10772 Palma Vis Ave Garden Grove, CA 92840-1338
- Apartment buildings
- 4,864 SF
- 0.21 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 10772 Palma Vis Ave
- Year built
- 1961
- Lot size
- 0.21 lot acres
- Property size
- 4,864 SF
- Property type
- Apartment buildings
- APN
- 089-652-01
- APU
- 8965201
Description
This exceptional 8-unit apartment building in Garden Grove, California presents a compelling investment opportunity. Located at 10772 Palma Vista Avenue, this two-story, 1961-built property boasts a current NOI of $121,303 and a compelling 5.27% cap rate, the highest currently listed in Garden Grove. A pro-forma NOI of $129,693 projects a 5.64% cap rate. The asking price is $2,300,000, or $287,500 per unit. The property benefits from a significant portion of units having been recently renovated, eliminating immediate capital expenditure needs. A RUBS system (renters pay utilities) reduces landlord expenses, with individual electric meters and tenants responsible for water and trash. This turnkey acquisition is ideally situated near major freeways (CA-22 and CA-5), key thoroughfares (Katella Avenue and Euclid Street), and numerous restaurants and employment centers. Its prime location in Garden Grove also provides proximity to Orange County's renowned tourist attractions, including Disneyland and the Anaheim Convention Center, ensuring a strong rental market. This is a rare opportunity to acquire a high-yielding, well-maintained multifamily property in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,210,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,750,000
- 6.5%
- $2,020,000
- 7%
- $1,950,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,905,000
- Geo Method
- $1,845,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,790,000
- Retail
- $1,840,000
- Mixed-Use
- $2,120,000
- Hospitality
- $2,065,000
- Educational
- $1,950,000
- Residential Income
- $1,670,000
- Energy
- $1,990,000
- Income-Based Land
- $1,715,000
- Food Service
- $2,150,000
Location Insight
- Map
- Local Demand
- City
- Garden Grove
- County
- Orange
- State
- California
- Longitude
- -117.945
- Latitude
- 33.7997
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
