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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$1,950,000$4,492/sqft
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 Opportunity: This is a corner lot 4-unit property explicitly marketed as a 'Great Investment Opportunity' with 'income producing' potential, allowing an owner to live in one unit and rent out the others for maximum income.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =9148, other record lot size in square feet = 9001.

Compared to the nearby listings

Price:$1.95M vs avg $1.61M (+$340,000)50%
Size:4,492 sqft vs avg 3,742 sqft50%
Price/sqft:$434 vs avg $42950%

More Insights

Built in 1963 (63 years old).
Condition: The property, built in 1963, has undergone extensive recent renovations, including new kitchen quartz countertops, fresh laminate flooring in most areas, updated plumbing, new exterior paint, a new roof in most areas, dual-pane windows, a new fence, and a new water heater. The bathrooms have also seen updates, with at least one described as 'fully remodeled.' While these updates make the units move-in ready and address many major components, the presence of window AC units instead of central air, and some older elements like the kitchen cabinets and certain bathroom fixtures, indicate that it's not a complete, high-end renovation to 'virtually new' standards. Therefore, it fits the 'Good' category, being extensively renovated within the last 5-15 years and well-maintained, but not 'Excellent' due to some remaining older components and lack of central cooling.
Year Built
1963
Close
-
List price
$1.95M
Original List price
$1.95M
Price/Sqft
$434
HOA
-
Days on market
-
Sold On
-
MLS number
PW26011614
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!

J
Joseph Lee
Listing Agent
Condition Rating
Good
The property, built in 1963, has undergone extensive recent renovations, including new kitchen quartz countertops, fresh laminate flooring in most areas, updated plumbing, new exterior paint, a new roof in most areas, dual-pane windows, a new fence, and a new water heater. The bathrooms have also seen updates, with at least one described as 'fully remodeled.' While these updates make the units move-in ready and address many major components, the presence of window AC units instead of central air, and some older elements like the kitchen cabinets and certain bathroom fixtures, indicate that it's not a complete, high-end renovation to 'virtually new' standards. Therefore, it fits the 'Good' category, being extensively renovated within the last 5-15 years and well-maintained, but not 'Excellent' due to some remaining older components and lack of central cooling.
Pros & Cons

Pros

Strong Investment Opportunity: This is a corner lot 4-unit property explicitly marketed as a 'Great Investment Opportunity' with 'income producing' potential, allowing an owner to live in one unit and rent out the others for maximum income.
Prime Location & Accessibility: Located in the 'highly sought-after city of Garden Grove' with central proximity to shopping, parks, grocery stores, dining, entertainment, schools, and easy access to major freeways (22/5/57).
Extensive Recent Renovations: Units are 'fully renovated' with 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.
Significant Rental Upside Potential: Current rents are 'below market value,' indicating substantial upside potential for increased rental income for the new owner.
Ample Parking & Additional Income: Features an attached 4-car garage with city-approved space for additional outdoor parking, plus a community laundry room providing an opportunity for extra income.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =9148, other record lot size in square feet = 9001.
Lack of Central Air Conditioning: The property description does not mention any cooling system, which could be a significant drawback for tenant comfort and a potential future expense in the California climate.
Partial Renovations Implied: Phrases like 'new roof in most areas' and 'fresh laminate flooring in most areas' suggest that not all parts of the property or units have received the same level of renovation, potentially leading to inconsistencies or future maintenance needs in unaddressed sections.
Age of Underlying Structure: Built in 1963, the property's core structure is over 60 years old. While many cosmetic and system updates have been made, the age could still present unforeseen maintenance challenges or require more extensive capital expenditures in the long term.
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