12292 Ranchero Avenue 4, Garden Grove, California 92843, Garden Grove, 92843 - bed, bath

12292 Ranchero Avenue 4, Garden Grove, California 92843 home-pic-0
ACTIVE$1,999,000
12292 Ranchero Avenue 4, Garden Grove, California 92843
0Bed
0Bath
4,492Sqft
9,148Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Strong Investment Potential: This quadruplex offers significant income-producing potential with current rents below market value, a community laundry room for extra income, and the flexibility to live in one unit while renting out the others.
Top Cons:
Age of Core Structure: Built in 1963, while many cosmetic and functional updates have been made, the underlying structure and potentially some original systems (e.g., electrical, foundation) are over 60 years old, which may require future attention.

Compared to the nearby listings

Price:$2.00M vs avg $1.79M (+$204,000)67%
Size:4,492 sqft vs avg 3,934 sqft67%
Price/sqft:$445 vs avg $44550%

More Insights

Built in 1963 (62 years old).
Condition: Despite being built in 1963, this property has undergone extensive and recent renovations, including new kitchen quartz countertops, fully remodeled bathrooms, fresh laminate flooring in most areas, updated plumbing, dual-pane windows, a new water heater, and a new roof in most areas. These updates make the units move-in ready with no immediate renovations required. While the underlying structure is older and some renovations are noted as 'in most areas,' the comprehensive nature of the updates elevates the property's condition significantly beyond 'Fair' and positions it as a well-maintained and modernized investment.
Year Built
1963
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$445
HOA
-
Days on market
-
Sold On
-
MLS number
PW25036773
Home ConditionGood
Features
Patio
View-

About this home

Great Investment Opportunity! This corner lot 4 unit property is located in the highly sought-after city of Garden Grove, offering a rare chance to own a one of a kind income producing property in a prime location. The property boasts amazing curb appeal and features an attached 4 car garage with additional space to build extra outdoor parking, already approved by the city. The property consists of a mix of unit types. One of the units is a single level 2 bedroom, 2 bath with its own private patio. Inside, you'll find a spacious open floor plan, including a cozy living room with a fireplace. The kitchen is nicely sized with quartz countertops, a breakfast counter, and a dining area that opens to the yard. One of the bedrooms has an attached bath, while the secondary bedroom is conveniently located near a full hallway bath. The other three units are two story and each offers 2 bedrooms and 1.5 baths, along with a private patio. The main level of each features an open floor plan with a spacious living room that leads to the private patio, a breakfast nook, and a kitchen with quartz countertops and a half bath. Upstairs, there are two generously sized bedrooms with ample closet space, and a fully remodeled hallway bath. At the rear of the property, you'll find four garage spaces, one for each unit, along with a community laundry room that provides an opportunity for extra income. This property presents a true gem and exceptional investment opportunity - live in one unit and rent out the others for maximum rental income. With current rents below market value, there's significant upside potential. Additional bonus features include fully renovated units with new kitchen countertops, fresh laminate flooring in most areas, and updated plumbing. The property also offers new exterior paint, a new roof in most areas, dual pane windows and sliding doors, a new wood fence, and a new water heater. Centrally located near shopping, parks, grocery stores, dining, entertainment, schools, and with easy access to the 22/5/57 freeways, this property is ideally situated. Don’t miss out on this once in a lifetime opportunity, this property won’t last long!

Condition Rating
Good

Despite being built in 1963, this property has undergone extensive and recent renovations, including new kitchen quartz countertops, fully remodeled bathrooms, fresh laminate flooring in most areas, updated plumbing, dual-pane windows, a new water heater, and a new roof in most areas. These updates make the units move-in ready with no immediate renovations required. While the underlying structure is older and some renovations are noted as 'in most areas,' the comprehensive nature of the updates elevates the property's condition significantly beyond 'Fair' and positions it as a well-maintained and modernized investment.
Pros & Cons

Pros

Strong Investment Potential: This quadruplex offers significant income-producing potential with current rents below market value, a community laundry room for extra income, and the flexibility to live in one unit while renting out the others.
Extensive Recent Renovations: The property has undergone substantial updates including new kitchen countertops, fresh laminate flooring in most areas, updated plumbing, new exterior paint, a new roof in most areas, dual pane windows/sliding doors, a new wood fence, and a new water heater, reducing immediate capital expenditures for a new owner.
Prime & Accessible Location: Located in the highly sought-after city of Garden Grove, the property boasts central proximity to shopping, parks, grocery stores, dining, entertainment, schools, and easy access to major freeways (22/5/57), enhancing tenant appeal.
Ample Parking & Curb Appeal: Features an attached 4-car garage (one per unit) and city-approved additional space for outdoor parking, addressing a common tenant need. The property also presents an 'amazing curb appeal'.
Diverse Unit Mix & Private Amenities: Offers a desirable mix of unit types (one 2B/2B single-level, three 2B/1.5B two-story units) and each unit includes a private patio, catering to a broader range of potential tenants.

Cons

Age of Core Structure: Built in 1963, while many cosmetic and functional updates have been made, the underlying structure and potentially some original systems (e.g., electrical, foundation) are over 60 years old, which may require future attention.
Partial Renovations Implication: The description notes 'new roof in most areas' and 'fresh laminate flooring in most areas,' suggesting that some sections of the property may not have been updated, potentially leading to future repair or renovation costs for the new owner.
Lack of Mentioned Cooling System: There is no mention of central air conditioning or any cooling system, which could be a significant drawback for tenants in California's climate and may require a future investment to install.

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