14-Unit Apartment
For Sale
$4,400,000
13211 Nelson Street, Garden Grove, CA 92843
A one- and two-bedroom unit mix is complemented by a pool, shared laundry, and assigned parking.
Property Size11,137 SF
Price / SF$395.08
Days on Market13
Property Features for 13211 Nelson Street
General Information
Standard status
Active
Size
11,137 SF
Total Parking Spaces
14
Property subtype
Multi-family
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
6 x 2BR/1BA, 8 x 1BR/1BA
Multifamily Units
14
Amenities
swimming pool
laundry room
Building Details
Year Built
1960
Listing Agency:
CB Richard Ellis,Inc.
Listed By:
Sean Riley · License #01920511
(714) 493-0614
Source:
Sevengables
Added: Sep 28
Changed: Oct 10
Last Checked: Oct 10 at 1:17AM
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 CB Richard Ellis,Inc.
Investment Insights
Based on property information with market context.
Ravenwood Arms is a 14-unit apartment property in Garden Grove, with 11,137 square feet of building area. Constructed in 1960, it contains six two-bedroom, one-bathroom apartments and eight one-bedroom, one-bathroom apartments. Residents have access to a swimming pool and shared laundry room. Electricity and gas are individually metered; water is master metered. Fourteen uncovered assigned spaces are located behind the building, with street parking nearby.
Recent work includes replacement of decking, stairs, and railings, installation of newer doors and windows, and resealing of the asphalt parking area. The property is near shopping, restaurants, and daily services, with Knott’s Berry Farm and Disneyland Resort among the regional destinations. Its Walk Score is 81/100, and the 22, 405, 5, and 55 freeways provide connections around Orange County and the greater Los Angeles area.
Recent work includes replacement of decking, stairs, and railings, installation of newer doors and windows, and resealing of the asphalt parking area. The property is near shopping, restaurants, and daily services, with Knott’s Berry Farm and Disneyland Resort among the regional destinations. Its Walk Score is 81/100, and the 22, 405, 5, and 55 freeways provide connections around Orange County and the greater Los Angeles area.
Key Highlights
- 14 apartments totaling 11,137 square feet
- Unit mix: six 2‑bedroom/1‑bathroom apartments and eight 1‑bedroom/1‑bathroom apartments
- Built in 1960; swimming pool and shared laundry room
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$166,708
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,334,160
$3.3M
Cap Rate 7%
$2,381,543
$2.4M
Cap Rate 9%
$1,852,311
$1.9M
Market Conditions
NOI Build-Up for 11,137 SF
Gross rent
$320.7K $28.80/SF
− Vacancy
−$17.6K −$1.58/SF
EGI
$303.1K $27.22/SF
− OpEx
−$136.4K −$12.25/SF
NOI
$166.7K $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 Rate 5%
$3,334,160
Cap Rate 7%
$2,381,543
Cap Rate 9%
$1,852,311
Alternative Uses
Best Use
Apartment 5plus
$2.38M
$2.08M – $2.78M
NOI $166,708 @ 7.0% cap · market cap 3.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.49M
$3.05M – $4.07M
NOI $243,980 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
14
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,731
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - A one- and two-bedroom unit mix is complemented by a pool, shared laundry, and assigned parking.
Where is this apartment building located?
The property is located at 13211 Nelson Street Garden Grove, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: 14 apartments totaling 11,137 square feet; Unit mix: six 2‑bedroom/1‑bathroom apartments and eight 1‑bedroom/1‑bathroom apartments; Built in 1960; swimming pool and shared laundry room
