Log In/Sign Up
Your email has been sent.
9661-9671 Maureen Dr 12 Unit Apartment Building $4,725,000 ($393,750/Unit) 5% Cap Rate Garden Grove, CA 92841
Investment Highlights
- Turnkey 12-unit multifamily asset with extensive 2025 renovations
- Three vacant units providing immediate lease-up at market rents
- Many units offer no neighbors above or below, enhancing privacy and livability
- All 2 Bed/1 Bath units offering broad and consistent rental appeal
- Desirable layout with a mix of single-story units and a two-story building with garages
- Garages (12 spaces) and surface (4 spaces) on a spacious 0.44-acre parcel
Executive Summary
The Leeson Group is pleased to present the opportunity to acquire 9661 - 9671 Maureen Drive, a heavily renovated 12-unit multifamily community located in Garden Grove, California.
Constructed in 1958 and extensively renovated in 2025, the property features a desirable unit mix of 12 two-bed/one-bath units across a combination of single-story buildings and a two-story structure with ground-level garages, offering units with no neighbors above or below.
Ownership has completed a comprehensive renovation program across all units, with improvements ranging from upgraded flooring, fixtures, and fresh interior paint to fully renovated unit interiors. Multiple units have already achieved market-leading rents for comparable properties in the area, demonstrating strong in-place income.
Currently, three units are vacant, providing immediate upside for a new owner to lease at market rents from day one or implement additional upgrades to further enhance rental income.
The property sits on a 0.44-acre parcel and offers a strong parking ratio with 12 single-car garages and 4 surface spaces, along with on-site laundry, security doors, and a central courtyard that supports tenant appeal and retention.
9661 - 9671 Maureen Drive represents a compelling opportunity to acquire a renovated asset with proven rental performance and immediate income upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Constructed in 1958 and extensively renovated in 2025, the property features a desirable unit mix of 12 two-bed/one-bath units across a combination of single-story buildings and a two-story structure with ground-level garages, offering units with no neighbors above or below.
Ownership has completed a comprehensive renovation program across all units, with improvements ranging from upgraded flooring, fixtures, and fresh interior paint to fully renovated unit interiors. Multiple units have already achieved market-leading rents for comparable properties in the area, demonstrating strong in-place income.
Currently, three units are vacant, providing immediate upside for a new owner to lease at market rents from day one or implement additional upgrades to further enhance rental income.
The property sits on a 0.44-acre parcel and offers a strong parking ratio with 12 single-car garages and 4 surface spaces, along with on-site laundry, security doors, and a central courtyard that supports tenant appeal and retention.
9661 - 9671 Maureen Drive represents a compelling opportunity to acquire a renovated asset with proven rental performance and immediate income upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$359,100
|
$43.11
|
| Other Income |
$3,250
|
$0.39
|
| Vacancy Loss |
$10,773
|
$1.29
|
| Effective Gross Income |
$351,577
|
$42.21
|
| Taxes |
$55,279
|
$6.64
|
| Operating Expenses |
$60,255
|
$7.23
|
| Total Expenses |
$115,534
|
$13.87
|
| Net Operating Income |
$236,043
|
$28.34
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $359,100 |
| Annual Per SF | $43.11 |
| Other Income | |
|---|---|
| Annual | $3,250 |
| Annual Per SF | $0.39 |
| Vacancy Loss | |
|---|---|
| Annual | $10,773 |
| Annual Per SF | $1.29 |
| Effective Gross Income | |
|---|---|
| Annual | $351,577 |
| Annual Per SF | $42.21 |
| Taxes | |
|---|---|
| Annual | $55,279 |
| Annual Per SF | $6.64 |
| Operating Expenses | |
|---|---|
| Annual | $60,255 |
| Annual Per SF | $7.23 |
| Total Expenses | |
|---|---|
| Annual | $115,534 |
| Annual Per SF | $13.87 |
| Net Operating Income | |
|---|---|
| Annual | $236,043 |
| Annual Per SF | $28.34 |
Property Facts
| Price | $4,725,000 | Apartment Style | Garden |
| Price Per Unit | $393,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 5% | Building Size | 8,329 SF |
| Gross Rent Multiplier | 13.04 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 1.92/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3, Garden Grove - Multiple Family Residential | ||
| Price | $4,725,000 |
| Price Per Unit | $393,750 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.04 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 8,329 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Garden Grove - Multiple Family Residential |
Amenities
Unit Amenities
- Double Pane Windows
- Vinyl Flooring
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 693 - 696 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 132-101-14 | Total Assessment | $3,652,776 (2025) |
| Land Assessment | $3,280,940 (2025) | Annual Taxes | $55,279 ($6.64/SF) |
| Improvements Assessment | $371,836 (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
132-101-14
Land Assessment
$3,280,940 (2025)
Improvements Assessment
$371,836 (2025)
Total Assessment
$3,652,776 (2025)
Annual Taxes
$55,279 ($6.64/SF)
Tax Year
2026 Payable 2026
1 of 19
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
9661-9671 Maureen Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.