9252 Garden Grove Boulevard # 1, Garden Grove
Garden Grove Home Sale
This value add property in the heart of Garden Grove is ready for an owner to properly manage as the tenant mix can be improved and rents are under market. The property consists of 4 buildings and tenants totaling 21,368 SF on a large 1.87 acre lot which, potentially, allows for development opportunity. There are 3 restaurant/café tenants that drive traffic to the property. There is great upside potential with increased rent and CAM reimbursement as the tenants were mostly leased up during the Pandemic. Property is with some tenants on month to month leases. Currently, there is 1 vacancy and income will improve when that unit is leased. Cap Rate: 5.77% (as-is) 6.91% (proforma) Gross Scheduled Income: $628,793 ($745,1036 proforma) per year Price/SF: $368.16s Owner is in process of improving the property including aesthetic upgrades, increasing income, and expense reimbursement so that the financials will noticeably improve over time. See offering memorandum for more information. Contact listing agent for the most up to date information.
Property Details
Additional Information
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- City:
- Garden Grove
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- County:
- Orange
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- Zip:
- 92844
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- MLS® #:
- CV23176589
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- Lot Size:
- 1.87
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- HOA Dues:
- $
Price Change History for 9252 Garden Grove Boulevard # 1, Garden Grove, (MLS® #CV23176589)
| Date | Details | Price | Change |
|---|---|---|---|
| Closed (from Active) | – | – | |
| Price Reduced (from $7,950,000) | $7,850,000 | $100,000 (1.26%) |
Based on information from California Regional Multiple Listing Service, Inc. as of July 26th, 2024 at 8:10pm PDT. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.