
Garden Grove, California 92840
This 4-unit multifamily property presents a Strong Value Opportunity, listed at $1,600,000—positioned well below the $1,730,733 Fair Market Value by 7%. This valuation gap offers $130,733 in Instant Equity. With a Fair Condition Rating, the asset features a turnkey, remodeled unit alongside three units offering significant rental upside. The property includes private patios and covered parking, making it a prime Buy-and-Hold Investor asset or a strategic choice for Owner-Occupants seeking to offset mortgage costs through rental income.
Property is moderate renovation needed.
Built in 1962, this 62-year-old property is a mixed-condition asset. While one unit has been recently renovated with a modern kitchen, new appliances, and updated flooring, the remaining three units are noted for 'upside potential,' implying they are dated and require modernization. The exterior has fresh paint, but the presence of older wall AC units and the age of the building suggest that while functional, the majority of the systems and interiors are in need of updates to meet current market standards.
With current rents below market value, this property offers a prime value-add opportunity for investors to increase cash flow through natural tenant turnover and strategic interior updates.
The fully remodeled 1-bedroom unit is move-in ready with modern finishes, providing an immediate opportunity for an owner-occupant or for an investor to secure market-rate rent instantly.
The inclusion of two large 3-bedroom units is a rare find in the quadruplex market, attracting long-term family tenants and commanding higher rental premiums compared to standard smaller units.
While the exterior and one unit are updated, the remaining three units likely require significant capital expenditure to bring them up to the same modern standard and maximize total building revenue.
Built in 1962, the property may have aging mechanical, plumbing, or electrical systems that could necessitate higher long-term maintenance costs compared to newer multifamily assets.
Exceptional value-add 4-unit investment opportunity in the heart of Garden Grove! This well-located multifamily property features an attractive unit mix of (2) 3-bedroom/1.25-bath, (1) 2-bedroom/1-bath, and (1) 1-bedroom/1-bath units totaling approximately 4,517 square feet on a 9,982 square foot lot. The property has recently undergone a complete exterior repaint, enhancing curb appeal and minimizing immediate maintenance. One vacant and beautifully updated 1-bedroom/1-bath unit is move-in ready with new flooring, fresh interior paint, an updated kitchen with new countertops and appliances, a remodeled bathroom, and a private patio—providing an excellent opportunity for an owner-occupant or investor to immediately lease at market rent. Current in-place rents offer significant upside potential through natural tenant turnover, making this an attractive investment with long-term income growth. Additional features include 5 covered carport parking spaces, gated rear access, private patios, and an appealing low-maintenance exterior. Ideally situated near shopping, dining, schools, employment centers, and with convenient access to the 22, 5, 57, and 405 freeways, this is a rare opportunity to acquire a quality multifamily asset in one of Orange County’s strongest rental markets.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 4,517 | - |
| Lot Size | 9,982 | - |
| Price | $1.60M | $1.46M |
| Price per sq ft | $354 | $508 |
| Built year | 1962 | 0 |
| HOA | $0 | $0 |
| Days on market | 16 | 85 |
Jul 6, 2026
$1,600,000
Initial Listing