12702 Morningside Ave - Apartments FOR SALE


Garden Grove, CA 92843
$2,700,000 USD
949-681-8388
12702 Morningside Ave, Garden Grove, CA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/13
null | 5.13% Cap Rate

12702 Morningside Ave
Garden Grove, CA 92843


HIGHLIGHTS

  • Extensive interior and exterior renovations in 2022-2023, featuring on-site laundry & covered parking, and new separate electric meters & box
  • Interior renovations include new flooring, quartz countertops, refaced cabinets, updated lighting, new kitchen & bath sinks, vanities, and paint
  • Exterior renovations include new stucco & paint, new asphalt, double-pane vinyl windows, and upgraded wall air conditioning
  • Prime location between 22 & 5 Freeways, located next to Northgate Market Shopping Center, and Intersection of Harbor Blvd & Westminster Ave

OVERVIEW

Mark Bridge at Matthews Real Estate Investment Services™ is proud to present 12702 Morningside Ave in Garden Grove, CA. This offering provides investors with the opportunity to acquire a well-located, recently renovated, turnkey property with strong building and curb appeal. Positioned next to Northgate Market Shopping Center and near the busy Westminster Ave and Harbor Blvd intersection, the property offers convenient access to the 22 and 5 Freeways. Built in 1961, it underwent significant interior and exterior renovations in 2022-2023. The two-story garden-style walk-up features a slightly pitched roof, an on-site laundry room, covered parking for tenants, and recently separate metering for electricity. Each unit has been updated with new flooring, quartz countertops, refaced cabinets, upgraded lighting, new kitchen and bathroom sinks, modern bathroom vanities, new stovetop ovens and hoods, and fresh paint. The exterior has also seen substantial upgrades, including new stucco and paint, newly paved asphalt, double-pane vinyl windows, and wall air conditioning. Centrally located between the 22 and 5 Freeways, the property provides easy access to all of Orange County and is near key destinations such as Main Place Mall, The Outlets at Orange, Disneyland Resort, Disney California Adventure Park, Anaheim Marketplace, and Downtown Santa Ana. Additionally, it is less than a mile from major retail centers and employment hubs, making it an attractive investment opportunity. Broker of Record -David Harrington - License No. 02168060 (CA)

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$506 USD /SF

# OF UNITS

8

PRICE/UNIT

$337,500

CAP RATE

5.13%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

R3

APN/PARCEL ID

198-123-15

ASK ABOUT THIS PROPERTY

Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

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Mark BridgeThe Bridge Multifamily Team at MatthewsMore Info
949-681-8388

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