13052 Rockinghorse Rd Garden Grove, CA 92843
- Apartment buildings
- 4,978 SF
- 0.24 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 13052 Rockinghorse Rd
- Year built
- 1959
- Lot size
- 0.24 lot acres
- Property size
- 4,978 SF
- Property type
- Apartment buildings
- APN
- 100-501-02
- APU
- 10050102
Description
This exceptional 8-unit apartment building presents a compelling investment opportunity in the desirable Garden Grove, California market. Boasting a 100% occupancy rate and a strong 5.34% cap rate based on a Net Operating Income (NOI) of $138,834, this property offers immediate cash flow. The property, situated on a 10,506 sq ft lot, comprises a single, two-story building totaling 4,978 net rentable square feet. Built in 1959 and extensively renovated in 2021, the property features eight one-bedroom units, each equipped with air conditioning and a private garage. The comprehensive renovation included new kitchens, bathrooms, flooring (vinyl plank), a new roof, fascia, paint, stucco, vinyl windows, entry doors, garage doors, exterior lighting, and new concrete throughout. A renovated laundry room with two owner-owned washers and dryers adds further value. A RUBs (renters utility billing) program is in place, contributing to lower operating expenses. The asking price is $2,599,000, translating to $324,875 per unit. The property is sold as-is
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,605,000
- ML approach
- $1,590,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,240,000
- 6.5%
- $1,145,000
- 7%
- $1,065,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,545,000
Market price range: $1.09M - $2.55M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,710,000 Current use
- NEIGHBORHOOD: SHOPPING CENTER
- $2,335,000 Change: +37% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,230,000 Change: +31% Conversion: Moderate
- OFFICE BUILDING
- $2,135,000 Change: +25% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,860,000 Change: +9% Conversion: Difficult
- RETAIL STORES
- $1,485,000 Change: -13% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Garden Grove
- County
- Orange
- State
- California
- Longitude
- -117.924
- Latitude
- 33.7736
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
