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12621 Morningside Ave 8 Unit Apartment Building $2,599,000 ($324,875/Unit) 5.69% Cap Rate Garden Grove, CA 92843
EXECUTIVE SUMMARY
Nestled in the vibrant heart of Garden Grove, California, 12621 Morningside Ave presents an incredible investment opportunity. This charming 8-unit apartment complex combines both comfort and practicality, making it an appealing choice for tenants and investors alike. Each unit boasts a spacious and inviting layout, designed to maximize natural light through large windows—creating a warm and welcoming atmosphere. The property's prime location is a standout feature, offering residents convenient access to local attractions, shopping centers, restaurants, parks, and schools. Whether for families or professionals, this neighborhood provides the perfect blend of amenities and lifestyle convenience. All eight units are currently occupied by reliable tenants (Six Tenants are currently under Section 8 Housing), ensuring consistent rental income for investors. Additionally, the property has been meticulously managed, guaranteeing a smooth and hassle-free ownership experience. Opportunities like this in thriving Garden Grove are rare—don't let it slip away!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$191,388
|
$35.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$191,388
|
$35.86
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$43,384
|
$8.13
|
| Net Operating Income |
$148,004
|
$27.73
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $191,388 |
| Annual Per SF | $35.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $191,388 |
| Annual Per SF | $35.86 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $43,384 |
| Annual Per SF | $8.13 |
| Net Operating Income | |
|---|---|
| Annual | $148,004 |
| Annual Per SF | $27.73 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Refrigerator
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Playground
- Gas Range
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 800 |
| 2+1 | 4 | - | 600 |
1 1
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 198-122-22 | Improvements Assessment | $638,950 (2025) |
| Land Assessment | $645,414 (2025) | Total Assessment | $1,284,364 (2025) |
PROPERTY TAXES
Parcel Number
198-122-22
Land Assessment
$645,414 (2025)
Improvements Assessment
$638,950 (2025)
Total Assessment
$1,284,364 (2025)
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12621 Morningside Ave
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