Four-Unit Multifamily
New
For Sale
$1,795,000
13282 Fletcher Street, Garden Grove, CA 92844
A mixed unit configuration includes two- and three-bedroom residences in a Garden Grove multifamily asset.
Property Size4,152 SF
Days on Market5
Property Features for 13282 Fletcher Street
General Information
Standard status
Active
Size
4,152 SF
Property subtype
Quadruplex
Units
Unit Mix
3 x 2BR, 1 x 3BR
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Building Size
4,152 SF
Year Built
1964
Listing Agency:
PAEZ REALTY COMPANY
Listed By:
William Melton · License #01342816
(909) 476-3552
Source:
Altamirarealty
Added: Sep 1
Changed: Sep 4
Last Checked: Sep 5 at 7:10AM
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 PAEZ REALTY COMPANY
Investment Insights
Based on property information with market context.
Built in 1964, this four-unit multifamily property in Garden Grove includes three two-bedroom residences and one three-bedroom residence. The configuration provides a varied mix within a compact income-property format. The asset also offers renovation potential, with possible upgrades including kitchen and bathroom modernization, quartz countertops, shaker-style cabinetry, contemporary appliances, recessed lighting, luxury vinyl plank flooring, and updated fixtures.
The property is positioned near Garden Grove Boulevard, Historic Main Street, the GARDEN AMP, Disneyland, the Anaheim Convention Center, Little Saigon, Bella Terra, and The Outlets at Orange. State Route 22 provides regional connectivity across Orange County and the broader Southern California area.
The property is positioned near Garden Grove Boulevard, Historic Main Street, the GARDEN AMP, Disneyland, the Anaheim Convention Center, Little Saigon, Bella Terra, and The Outlets at Orange. State Route 22 provides regional connectivity across Orange County and the broader Southern California area.
Key Highlights
- Four‑unit multifamily property built in 1964
- Unit mix includes three two‑bedroom units and one three‑bedroom unit
- Renovation scope may include kitchens, bathrooms, flooring, lighting, and contemporary finishes
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
$69,418
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
3.87%
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%
$1,388,360
$1.4M
Cap Rate 7%
$991,686
$991.7K
Cap Rate 9%
$771,311
$771.3K
Market Conditions
NOI Build-Up for 4,152 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
$104.6K $25.20/SF
− Vacancy
−$5.5K −$1.32/SF
EGI
$99.2K $23.88/SF
− OpEx
−$29.8K −$7.17/SF
NOI
$69.4K $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%
$1,388,360
Cap Rate 7%
$991,686
Cap Rate 9%
$771,311
Alternative Uses
Best Use
Multifamily LT 5
$991.7K
$867.7K – $1.16M
NOI $69,418 @ 7.0% cap · market cap 3.87%
Second Best
Apartment 5plus
$887.9K
$776.9K – $1.04M
NOI $62,150 @ 7.0% cap · market cap 3.46%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $90,959 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,647
Businesses Nearby
Explore this area
Business Placement
Demographics for 92844, CA
23,668
Population
7,187
Households
3.3
Avg Household Size
39
Median Age
22%
College-Educated
72%
High-School Grad
2.1 sq mi
ZIP Area
11,270
Density / Sq Mi
$73,590
Median Household Income
$36,444
Median Earnings
$1,989
Median Rent
$706,900
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?
Quadplex - A mixed unit configuration includes two- and three-bedroom residences in a Garden Grove multifamily asset.
Where is this quadplex located?
The property is located at 13282 Fletcher Street Garden Grove, CA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1964; Unit mix includes three two‑bedroom units and one three‑bedroom unit; Renovation scope may include kitchens, bathrooms, flooring, lighting, and contemporary finishes
