11761 Stuart Drive

Garden Grove, CA 92843

$3,180,000
Last Sold Price
3
Beds
10
Baths
8,598 Sq. Ft.
$370 / Sq. Ft.
8,598
Sq. Ft.
$370
per Sq. Ft.

Description

This turn-key 10 unit multifamily investment is located on Stuart Drive in the City of Garden Grove, California. The asset offers 7 - 2 Bed / 1 Bath units and 3 - 1 Bed / 1 Bath units. The building was built in 1958 and significantly remodeled in 2020. The exterior remodel includes: new windows, new garage doors, new garage door beams, new exterior paint and stucco, new interior courtyard concrete and 14ft x 18ft gazebo, new access gate, new exterior lighting, railing updated to code, new stairs,...This turn-key 10 unit multifamily investment is located on Stuart Drive in the City of Garden Grove, California. The asset offers 7 - 2 Bed / 1 Bath units and 3 - 1 Bed / 1 Bath units. The building was built in 1958 and significantly remodeled in 2020. The exterior remodel includes: new windows, new garage doors, new garage door beams, new exterior paint and stucco, new interior courtyard concrete and 14ft x 18ft gazebo, new access gate, new exterior lighting, railing updated to code, new stairs, new walkway deck coating, new landscaping, new main hot water heater, and two new washing machines. The interior remodel includes: new cabinets and countertops in all 10 units, new air conditioning units in all 10 units, new security screen doors on all 10 units, new flooring in 6 units, and new interior paint and texture in 5 units. There is an owners utility closet in the courtyard, and all four laundry machines are owned by owner (2 Washers / 2 Dryers). Tenants have garage parking and there is room to add a BBQ and benches under the gazebo in the courtyard. The property is separately metered for gas and electricity. This property is in a nice central Garden Grove location right near major retail, educational, and employment opportunities. The property is conveniently located close to CA-22 Freeway, allowing tenants to connect with the greater California region and beyond.
  1. Listed by Mark Bridge • DRE #01316702 • Brokerage DRE #01316702 • Mark Bridge, Broker

Property Details for 11761 Stuart Drive

Parking Spaces Total
11
Private Pool
No
Cooling Type
Wall/Window
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8598
Assessor Parcel Number
100-502-02

Location

Listing Courtesy of Mark Bridge, Broker, Mark Bridge, DRE #01316702

Sold By Keller Williams Realty, Steve Kwon, DRE #01453193

Add your commute
LISTING UPDATED: 06/24/2021 02:09 AM

Property Details for 11761 Stuart Drive

StatusClosed
MLS #OC21039894
Days on Market84
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size0.28 AC / 12,196 SF
CountyOrange County

Location

Listing Courtesy of Mark Bridge, Broker, Mark Bridge, DRE #01316702

Sold By Keller Williams Realty, Steve Kwon, DRE #01453193

Add your commute

Building Information for 11761 Stuart Drive

Stories2Residences-Year Built1958Building Size-Lot Size0.28 AC / 12,196 SF

Payment Calculator

$20,826 per month

30 year fixed, 7.25% Interest

Principal and Interest

$17,355

Property Taxes

$3,471

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 11761 Stuart Drive

Rental Info
Rental Info
  • Tenant Pays: Cable TV, Electricity, Gas, Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $219,600
  • Gross Scheduled Income: $219,600
  • Gross Spendable Income: $215,412
  • Vacancy Allowance: 6588
  • Gross Operating Income: $215,412
  • Net Operating Income: $149,634
  • Laundry Income: $2,400
  • Gross Multiplier: 14.57
  • Cap Rate: 4.68
  • Current Financing: None
  • Financing: Cash To New Loan
Expense Details
  • Operating Expense: $65,778
  • New Taxes Expense: $41,239
  • Gardener Expense: $1,200
  • Fuel Expense: $523
  • Pest Control Expense: $900
  • Electric Expense: $651
  • Insurance Expense: $2,937
  • Maintenance Expense: $4,628
  • Professional Management Expense: $3,600
  • Trash Expense: $3,672
  • Water Sewer Expense: $6,428
  • Total Expenses: $65,778
Tax / Assessment Info
  • Tax Tract Number: 1891
  • Tax Census Tract: 885.01
  • Tax Lot: 2
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks, Street Lights, Suburban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Laundry Equipment Own Lease: Own
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Natural Gas
  • Heat Source: Natural Gas
  • Heating: Wall Furnace, Natural Gas
Exterior Features
  • Roof: Wood
  • Other Structures: Gazebo
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 6-10 Units/Acre
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Sewer: Public Sewer
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
  • Water Source: Public
Parking Info
  • Garage Spaces: 10
  • Parking: Yes
  • Parking Garage: Assigned, Garage
  • Uncovered Spaces: 1
  • Open Other Spaces Total: 1
  • Parking Garage Spaces: 10
  • Carport Spaces: 0
  • Parking Features: Assigned, Garage
Unit Information
Unit 1
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $13,650
  • Unit Type Pro Forma: 2000
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,550
  • Unit Type Total Rent: $4,650
  • Unit Type Pro Forma: 1600
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 10
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 11
  • Number Of Separate Gas Meters: 11
  • Number Of Separate Water Meters: 1
  • Number With Range: 10
  • Number With Disposal: 10
  • Number Wall AC: 10

Property History for 11761 Stuart Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 11761 Stuart Drive

Taxable ValueLand$2,952,438Additions$291,162Total$3,243,600
Tax Record2023$41,650 ($3,471 / month)
Home Facts
Total Finished SqFt8,599 SqFtAbove Grade Finished SqFt8,599 SqFtStories2Lot Size12,001 SqFtStyleMulti-Family Res (5+ Units)Year Built1958CountyORANGEAPN100-502-02

Schools near 11761 Stuart Drive

This home is within Garden Grove Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Ocia A. Peters Elementary School
PublicK to 6

Izaak Walton Intermediate School
Public7 to 8

Santiago High School
Public9 to 12

Marie L. Hare High School
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mark Bridge, Broker, Mark Bridge, DRE #01316702

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.