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12292 Ranchero Avenue 4, Garden Grove, California 92843, Garden Grove, 92843 - 8 bed, 8 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
8Beds
8Baths
4,492Sqft
9,148Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Producing Asset: This 4-unit property offers a clear investment opportunity, allowing an owner to live in one unit and rent out the others for maximum income, with a community laundry room providing additional revenue potential.
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. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 8, other record bedroom count = 4.

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: Despite being built in 1963, this property 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 wood fence, and a new water heater. At least one bathroom has been fully remodeled with modern finishes. While some kitchen cabinets appear to be older styles that have been painted, and some appliances (like the electric coil cooktop) are not top-tier modern, the overall condition is move-in ready with no immediate renovations required. The presence of window AC units rather than central air is a minor drawback, but the significant updates to major systems and cosmetic elements align well with the 'Good' condition criteria for an extensively renovated property.
Year Built
1963
Close
-
List price
$1.95M
Original List price
$1.95M
Price/Sqft
$434
HOA
-
Days on market
-
Sold On
-
MLS number
PW26011626
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
Despite being built in 1963, this property 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 wood fence, and a new water heater. At least one bathroom has been fully remodeled with modern finishes. While some kitchen cabinets appear to be older styles that have been painted, and some appliances (like the electric coil cooktop) are not top-tier modern, the overall condition is move-in ready with no immediate renovations required. The presence of window AC units rather than central air is a minor drawback, but the significant updates to major systems and cosmetic elements align well with the 'Good' condition criteria for an extensively renovated property.
Pros & Cons

Pros

Income-Producing Asset: This 4-unit property offers a clear investment opportunity, allowing an owner to live in one unit and rent out the others for maximum income, with a community laundry room providing additional revenue potential.
Extensive Recent Renovations: The property boasts fully renovated units with new kitchen countertops, fresh laminate flooring, updated plumbing, new exterior paint, dual-pane windows, a new wood fence, and a new water heater, minimizing immediate capital expenditures.
Significant Rental Upside: Current rents are below market value, presenting a substantial opportunity for increased rental income and improved cash flow for a new owner.
Prime & Central Location: Located in the highly sought-after city of Garden Grove, the property offers central access to shopping, parks, dining, entertainment, schools, and major freeways (22/5/57), enhancing tenant appeal and property value.
Approved Expansion Potential: The corner lot includes an attached 4-car garage and city-approved additional space to build extra outdoor parking, adding future value and convenience for residents.

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. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 8, other record bedroom count = 4.
Age of Property Structure: Built in 1963, the underlying structure is over 60 years old. While many updates have been made, older foundational elements or systems not explicitly mentioned as updated could present future maintenance challenges.
Partial Roof Replacement: The description states 'new roof in most areas,' implying that some sections of the roof were not replaced, which could lead to future repair or replacement costs for those specific parts.
Absence of Cooling System: There is no mention of an air conditioning or cooling system in the property description, which could be a significant drawback for tenant comfort and marketability, especially during warmer months in California.
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