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12603 Josephine St - 3U - 12603 Josephine St. GG 3 Unit Apartment Building Offered at $1,299,000 at a 5.08% Cap Rate Garden Grove, CA 92841
Investment Highlights
- 5.02% CAP Rate on Current Rents
- Private Patios and Yards
- All Detached 2BR Cottages
- Prime Garden Grove Location
Executive Summary
12603 Josephine Street offers a rare collection of detached 2-bedroom cottages, each with private yards or patios and a highly desirable single-story layout. The bungalow-style configuration delivers strong tenant appeal, functional separation, and the feel of individual homes—an increasingly scarce product type in today’s multifamily market. What's even more appealing is the 5%+ CAP rate on current income!
The property features ample on-site parking and well-designed floor plans that support long-term rental stability with future upside through interior renovations and rent growth.
Ideally located in Garden Grove, the property provides convenient access to Harbor Boulevard, Chapman Avenue, and the 22 Freeway, connecting tenants to major employment hubs, shopping, dining, and nearby Orange County cities.
The property features ample on-site parking and well-designed floor plans that support long-term rental stability with future upside through interior renovations and rent growth.
Ideally located in Garden Grove, the property provides convenient access to Harbor Boulevard, Chapman Avenue, and the 22 Freeway, connecting tenants to major employment hubs, shopping, dining, and nearby Orange County cities.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$97,200
|
$37.01
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,916
|
$1.11
|
| Effective Gross Income |
$94,284
|
$35.90
|
| Taxes |
$16,144
|
$6.15
|
| Operating Expenses |
$12,127
|
$4.62
|
| Total Expenses |
$28,271
|
$10.77
|
| Net Operating Income |
$66,013
|
$25.14
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $97,200 |
| Annual Per SF | $37.01 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,916 |
| Annual Per SF | $1.11 |
| Effective Gross Income | |
|---|---|
| Annual | $94,284 |
| Annual Per SF | $35.90 |
| Taxes | |
|---|---|
| Annual | $16,144 |
| Annual Per SF | $6.15 |
| Operating Expenses | |
|---|---|
| Annual | $12,127 |
| Annual Per SF | $4.62 |
| Total Expenses | |
|---|---|
| Annual | $28,271 |
| Annual Per SF | $10.77 |
| Net Operating Income | |
|---|---|
| Annual | $66,013 |
| Annual Per SF | $25.14 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,500 | - |
| 2+1.5 | 1 | $3,100 | - |
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Property Taxes
| Parcel Number | 215-101-09 | Total Assessment | $331,888 |
| Land Assessment | $209,261 | Annual Taxes | $16,144 ($6.15/SF) |
| Improvements Assessment | $122,627 | Tax Year | 2025 |
Property Taxes
Parcel Number
215-101-09
Land Assessment
$209,261
Improvements Assessment
$122,627
Total Assessment
$331,888
Annual Taxes
$16,144 ($6.15/SF)
Tax Year
2025
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12603 Josephine St - 3U - 12603 Josephine St. GG
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