Two Multifamily Properties for
For Sale
$1,700,000
12922 Shackelford Ln, Garden Grove, CA 92841
Two adjacent 6-unit multifamily properties with upside potential.
Property Size3,765 SF
Lot Size0.18 Acres
Days on Market270
Property Features for 12922 Shackelford Ln
General Information
Standard status
Active
Size
3,765 SF
Lot size
0.18 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,936
Building Details
Building Size
3,765 SF
Year Built
1958
Stories
2
Units
6
Listing Agency:
(714) 234-7468
Listed By:
Lisa Nguyen · License #01384832
(714) 234-7468
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 17
Last Checked: Aug 24 at 9:08AM
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 Lisa Nguyen
Investment Insights
Based on property information with market context.
Two adjacent properties located at 12922 and 12932 Shackleford Lane are being sold together. Each property contains 6 units, with a unit mix of one 2-bedroom, 1-bathroom unit and five 1-bedroom, 1-bathroom units. The outdoor exteriors have been newly painted, and new outdoor stairs have been installed. All units feature new indoor circuit breakers. Each unit is individually metered for electricity and gas. The properties include four two-car garages and ten parking spaces. There are long-term tenants in place, with potential for rent increases and future development. On-site, there are coin-operated washer and dryer machines for additional income. The location is near a school and supermarket.
Key Highlights
- Two adjacent properties being sold together, totaling 12 units.
- Each unit is individually metered for electricity and gas.
- Includes four two‑car garages and 10 parking spaces.
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
$56,358
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
3.32%
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%
$1,127,160
$1.1M
Cap Rate 7%
$805,114
$805.1K
Cap Rate 9%
$626,200
$626.2K
Market Conditions
NOI Build-Up for 3,765 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
$108.4K $28.80/SF
− Vacancy
−$6.0K −$1.58/SF
EGI
$102.5K $27.22/SF
− OpEx
−$46.1K −$12.25/SF
NOI
$56.4K $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%
$1,127,160
Cap Rate 7%
$805,114
Cap Rate 9%
$626,200
Alternative Uses
Best Use
Apartment 5plus
$805.1K
$704.5K – $939.3K
NOI $56,358 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,481 @ 7.0% cap · market cap 4.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,377
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 - Two adjacent 6-unit multifamily properties with upside potential.
Where is this apartment building located?
The property is located at 12922 Shackelford Ln Garden Grove, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Two adjacent properties being sold together, totaling 12 units.; Each unit is individually metered for electricity and gas.; Includes **four two‑car garages and 10 parking spaces**.
