
Garden Grove, California 92841
Analysis of 12221 Peacock Court, Garden Grove, California 92841 is currently available with a list price of $2,960,000. The property maintains a Good Condition Rating (78/100), reflecting solid structural condition with well-maintained systems. The property presents an attractive opportunity for buyers seeking a move-in ready home. Located in a high-demand neighborhood within the Garden Grove Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is move-in ready.
Although originally built in 1961, the property is in well-maintained condition with significant recent upgrades. It features brand-new dual-pane vinyl windows throughout, and 30% of the units underwent a comprehensive renovation in 2026 including modern kitchens, updated bathrooms, and new flooring. The turnkey status and recent improvements elevate it from 'Fair' to 'Good', though the age of the unrenovated units and overall structure prevents an 'Excellent' rating.
The property includes verbal city approval for an 8-unit ADU structure within the existing parking lot, offering a rare opportunity to nearly double the unit count and significantly increase asset value.
With a projected 25% upside in current rental income, investors have a clear path to increasing cash flow and improving the capitalization rate through proactive management.
The asset features brand-new dual-pane vinyl windows throughout and three units fully renovated in 2026, reducing immediate deferred maintenance and enhancing tenant retention.
The property was recently sold within the past year on 2026-02-23. The sold price is $2,310,000.00.
The property consists exclusively of studios and one-bedroom units, which may lead to higher tenant turnover compared to larger, family-oriented multi-bedroom configurations.
Utilizing the current parking lot for the proposed 8-unit ADU development will significantly reduce on-site parking, potentially creating challenges for tenants in a car-dependent Southern California submarket.
Rare Investment Opportunity in Garden Grove! Situated on a prime corner lot in a low-density residential neighborhood, this 10-unit multifamily asset features exceptional curb appeal and a strong mix of studios and one-bedroom units. The property is in exceptional condition, boasting brand-new dual-pane vinyl windows across all units, with three units comprehensively renovated in 2026 to include new flooring, scraped ceilings, and updated kitchens and bathrooms. Investors will benefit from immediate stability alongside massive value-add potential, including an immediate 25% upside in current rental income. Additionally, the city has verbally approved the development of an 8-unit ADU structure within the current parking lot area, offering a clear path to adding significant value. Located in a highly desirable, high-demand rental submarket, tenants are just minutes away from popular local dining, shopping centers like the Outlets at Orange, and convenient commuter access to the 22 Freeway. Do not miss out on this turnkey Orange County asset with unmatched equity-building potential!
No exterior & parking available.
No sensitive facilities data found.
Jun 9, 2026
$2,960,000
Initial Listing
Feb 23, 2026
$2,310,000
Public Record