12892 Louise Street, Garden Grove, CA 92841
- $1,825,000
- Sold Price
- $1,825,000
- List Price
- $1,988,800
- Closing Date
- Nov 16, 2023
- Status
- CLOSED
- MLS#
- PW23111842
- Year Built
- 1937
- Lot Size
- 16,553
- Acres
- 0.38
- Lot Location
- Front Yard, Street Level
- Days on Market
- 112
- Property Type
- Multifamily
- Property Sub Type
- Triplex
- Stories
- One Level
Property Description
This is an amazing opportunity to own a very unique property with a great upside potential. This property is perfect for an investor looking for a solid positive return , a business owner that needs parking for vehicles as well as rental income or a owner that would live in one home and rent out the rest. This property features three detached homes as well as a three car garage. The property break down is as follows Zoning : Garden Grove Boulevard Mixed Use (GGMU) : 12892 Louise St - 2 bedrooms, office, 2 bath built in 1937 : 12902 Louise - 3 bedrooms , 2 baths built in 1950 : 12888 Louise - 3 bedrooms , 2 baths built in 1950 : Garage consisting of 3 separate stalls built 1988. The lot is over 16000 sf and can accommodate an estimated 28 cars for parking. Each home has been meticulously maintained by the same family for generations. The city of Garden Grove is currently implementing a street expansion and sidewalk installation project on the subject street. The pro forma Cap Rate for the property including possible garage rental and other income stands at 5.66 %. This is an amazing opportunity that will not last.
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Additional Information
- Appliances
- Gas Oven, Gas Range
- Pool Description
- None
- Heat
- Ductless, Heat Pump
- Cooling
- Yes
- Cooling Description
- Ductless, Heat Pump
- Roof
- Composition, Shingle
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- All Bedrooms Down
- Attached Structure
- Detached
- Number Of Units Total
- 3
- Gross Scheduled Income
- $84,000
- Operating Expense
- 9600
Listing courtesy of Listing Agent: Jennifer Tackney (TeamTackney@gmtrealestate.com) from Listing Office: GMT Real Estate.
Listing sold by Thomas Dao from Superior Real Estate Group
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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.