12581 Kensington Lane, Garden Grove, CA 92840
- $2,408,000
- Sold Price
- $2,408,000
- List Price
- $2,499,500
- Closing Date
- Apr 29, 2024
- Status
- CLOSED
- MLS#
- NP24026154
- Year Built
- 1960
- Lot Size
- 9,583
- Acres
- 0.22
- Lot Location
- 6-10 Units/Acre
- Days on Market
- 21
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
- Neighborhood
- , Kensington Lane
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.
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $189,600
- Operating Expense
- 46317
Listing courtesy of Listing Agent: Randall Mycorn (randall@rlmequities.com) from Listing Office: R L M Equities.
Listing sold by Randall Mycorn from R L M Equities
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.