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SOLD 3/9/2021
12702 Flower Street, Garden Grove, CA 92840
1
bed
1
bath
5112
ft2
· 10019
ft2 lot
$1,850,000
$367 / ft2
Listing provided courtesy of Listing Broker: Rick Applebaum, Morgan Skenderian.
Source CRMLS.
We are pleased to offer 12702 Flower Street, an 8-unit apartment building in the in-demand rental market of Garden Grove. This investment opportunity has been well maintained over the years with capital improvements such as complete gas re-pipe (2017) and more recently, all-new bathrooms for every unit that include new tubs, vanities, flooring, toilets and ceiling exhaust fans. Situated on a large lot, tenants enjoy large grassy areas and excellent spacing between neighboring buildings offering an established single-family residential neighborhood feel. Already offering an excellent value-add opportunity through increased rents, a new investor can further increase their equity through continually upgrading interiors. The Flower Street apartments are poised to be an excellent addition to any investor's investment portfolio. *In-Deman Garden Grove Location, * All-New Bathrooms in Every Unit, *Well-Maintained Asset, *Complete Gas Re-Pipe (2017), *(14) On-Site Parking Spaces
HOA
$—/month
On market
5 months
Year built
1960
Property type
Multi-Family
Parking
14
MLS
PW20176410
Price / Sq.Ft.
$367 / ft2
Status
Closed
Flyhomes Cash Offer
Based on a price of $1,875,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$0
$0
+$365/day
$0
Best
Flyhomes Guaranteed Offer
$9,375
- -
$9,375
Better
Discount Brokerage
$7,188
not offered
$7,188
Average
Traditional Brokerage
$0
not offered
$0
Variable
Legal Disclaimer: The Savings Calculator is intended for planning and educational purposes only, and should not be solely relied upon in your decision to participate in Flyhomes’ Cash Offer or other programs.Read more
Property Details
Interior Features & Layout
Appliances
•   
Laundry Details: Community
•   
Laundry: 1
Rooms Info
•   
Average3 Bed Area Units: Square Feet
•   
Average Studio Area Units: Square Feet
•   
Average2 Bed Area Units: Square Feet
•   
Average1 Bed Area Units: Square Feet
Interior Size
•   
Building Area Total: 5112.00
Property, Lot, Community & Exterior Features
Parking Info
•   
Garage Spaces: 0.00
•   
Uncovered Spaces: 14.00
Building Info
•   
Building Area Units: Square Feet
•   
Stories Total: 2
•   
Num Stories: Two
•   
Year Built Source: Assessor
Lot Info
•   
Lot Features: 6-10 Units/Acre
•   
Lot Size Source: Assessor
•   
Elevation Units: Feet
•   
Lot Size Acres: 0.2300
•   
Lot Size Area: 10019.0000
•   
Lot Size Units: Square Feet
Community Info
•   
Number Of Buildings: 1
•   
Total Units: 8
Property Features
•   
Common Walls: No Common Walls
Utilities & Other Information
Utilities
•   
Number Of Separate Electric Meters: 9
•   
Number Of Separate Gas Meters: 9
•   
Number Of Separate Water Meters: 1
Water & Sewer Info
•   
Water Source: Public
•   
Sewer: Public Sewer
Listing Details, Costs & Financing Information
Financial Info
•   
Operating Expense Percent: 36.10
•   
Gross Operating Income: 114829.00
•   
Water Sewer Expense: 0.00
•   
Other Expense Description: Utility
•   
Other Expense: 8640.00
•   
Laundry Income: 2400.00
•   
Vacancy Allowance Rate: 3.00
•   
Maintenance Expense: 6890.00
•   
Cap Rate: 3.80
•   
Fuel Expense: 0.00
•   
Trash Expense: 0.00
•   
New Taxes Expense: 22195.00
•   
Insurance Expense: 1789.00
•   
Vacancy Allowance: 3551
•   
Professional Management Expense: 0.00
•   
Total Expenses: 42686.00
•   
Gross Scheduled Income: 118380.00
•   
Maintenance Percent: 6.00
•   
Operating Expense: 42686.00
•   
Gardener Expense: 600.00
•   
Gross Multiplier: 15.84
•   
Rent Control Yn: 1
Tax/Assessment Info
•   
Gross Income: 2400.00
•   
Tax Year: 2020
•   
Taxes: 13764.0
Lease Info
•   
Net Operating Income: 72142.00
Listing Info
•   
Status: Closed
Other
•   
Electric Expense: 0.00
Multi Unit Information
Unit 1 Information
•   
Unit 1 Bedrooms: 1
•   
Unit 1 Total Units: 8
•   
Unit 1 Furnished Units: Unfurnished
•   
Unit 1 Garage Spaces: 0.00
•   
Unit 1 Bathrooms: 1
•   
Unit 1 Actual Rent: 1208.00
•   
Unit 1 Total Rent: 9665.00
Multi Unit Information
•   
# Of Units: 1
School Neighborhood & Directions
Location
•   
Other Subdivision Name: Other
•   
Subdivision: Other (OTHR)
•   
Community Features: Curbs, Storm Drains, Street Lights
School Info
•   
Directions: North of Garden Grove Boulevard and East of Brookhurst Street
Other
Calculation
•   
Dom: 146
•   
Cdom: 146
The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: May 17, 2021 5:37pm
Neighborhood snapshot
34
Properties for sale
5
Median days on market
$436.77
Median sold price/sqft
101.81%
Sold/List %
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Property History
03/09/2021
03/09/2021
Public Record
sold
Public Record
$1,776,000
--5.28%
03/09/2021
03/09/2021
CRMLS #PW20176410
sold
CRMLS #PW20176410
$1,875,000
10/19/2020
10/19/2020
CRMLS #PW20176410
active
CRMLS #PW20176410
$1,875,000
--0.79%
08/27/2020
08/27/2020
CRMLS #PW20176410
active
CRMLS #PW20176410
$1,890,000
+151.16%
08/18/2003
08/18/2003
Public Record
sold
Public Record
$752,500
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