10622 Tibbs Circle

    Garden Grove, CA 92840
    • $4,250,000
    • STATUS: Active
    • ON SITE: 173 days
    • ID#: OC18264556
    $4,250,000
    • 0
      BEDS
    • 0.45
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 12,275
      SQFT
    • $346
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    This apartment is in a very high demand rental area with 0% vacancy. all Buildings have been Re-roof & Re-Pipes. Each unit now has its own shut off values for future maintenance. Rental income is well below market rent. 2 Bed / 1 Bath rental market price should be Minimum at $1400 - $1,500. There are lots of room on rental income, which will bring your cap ratio much higher.

    Monthly Payment Calculator



    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-24T00:34:36.537. 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. Licensed in the State of California, USA.
    www.bestlahomefinder.com/homes/89087261

    10622 Tibbs Circle Garden Grove, CA 92840

    • Price: $4,250,000
    • Status: Active
    • ID#: OC18264556
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.45
    Acres
    12,275
    SQFT
    $346
    $/SQFT
    1960
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    62 - Garden Grove N of Chapman, W of Euclid
    Property Description
    This apartment is in a very high demand rental area with 0% vacancy. all Buildings have been Re-roof & Re-Pipes. Each unit now has its own shut off values for future maintenance. Rental income is well below market rent. 2 Bed / 1 Bath rental market price should be Minimum at $1400 - $1,500. There are lots of room on rental income, which will bring your cap ratio much higher.
    Exterior Features

    Entry Location Ground LevelTop Level Garage Spaces 16.00 Lot Features Garden Lot Size Source Assessor Lot Size Units Square Feet Parking Features Assigned Parking Total 16.00 Parking YN Yes Pool Features CommunityIn Ground Pool Private YN No Property Attached YN Yes Road Frontage Type AlleyCity Street Spa Features None Spa YN No View None View YN No

    Interior Features

    Average Studio Area 650 Average Studio Area Units Square Feet Average1 Bed Area 700 Average1 Bed Area Units Square Feet Average2 Bed Area 800 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features Community Levels Two

    Property Features

    Additional Parcels YN No Association Fee 0.00 Association YN No Building Area Units Square Feet Cap Rate 3.20 Community Features Street LightsUrban Country Us Electric Expense 3734.00 Elevation Units Feet Fuel Expense 7486.00 Gardener Expense 1800.00 Gross Income 237910.00 Gross Operating Income 238360.00 Gross Scheduled Income 238360.00 Improvements Amount 6000 Insurance Expense 5944.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 1000.00 Laundry YN Yes Licenses Expense 229.00 Maintenance Expense 19251.00 Maintenance Percent 8.09 Net Operating Income 145702.00 New Construction YN No New Taxes Expense 27379.00 Number Of Separate Electric Meters 17 Number Of Separate Gas Meters 1 Number Of Separate Water Meters 1 Number Of Units Leased 17 Operating Expense 92207.00 Operating Expense Percent 38.00 Pool Expense 1260.00 Professional Management Expense 9600.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Subdivision Name Other Other Tenant Pays Cable TvElectricity Total Actual Rent 19905.00 Total Expenses 92207.00 Trash Expense 9936.00 Utilities Sewer Available Vacancy Allowance 0 Vacancy Allowance Rate 0.00 Water Sewer Expense 4298.00 Water Source Public Year Built Source Assessor

    Listing provided courtesy of Long Nguyen of Advance Estate Realty


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-04-24T00:34:36.537. 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. Licensed in the State of California, USA.
     
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