12341 Lewis St - Apartments FOR SALE


Garden Grove, CA 92840
$14,000,000 USD
714-713-9086
12341 Lewis St, Garden Grove, CA for Sale
$14,000,000 USD
Apartments - FOR SALE
1/13
null | 4.1% Cap Rate

12341 Lewis St
Garden Grove, CA 92840


HIGHLIGHTS

  • Diverse Mix of One & Two-Bedroom Units of which 28 Units Feature Single-Story Construction & 8 Units Feature Two-Story Townhome Construction
  • Amenities Including Gated Access, Ample Carport & Surface Parking (72 Total Spaces), a Swimming Pool with a Pool-Side Pavilion, & On-Site Laundry
  • Oversized 2.42-Acre Parcel with R-3 Zoning Provides the Opportunity for the Construction of Accessory Dwelling Units
  • Optimal Garden Grove Location Placing Residents in Close Proximity of Major Employers & Employment Hubs Including The Outlets at Orange & Disneyland

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Garden Walk, a one of a kind 36-unit multifamily investment opportunity located in Garden Grove, CA. Located on the border of Anaheim, Garden Grove, and Orange, Garden Walk is uniquely placed in-close proximity of Orange County’s top destinations and major employment hubs including Disneyland, the Anaheim Convention Center, Angel Stadium, the Honda Center, The Outlets at Orange, and UCI Medical Center, all of which are situated within 2 miles of the property. Furthermore, Garden Walk’s proximity to the Anaheim Regional Transportation Intermodal Center (ARTIC) and the 5, 57, and 22 Interchange provides residents with convenient access throughout Southern California. Garden Walk offers an attractive mix of one and two-bedroom units, of which 28 feature single-story construction and 8 feature two-story townhome construction. This diverse mix of floor plans helps Garden Walk appeal to a broad renter pool. The property, built in 1963 on a spacious 2.42-acre parcel offers a new owner the unique opportunity to take advantage of existing open and amenity space to construct accessory dwelling units (ADU), substantially increasing cashflow. Garden Walk features desirable amenities including gated access, a swimming pool with a spacious pool-side pavilion, two on-site laundry facilities, and ample carport and surface parking spaces. Additionally, each unit at the property features a spacious private patio, an in-demand amenity for rental units. In summary, Garden Walk’s fantastic location offers residents access to a variety of employment, transportation, and retail amenities, all of which will attract a diverse renter pool. With substantial upside and strong rental metrics, Garden Walk represents an attractive opportunity for a new owner seeking well located units. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$14,000,000 USD

PRICE/SF

$407 USD /SF

# OF UNITS

36

PRICE/UNIT

$388,889

CAP RATE

4.1%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Walk Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

72

LAND DETAILS

LAND ACRES

2.42 AC

LAND SF

105,415 SF

ZONING

R3

APN/PARCEL ID

231-201-03

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.