12892 Louise Street, Garden Grove, CA 92841

About this triplex

This is an amazing opportunity to own a very unique property with a great upside potential. This property is perfect for an investor looking for a solid positive return , a business owner that needs parking for vehicles as well as rental income or a owner that would live in one home and rent out the rest. This property features three detached homes as well as a three car garage. The property break down is as follows Zoning : Garden Grove Boulevard Mixed Use (GGMU) : 12892 Louise St - 2 bedrooms, office, 2 bath built in 1937 : 12902 Louise - 3 bedrooms , 2 baths built in 1950 : 12888 Louise - 3 bedrooms , 2 baths built in 1950 : Garage consisting of 3 separate stalls built 1988. The lot is over 16000 sf and can accommodate an estimated 28 cars for parking. Each home has been meticulously maintained by the same family for generations. The city of Garden Grove is currently implementing a street expansion and sidewalk installation project on the subject street. The pro forma Cap Rate for the property including possible garage rental and other income stands at 5.66 %. This is an amazing opportunity that will not last.

Listing description from the November 2023 sale, as reported to CRMLS.

Sale history

$1,825,000

Sold November 2023 · listed $1,988,800, on market June 2023 · MLS #PW23111842 · Source: CRMLS

Listing Agent: Jennifer Tackney · Listing Office: GMT Real Estate · Contact: 714-801-9882 · Bought with: Thomas Dao · Superior Real Estate Group

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