$2,700,000 Price Analysis    ♡   Garden Grove, CA 92843 12 bed 8 bath 5,340 SqFt ($505/SqFt) 0.24 acre lot. Built 1961 Listed 2024-02-23, Taxes $4,346 | Ⓧ USDA Ineligible due to price & location near Garden Grove |
This well-located
Recently renovated, turnkey eight-un it investment has immense building and curb appeal. The Morningside Apartments are located in Garden Grove next to a Northgate Market Shopping Center, a bustling Westminster Ave and Harbor Blvd intersection and in between the 22 and 5 Freeways for easy access to greater Orange County. Built in 1961, the property had significant interior and exterior renovations in 2022-2023. The property is a two-story garden-style walk-up with a slightly pitched roof. There is an on-site laundry room and covered parking for tenants.
The building was recently separately metered for electricity as well. Each of the units have had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods and new paint. The exterior also had a recent significant renovation completed, including new stucco and paint, new paved asphalt, new double-pane vinyl windows and new wall air conditioning. Listing Agent has an interest in the property. These 8 units are centrally located close to Main Place Mall, The Outlets at Orange, Disneyland Resort, Disney Clifornia Adventure Park, Anaheim Marketplace and Downtown Santa Ana. The property is less than a mile from many major retail centers and employment opportunities.
Presented by Mark Bridge at
Mark Bridge, Broker.
Property MLS #OC24036686 from CRMLS
Window Features: Double Pane Windows
Heating Features: Wall Furnace
Heating: Yes
Garage Spaces: 1
Parking Features: Parking YN: Yes, Parking Features: Assigned, Garage
Parking Total: 11
Lot Size Acres: 0.24
Lot Size Source: Assessor
Lot Size Square Feet: 10454
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Unit-2 Garage Spaces: 1
Gardener Expense: 1800.00
Maintenance Expense: 4000.00
Vacancy Allowance: 6084
County: Orange
Cap Rate: 5.13
Other Expense: 3718.00
Source Property Type: Residential Income
Insurance Expense: 3959.00
Area: 70 - Santa Ana North of First
Source Neighborhood: Other (OTHR)
New Taxes Expense: 31860.00
Number of Separate Electric Meters: 9
Number of Separate Gas Meters: 1
Number of Separate Water Meters: 1
Parcel Number: 19812315
Pest Control Expense: 600.00
Postal Code Plus 4: 4538
Subdivision: Other (OTHR)
Trash Expense: 3996.00
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $131,968 + $46,104 $178,072 | $4,346 |
| 2021 | $129,381 + $45,200 $174,581 | $4,291 |
| 2020 | $128,055 + $44,736 $172,791 | $4,243 |
| 2019 | $125,545 + $43,858 $169,403 | $4,213 |
| 2018 | $123,084 + $42,998 $166,082 | $4,138 |
| 2017 | $120,671 + $42,155 $162,826 | $4,092 |
| 2016 | $118,305 + $41,329 $159,634 | $3,966 |
| 2015 | $116,528 + $40,709 $157,237 | $3,911 |
| 2014 | $114,246 + $39,911 $154,157 | $3,830 |
| 2013 | $113,730 + $39,731 $153,461 | $3,743 |
| 2012 | $111,500 + $38,952 $150,452 | $3,621 |
| 2011 | $109,314 + $38,188 $147,502 | $3,410 |
| 2010 | $108,498 + $37,902 $146,400 | $3,281 |
| 2009 | $108,756 + $37,993 $146,749 | $3,052 |
| 2008 | $106,624 + $37,248 $143,872 | $2,902 |
| 2007 | $104,534 + $36,517 $141,051 | $2,769 |
$2,700,000
CRMLS
Price Changed 2024-03-21
$2,760,000
CRMLS
Price Changed 2024-02-29
$2,810,000
CRMLS
Listed 2024-02-23
$2,840,000
CRMLS
Listing removed 2023-08-25
$0
CRMLS
Price Changed 2023-07-18
$2,760,000
CRMLS
Listed 2023-06-27
$2,800,000
CRMLS
Sold 2022-08-23
$2,160,000
CRMLS
Sold 1976-12-15
$100,000
Public Record
Year Built: 1961
Building Features: 1
Common Walls: 1 Common Wall
Entry Level: 1
Entry Location: Front
Property Age: 63
Property Attached: Yes
Roof: Composition
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Assessor
Sewer: Sewer: Public Sewer, Water Sewer Expense: 3792.00
Cable Connected
Electricity Connected
Natural Gas Connected
Phone Connected
Sewer Connected
Water Connected
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.