9661-9671 Maureen Dr - Apartments FOR SALE


Garden Grove, CA 92841
$4,190,000 USD
714-713-9086
9661-9671 Maureen Dr, Garden Grove, CA for Sale
$4,190,000 USD
Apartments - FOR SALE
1/14
null | 4.81% Cap Rate

9661-9671 Maureen Dr
Garden Grove, CA 92841


HIGHLIGHTS

  • Features Exclusively Two-Bedroom Floor Plans
  • 5 Units Eligible for Increases by April 1st, 2025 with Another 6 Units Eligible by December 1st, 2025
  • 8 Units Feature Highly Desirable Single-Story Construction | Several Units Feature Newly Installed Vinyl Plank Flooring
  • All Units Feature Dual-Pane Windows | Freshly Painted Exterior Including Garages
  • Spacious 0.42-Acre Lot with Ample Garage & Surface Parking
  • On-Site Laundry Facility

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 9661 and 9671 Maureen Drive, a 12-unit multifamily investment property located in Garden Grove, California. Situated on an oversized 0.42-acre lot, this garden-style property showcases predominantly single-story construction and offers a highly desirable mix consisting exclusively of two-bedroom floor plans. Amenities at 9661 and 9671 Maureen Drive include an on-site laundry facility as well as ample garage and surface parking. Situated just South of Katella Avenue, 9661 and 9671 Maureen Drive places residents in close proximity of a plethora of shops, restaurants, and world-famous entertainment destinations. The property offers walkable access to a Crunch Fitness and Harvest Fresh Markets anchored retail center and is just a short drive from the Promenade at Garden Grove, a major retail center anchored by Walmart, Aldi, Regal Cinema and more. Additionally, the property is just 2.5 Miles from Disneyland, one of Southern California’s most popular destinations and a major employer for the region. The Garden Grove submarket is among the strongest performing areas in metro Orange County, with an average occupancy of 97 percent (Q1 2024) and a projected average effective rent increase of 4.5 percent (year-over-year through 2028), demonstrating the strong demand for rental housing. Garden Grove’s central location, strong economic growth, and unmatched local attractions have made it one of Southern California’s most desirable and versatile markets. Given the strength of the overall apartment market within the city of Garden Grove, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 9661 and 9671 Maureen Drive. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$4,190,000 USD

PRICE/SF

$503 USD /SF

# OF UNITS

12

PRICE/UNIT

$349,167

CAP RATE

4.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

R3, Garden Grove

APN/PARCEL ID

132-101-14

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.