5-Unit Apartment Building with
For Sale
Contact for pricing
13152 Pleasant, Garden Grove, CA 92843
Five-unit rental community with attached garage spaces and on-site laundry, offering flexible live-in-and-lease options.
Property Size4,018 SF
Price / SF$460.43
Days on Market117
Property Features for 13152 Pleasant
General Information
Standard status
Active
Size
4,018 SF
Property subtype
Multifamily
Zoning
Assessor
Additional Details
Multifamily Units
5
Building Details
Buildings
1
Units
5
Listing Agency:
Keller Williams Realty
(714) 861-5557
Listed By:
Elizabeth Do · License #01473012
Source:
Crexi
Added: Apr 15
Changed: Aug 8
Last Checked: Aug 8 at 9:30AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 5-unit apartment community offers a practical mix of floor plans, including two 1-bedroom, 1-bath units, two 2-bedroom, 1-bath units, and one larger 2-bedroom, 2-bath unit. Parking is supported by attached 1-car garage space for four units, while the larger unit includes two 1-car garage spaces. An on-site laundry facility adds everyday convenience for residents. Recent updates include a new water line installed in 2022, and renovations in Unit 3 with new flooring, fresh paint, and an updated kitchen countertop.
The property is located within a single-family residential neighborhood, and it is described as the only apartment complex in that setting. While the surrounding area is positioned as a quieter residential atmosphere, it is also noted to be conveniently close to parks, schools, and shops.
For investors or owner-occupants, the unit mix and garage availability make this building a straightforward candidate for steady residential leasing. The layout also supports the possibility of occupying one unit while renting the remaining units, using the community’s existing configuration to match different occupancy and income goals.
The property is located within a single-family residential neighborhood, and it is described as the only apartment complex in that setting. While the surrounding area is positioned as a quieter residential atmosphere, it is also noted to be conveniently close to parks, schools, and shops.
For investors or owner-occupants, the unit mix and garage availability make this building a straightforward candidate for steady residential leasing. The layout also supports the possibility of occupying one unit while renting the remaining units, using the community’s existing configuration to match different occupancy and income goals.
Key Highlights
- 5‑unit apartment community with 4,018 SF building on an 8,125 SF lot
- Unit mix: two 1 bed/1 bath, two 2 bed/1 bath, and one 2 bed/2 bath
- Four units include an attached 1‑car garage space; the larger unit has two 1‑car garage 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
$60,145
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
3.25%
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%
$1,202,900
$1.2M
Cap Rate 7%
$859,214
$859.2K
Cap Rate 9%
$668,278
$668.3K
Market Conditions
NOI Build-Up for 4,018 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
$115.7K $28.80/SF
− Vacancy
−$6.4K −$1.58/SF
EGI
$109.4K $27.22/SF
− OpEx
−$49.2K −$12.25/SF
NOI
$60.1K $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%
$1,202,900
Cap Rate 7%
$859,214
Cap Rate 9%
$668,278
Alternative Uses
Best Use
Apartment 5plus
$859.2K
$751.8K – $1.00M
NOI $60,145 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,023 @ 7.0% cap · market cap 4.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,372
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?
Apartment building - Five-unit rental community with attached garage spaces and on-site laundry, offering flexible live-in-and-lease options.
Where is this apartment building located?
The property is located at 13152 Pleasant Garden Grove, CA.
What is the asking price?
The asking price for this property is $1,850,000.
What are key features of this property?
This property features: 5‑unit apartment community with 4,018 SF building on an 8,125 SF lot; Unit mix: two 1 bed/1 bath, two 2 bed/1 bath, and one 2 bed/2 bath; Four units include an attached 1‑car garage space; the larger unit has two 1‑car garage spaces
