Two-Bedroom Multifamily
For Sale
$5,150,000
9551 Maureen Dr, Garden Grove, CA 92841
16-unit, all two-bedroom multifamily property with parking and shared courtyard, plus recent building system improvements.
Property Size13,520 SF
Lot Size0.50 Acres
Price / SF$380.92
Days on Market56
Property Features for 9551 Maureen Dr
General Information
Standard status
Active
Size
13,520 SF
Total Parking Spaces
18
Lot size
0.50 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
5.01%
Multifamily Units
16
Listing Agency:
Marcus & Millichap RE Invest
(949) 419-3282
Listed By:
Christian Tait · License #License(s): CA: 02111248
(949) 419-3282
Source:
Marcusmillichap
Added: Jun 11
Changed: Jul 10
Last Checked: Aug 5 at 4:00AM
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 Marcus & Millichap RE Invest
Investment Insights
Based on property information with market context.
This 16-unit multifamily community is offered as 9551–9561 Maureen Drive on a single 0.50-acre parcel. The property consists of two buildings and features an all two-bedroom, one-bath unit mix designed for straightforward day-to-day leasing and management. Community amenities include on-site laundry and a central courtyard layout, with resident parking provided through 16 garage spaces and 2 surface spaces.
The ownership has completed a series of capital improvements aimed at major exterior, structural, and building system items. Reported upgrades include completion of SB-721 in October 2025, walkway decking replacement, gas line replacement at 9551, roof replacement, garage door installation, and fascia repairs and repainting. Electrical panel and subpanel upgrades are also noted, along with select interior unit improvements.
For investors or operators seeking a manageable rental profile, this community offers uniform unit sizing and a shared-courtyard arrangement across two buildings. The parking mix supports resident needs through both garages and surface spaces, while the recently completed capital work may help reduce near-term exposure related to several building systems and exterior components under new ownership. Remaining opportunities, if any, would be focused on further interior renovations, common-area enhancements, and operational efficiencies based on the current condition and improvement history.
The ownership has completed a series of capital improvements aimed at major exterior, structural, and building system items. Reported upgrades include completion of SB-721 in October 2025, walkway decking replacement, gas line replacement at 9551, roof replacement, garage door installation, and fascia repairs and repainting. Electrical panel and subpanel upgrades are also noted, along with select interior unit improvements.
For investors or operators seeking a manageable rental profile, this community offers uniform unit sizing and a shared-courtyard arrangement across two buildings. The parking mix supports resident needs through both garages and surface spaces, while the recently completed capital work may help reduce near-term exposure related to several building systems and exterior components under new ownership. Remaining opportunities, if any, would be focused on further interior renovations, common-area enhancements, and operational efficiencies based on the current condition and improvement history.
Key Highlights
- 16‑unit multifamily community (9551–9561 Maureen Dr) in Garden Grove, CA on a 0.50‑acre parcel
- Approximately 13,520 net rentable SF with an all two‑bed/one‑bath unit mix
- Two buildings on one parcel with a spacious central courtyard and on‑site laundry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $389.4k | $28.80 |
| − Vacancy | −$21.4k | −$1.58 |
| EGI | $368.0k | $27.22 |
| − OpEx | −$165.6k | −$12.25 |
| NOI | $202.4k | $14.97 |
13,520 SF · lease $28.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.89M
$2.53M – $3.37M
NOI $202,378 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.23M
$3.70M – $4.94M
NOI $296,185 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Location Intelligence
Trade Area within ½ mile
756
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 - 16-unit, all two-bedroom multifamily property with parking and shared courtyard, plus recent building system improvements.
Where is this apartment building located?
The property is located at 9551 Maureen Dr Garden Grove, CA.
What is the asking price?
The asking price for this property is $5,150,000.
What are key features of this property?
This property features: 16‑unit multifamily community (9551–9561 Maureen Dr) in Garden Grove, CA on a 0.50‑acre parcel; Approximately 13,520 net rentable SF with an all two‑bed/one‑bath unit mix; Two buildings on one parcel with a spacious central courtyard and on‑site laundry
