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12581 Kensington Lane

Garden Grove, CA 92840
  • $2,499,500
  • STATUS: Active
  • ON SITE: 17 Days
  • ID#: NP24026154
UPDATED: 40 min ago
$2,499,500
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Randall Mycorn of R L M Equities (949-573-5309)


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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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T14:35:39.143. 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 deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
www.rusnellproperties.com/homes/147300883
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12581 Kensington Lane Garden Grove, CA 92840

  • Price: $2,499,500
  • Status: Active
  • On Site: 17 Days
  • Updated: 40 min ago
  • ID#: NP24026154
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1960
Built
Neighborhood:
Kensington Lane
County:
Orange
Area:
66 - N of Blsa, S of GGrv, E of Brookhrst, W of Ha
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.
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 9 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 5.52 Common Interest None Community Features Suburban Electric Expense 500 Fuel Expense 1000 Garage YN No Gross Income 4800 Gross Scheduled Income 189600 Insurance Expense 3072 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to New Loan1031 Exchange Net Operating Income 137739 New Construction YN No New Taxes Expense 31439 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Operating Expense 46317 Other Expense 1500 Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 1885 Vacancy Allowance Rate 3 Water Sewer Expense 2521 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-02-23T14:35:39.143. 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 deemed reliable but is not guaranteed accurate by the MLS or Rusnell Real Estate Group | Vista Sotheby's. Licensed in the State of California, USA.
 
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Rusnell Real Estate Group | Vista Sotheby's
16 Malaga Cove Plaza
Palos Verdes Estates CA, 90274
Listing Agent(s): Randall Mycorn of R L M Equities (949-573-5309)