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10122 Larson Avenue, Garden Grove, California 92843, Garden Grove, 92843 - 6 bed, 4 bath

10122 Larson Avenue, Garden Grove, California 92843 home-pic-0
ACTIVE$1,495,000
10122 Larson Avenue, Garden Grove, California 92843
6Beds
4Baths
2,200Sqft
6,950Lot

Price Vs. Estimate

The estimated value ($1,319,982.85) is $175,017.15 (11%) lower than the list price ($1,495,000). This property may be overpriced.

Key pros and cons

Top Pros:
Income-Generating Potential: The property features two distinct homes on one lot, offering substantial combined rental income of $7,500/month, making it ideal for investors, 1031 exchange buyers, or owner-occupiers seeking significant rental offset.
Top Cons:
High Entry Price Point: The asking price of $1,495,000 is a substantial investment, which may limit the pool of potential buyers or impact the cap rate for investors seeking higher initial returns.

Compared to the nearby listings

Price:$1.50M vs avg $994.0K (+$501,000)98%
Size:2,200 sqft vs avg 1,315 sqft93%
Price/sqft:$680 vs avg $70745%

More Insights

Built in 2025 (0 years old).
Condition: This property features two homes on one lot. Unit 1 is a brand-new construction (built in 2025) with modern finishes, including light wood-look vinyl flooring, light grey cabinetry, quartz countertops, and new appliances. Unit 2 is a recently remodeled home with dark wood shaker cabinets, quartz countertops, and tile flooring. Both units boast central A/C & Heat, recessed lighting, and updated bathrooms with modern vanities and subway tile. The overall condition, as described and depicted in the images, indicates virtually new components and extensive, high-quality renovations, aligning perfectly with the 'Excellent' criteria for a property built within 10 years or extensively renovated within 5 years.
Year Built
2025
Close
-
List price
$1.5M
Original List price
$1.5M
Price/Sqft
$680
HOA
-
Days on market
-
Sold On
-
MLS number
OC25166219
Home ConditionExcellent
Features
ViewNeighborhood

About this home

Incredible 2 HOMES ON ONE LOT for $747,500 Each, In the heart of Garden Grove. Don’t miss this opportunity to own a highly desirable property featuring a remodeled home and a brand-new construction Detached Single Family Home — perfect for investors, 1031 exchange buyers, or owner-occupiers seeking rental income. Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3BED / 2BATH, approx. 1,000 SF, Central A/C & Heat, private entrance, 2-car parking on driveway. Market Rent: $3,400/month. Unit 2 – Remodeled Single Family Home - Spacious 3BED / 2BATH approx. 1,200 SF with garage, and driveway parking, Central A/C & Heat. Current Rent $4,100/month. Total Rental Income: $7,500/month. Separate Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl & tile flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups. With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Garden Grove neighborhood close to schools, shopping, dining, and freeway access.

Condition Rating
Excellent
This property features two homes on one lot. Unit 1 is a brand-new construction (built in 2025) with modern finishes, including light wood-look vinyl flooring, light grey cabinetry, quartz countertops, and new appliances. Unit 2 is a recently remodeled home with dark wood shaker cabinets, quartz countertops, and tile flooring. Both units boast central A/C & Heat, recessed lighting, and updated bathrooms with modern vanities and subway tile. The overall condition, as described and depicted in the images, indicates virtually new components and extensive, high-quality renovations, aligning perfectly with the 'Excellent' criteria for a property built within 10 years or extensively renovated within 5 years.
Pros & Cons

Pros

Income-Generating Potential: The property features two distinct homes on one lot, offering substantial combined rental income of $7,500/month, making it ideal for investors, 1031 exchange buyers, or owner-occupiers seeking significant rental offset.
New Construction & Recent Remodel: One unit is a brand-new 2025 build, and the other is a recently remodeled home, ensuring modern aesthetics, updated systems, and significantly reduced immediate maintenance costs for both units.
Separate Utility Metering: Both units have separate gas and electricity meters, simplifying tenant billing and maximizing the landlord's net operating income by transferring utility responsibilities to the tenants.
Modern Interior Finishes & Amenities: Each unit boasts contemporary features including open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, central A/C & Heat, recessed lighting, and in-unit washer/dryer hookups, enhancing tenant appeal.
Low Maintenance & Turnkey Condition: Described as a 'low-maintenance property for the next 10+ years' due to quality renovations and new construction, it offers a truly turnkey investment or move-in ready option for owner-occupiers.

Cons

High Entry Price Point: The asking price of $1,495,000 is a substantial investment, which may limit the pool of potential buyers or impact the cap rate for investors seeking higher initial returns.
Limited Individual Outdoor Space: While the lot size is 6950 sqft, accommodating two separate homes likely results in smaller, less private outdoor areas for each unit compared to traditional single-family homes, which could be a drawback for some.
Potential for Owner-Occupier Privacy Trade-offs: For an owner-occupier living in one unit, the proximity of the second rental unit on the same lot might present privacy considerations compared to a standalone single-family home with a fully private yard.

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