11801 Stuart Dr Garden Grove, CA 92843-1663

Property Details for 11801 Stuart Dr

Year built

1958

Lot size

0.28 lot acres

Property size

8,597 SF

Property type

Apartment buildings

APN

100-502-04

APU

10050204

Description

This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving Garden Grove rental market. Located at 11801 Stuart Drive, Garden Grove, CA 92843, this two-story, 1958-built property boasts 8,597 square feet of net rentable space on a 12,023 square foot lot. The building features a desirable unit mix, including seven two-bedroom units and three one-bedroom units, each contributing to a strong rental income stream. Residents enjoy convenient amenities such as nine single-car garage spaces, an on-site laundry room, and a sparkling swimming pool. Recent upgrades include new dual-pane windows throughout, refreshed exterior paint, and select units featuring new paint, vinyl plank flooring, and updated fixtures. The property benefits from separately metered gas and electric, minimizing operating costs. With a current NOI of $140,702 and a 4.31% cap rate, this property offers a solid return on investment. The property is offered at $3,265,000 ($326,500 per unit) and is suitable for a 1031 exchange. Garden Grove's central Orange County location provides easy access to beaches, shopping, dining, and major freeways, making it an attractive location for renters. The secured access entries and well-maintained landscaping further enhance the property's appeal. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Garden Grove

County

Orange

State

California

Longitude

-117.924

Latitude

33.7733

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments