are six open parking spaces and two single-car garages available. Each unit has a separate address and individual electric, gas, and water meters. The property is centrally located in Garden Grove, with proximity to freeways, schools, and shopping. The property generates a rental income of $5,552 per month with low expenses.
Key Highlights
- Great income‑producing investment opportunity with $5552 monthly rental income.
- Triplex featuring three 2‑bedroom/1‑bathroom units.
- Each unit has separate addresses and separate meters (electric, gas, and water).
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
$52,214
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
3.48%
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%
$1,044,280
$1.0M
Cap Rate 7%
$745,914
$745.9K
Cap Rate 9%
$580,156
$580.2K
Market Conditions
NOI Build-Up for 3,123 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
$78.7K $25.20/SF
− Vacancy
−$4.1K −$1.32/SF
EGI
$74.6K $23.88/SF
− OpEx
−$22.4K −$7.17/SF
NOI
$52.2K $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%
$1,044,280
Cap Rate 7%
$745,914
Cap Rate 9%
$580,156
Alternative Uses
Best Use
Multifamily LT 5
$745.9K
$652.7K – $870.2K
NOI $52,214 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$667.8K
$584.4K – $779.1K
NOI $46,748 @ 7.0% cap · market cap 3.12%
Theoretical Best
Office A
$977.4K
$855.2K – $1.14M
NOI $68,416 @ 7.0% cap · market cap 4.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,205
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?
Triplex - Triplex in Garden Grove with strong income potential.
Where is this triplex located?
The property is located at 12892 Adelle Garden Grove, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Great income‑producing investment opportunity with $5552 monthly rental income.; Triplex featuring three 2‑bedroom/1‑bathroom units.; Each unit has separate addresses and separate meters (electric, gas, and water).
