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12581 Kensington LN Garden Grove, CA 92840
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Key Details
Sold Price $2,408,000
Property Type Commercial
Sub Type Commercial/Residential
Listing Status Sold
Purchase Type For Sale
Square Footage 5,120 sqft
Price per Sqft $470
Subdivision Other (Othr)
MLS Listing ID NP24026154
Sold Date 04/29/24
HOA Y/N No
Year Built 1960
Lot Size 9,583 Sqft
Acres 0.22
Property Sub-Type Commercial/Residential
Property Description
HIGHEST CAP RATE IN GARDEN GROVE! Property in excellent condition, lot has space for 1 ADU unit, 2:1 parking ratio! One Bedroom units on the same block are currently renting for $2100!
4 of 8 units are fully renovated in turnkey condition, the remain 4 units underwent minor renovations in 2023. 3 of 8 tenants are section 8 housing, other 5 tenants are on year leases! Units include: tile or vinyl flooring, dual pane windows, new appliances, new fixtures and outlets, brand new electric subpanels, wall heaters, re-glazed bathtubs, new cabinets and countertops, large walk-in closets. 5 of 8 tenants have RUBs in contract.
Location
State CA
County Orange
Area 66 - N Of Blsa, S Of Ggrv, E Of Brookhrst, W Of Ha
Interior
Laundry Common Area
Exterior
Pool None
Community Features Suburban
Private Pool No
Building
Lot Description 6-10 Units/Acre
Story 2
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Special Listing Condition Standard
Lease Land No
Confidential INFO
BAC 2.0
TERMS 1031 Exchange,Cash,Cash To New Loan
LIST AGRMT Exclusive Right To Sell
LIST SERVICE Full Service
SHOW CONTACT TYPE None
SHOW INSTRUCTIONS *Buyer and Buyer's agent to verify income and expenses* *Annual expenses based on fully occupancy operations 2022* *RUBs income estimated* *laundry income based on fully occupancy pro forma*
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Bought with R L M Equities