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12221 Peacock Ct
Garden Grove, CA 92841
Plaza Peacock · Multifamily Property For Sale
·
10 Units
INVESTMENT HIGHLIGHTS
- Convenient access to the 22, 5 & 405 freeways
- Garden-style building offering strong curb appeal and stable occupancy
- 4.73% CAP rate with a 12.00 GRM
- Minutes away from major shopping, dining, and employment centers, attracting consistent rental demand
- Ideally positioned on the corner of Peacock Ct & Bixby Ave for excellent visibility and tenant appeal
EXECUTIVE SUMMARY
12221 Peacock Ct presents a compelling opportunity to acquire a 10-unit multifamily asset in the heart of Garden Grove. Offered at $2,300,000, the property is
priced at $382.19 per square foot and $230,000 per unit, positioning it competitively within the Orange County multifamily market. The asset offers a stable in-place cash
flow with clear value-add potential through renovations that can drive higher rental income. At current operations, the property is offered at a 4.73% CAP rate with a 12.00
GRM, while the proforma CAP rate improves to 4.83% with a proforma GRM of 11.85, reflecting achievable income growth through unit upgrades and operational
enhancements. These metrics highlight the property's ability to deliver consistent returns in a high-demand rental submarket. Constructed in 1961, the two-story building
spans 6,018 square feet on an oversized 11,292 square-foot lot, zoned R-3, allowing for strong long-term value preservation. Situated on a desirable corner lot and
surrounded by single-family homes, the property benefits from enhanced curb appeal, a quieter residential environment, and strong tenant demand. The combination of lot
size, neighborhood character, and renovation potential positions the asset for long-term income growth and appreciation. Located in one of Garden Grove's most sought after
neighborhoods, 12221 Peacock Ct enjoys proximity to shopping centers, dining destinations, parks, and cultural hubs throughout Orange County. The area's strong
employment base and residential character support high occupancy levels and competitive rental rates, driven by strong tenant demand and convenient access to
employment centers and transportation corridors. RUBS for 2023: $5,936 and 2024: $7,974.38 collected. Currently, 3 units are vacant.
Do not enter the property and do not disturb Tenants!
priced at $382.19 per square foot and $230,000 per unit, positioning it competitively within the Orange County multifamily market. The asset offers a stable in-place cash
flow with clear value-add potential through renovations that can drive higher rental income. At current operations, the property is offered at a 4.73% CAP rate with a 12.00
GRM, while the proforma CAP rate improves to 4.83% with a proforma GRM of 11.85, reflecting achievable income growth through unit upgrades and operational
enhancements. These metrics highlight the property's ability to deliver consistent returns in a high-demand rental submarket. Constructed in 1961, the two-story building
spans 6,018 square feet on an oversized 11,292 square-foot lot, zoned R-3, allowing for strong long-term value preservation. Situated on a desirable corner lot and
surrounded by single-family homes, the property benefits from enhanced curb appeal, a quieter residential environment, and strong tenant demand. The combination of lot
size, neighborhood character, and renovation potential positions the asset for long-term income growth and appreciation. Located in one of Garden Grove's most sought after
neighborhoods, 12221 Peacock Ct enjoys proximity to shopping centers, dining destinations, parks, and cultural hubs throughout Orange County. The area's strong
employment base and residential character support high occupancy levels and competitive rental rates, driven by strong tenant demand and convenient access to
employment centers and transportation corridors. RUBS for 2023: $5,936 and 2024: $7,974.38 collected. Currently, 3 units are vacant.
Do not enter the property and do not disturb Tenants!
PROPERTY FACTS
| Price Per Unit | $230,000 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 4.73% | Lot Size | 0.26 AC |
| Gross Rent Multiplier | 12 | Building Size | 6,018 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 4.73% |
| Gross Rent Multiplier | 12 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,018 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | R-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,676 | - |
| Studios | 2 | $1,245 | - |
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