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SOLD 1/29/2021
12562 Keel Avenue, Garden Grove, CA 92843
1
bed
1
bath
5050
ft2
· 10038
ft2 lot
$1,750,000
$366 / ft2
Listing provided courtesy of Listing Broker: David Harrington, Matthews Real Estate Investmen.
Source CRMLS.
This is an opportunity to acquire an 8-unit apartment in Garden Grove. It has been very well-maintained by the owner and a pride of ownership for the last 20 years. This opportunity consists of eight one-bedroom one-bathroom units, and boasts updated windows, and updates added in the units kitchen and bathrooms. This property offers 16% rental upside with great asset security for any investor looking to own in the ever-growing market of Garden Grove. The upside can be seen with the incredible marketable location and the property offering any investor a great sum of wealth accumulation through asset appreciation. The property has on-site laundry facilities and includes 11 parking spaces, 8 carports, and 3 open parking spaces for tenants. The building is individually metered for electricity and is in an opportunity zone.
HOA
$—/month
On market
4 months
Year built
1961
Property type
Multi-Family
Parking
8
MLS
20612212
Price / Sq.Ft.
$366 / ft2
Status
Closed
Flyhomes Cash Offer
Based on a price of $1,850,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$0
$0
+$360/day
$0
Best
Flyhomes Guaranteed Offer
$9,250
- -
$9,250
Better
Discount Brokerage
$7,085
not offered
$7,085
Average
Traditional Brokerage
$0
not offered
$0
Variable
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Property Details
Interior Features & Layout
Interior Features
•   
Window Features: Double Pane Windows
Heating & Cooling
•   
Has Heating
•   
Heating Details: Wall Furnace
Flooring
•   
Flooring: Vinyl
Interior Size
•   
Building Area Total: 5050.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Parking Available: 1
•   
Parking Features: Carport, Parking Space
•   
Carport Spaces: 8.00
Lot Info
•   
Lot Size Source: Assessor
•   
Lot Size Acres: 0.2300
•   
Lot Size Area: 10038.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 8
Building Info
•   
Stories Total: 2
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 8
Listing Details, Costs & Financing Information
Financial Info
•   
Gross Operating Income: 119735.00
•   
Total Expenses: 37402.00
•   
Gross Multiplier: 15.00
Tax/Assessment Info
•   
Gross Income: 120036.00
•   
Tax Year: 2020
•   
Taxes: 8107.0
Lease Info
•   
Net Operating Income: 82333.00
Listing Info
•   
Status: Closed
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 8
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1250.00
•   
Unit 1 Total Rent: 10003.00
Multi Unit Information
•   
# Of Units: 13
School Neighborhood & Directions
School Info
•   
Directions: The major cross streets are Westminster Ave, and Harbor Blvd. Also, the property is in close proximity to Shopping Centers, Restaurants, the 5 & 22 Freeways, Santa Ana College, Willowick and Riverview Golf Courses, and is in the Garden Grove Unified School District. Do not miss out on this rare opportunity to own in Garden Grove.
Other
Calculation
•   
Dom: 113
•   
Cdom: 113
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: May 14, 2021 7:53pm
Neighborhood snapshot
29
Properties for sale
5
Median days on market
$440.90
Median sold price/sqft
101.98%
Sold/List %
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Property History
01/29/2021
01/29/2021
Public Record
sold
Public Record
$1,750,000
--5.41%
01/29/2021
01/29/2021
CRMLS #20612212
sold
CRMLS #20612212
$1,850,000
10/16/2020
10/16/2020
CRMLS #20612212
active
CRMLS #20612212
$1,850,000
--2.63%
07/31/2020
07/31/2020
CRMLS #20612212
active
CRMLS #20612212
$1,900,000
+449.93%
04/29/1999
04/29/1999
Public Record
sold
Public Record
$345,500
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