10101 Lampson AveGarden Grove, CA 92840

This exceptional 12-unit apartment building presents a compelling investment opportunity in Garden Grove, California. Situated on a substantial 34,894 square foot lot (two parcels) at 10101 Lampson Ave, 92840, this single-story property boasts a total of 7,750 square feet. Built between 1942 and 1950, the building offers a mix of unit sizes: two 3-bedroom/2-bathroom units and ten 1-bedroom/1-bathroom units. The current asking price is $3,759,000, translating to $313,250 per unit and a price per square foot of $453. The property features ample on-site parking. The current Net Operating Income (NOI) is $164,336, resulting in a 4.37% cap rate. However, a pro-forma cap rate of 6.02% suggests significant upside potential. Zoned R3 (32 units per acre), this property offers developers a fantastic opportunity to increase density, potentially through the addition of Accessory Dwelling Units (ADUs) on each parcel. This prime location in Orange County, California, presents a rare chance to acquire a multifamily asset with substantial growth potential. The property's size and zoning make it an ideal candidate for value-add strategies. The substantial lot size and existing infrastructure provide a solid foundation for future development and increased profitability.