Garden Grove, CA 92843 12702 Morningside Avenue
$2,760,000
10 more
Presented By: Mark Bridge with Mark Bridge, Broker; [email protected]
Home Details
This well-located, recently renovated, turnkey eight-unit investment has immense building and curb appeal. The Morningside Apartments are located in Garden Grove next to a Northgate Market Shopping Center, a bustling Westminster Ave and Harbor Blvd intersection, and in between the 22 and 5 Freeways for easy access to greater Orange County.
Built in 1961, the property had significant interior and exterior renovations in 2022-2023. The property is a two-story garden-style walk-up with a slightly pitched roof. There is an on-site laundry room and covered parking for tenants. The building was recently separately metered for electricity as well.
Each of the units have had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, and new paint.
The exterior also had a recent significant renovation completed, including new stucco and paint, new paved asphalt, new double-pane vinyl windows, and new wall air conditioning. Listing Agent has an interest in the property.
These 8 units are centrally located close to Main Place Mall, The Outlets at Orange, Disneyland Resort, Disney California Adventure Park, Anaheim Marketplace, and Downtown Santa Ana. The property is less than a mile from many major retail centers and employment opportunities.
Presented By: Mark Bridge with Mark Bridge, Broker; [email protected]
Interior Features for 12702 Morningside Avenue
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsItem1CommonWall
Electric On Property Y/NNo
Fireplace FeaturesNone
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Street SuffixAvenue
Total Stories2
Window FeaturesDoublePaneWindows
Other Rooms
Entry Level1
General for 12702 Morningside Avenue
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.0
Carport Spaces7.0
Carport Y/NYes
CityGarden Grove
Community FeaturesCurbs, Gutters, StormDrains, StreetLights, Suburban, Sidewalks
CoolingWallWindowUnits
CountyOrange
Current FinancingNone
Days on Market27
DirectionsHead West on Westminster Ave. Take a Right onto Buena St until you hit a dead end. Property will be on your Right.
Electric Expense2400.0
Entry LocationFront
Fuel Expense4060.0
Garage Spaces3.0
Garage Y/NYes
Gross Income201600.0
HOA0.0
HOA / Comm AssnNo
HeatingWallFurnace
Home Warranty Y/NNo
Insurance Expense3959.0
Interior FeaturesQuartzCounters
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan
Lot Size Square Feet10454.4
MLS Area70 - Santa Ana North of First
MaintenanceExpense4000.0
MobileHomeRemainsYNNo
Net Operating Income137863.0
New ConstructionNo
Open Parking Spaces1.0
Operating Expense60089.0
Pool FeaturesNone
PossessionCloseOfEscrow
Private PoolNo
Property Attached Y/NYes
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
RoofComposition
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Street NameMorningside
Subdivision NameOther
Tax Lot85
Taxes$32,568
Tenant PaysCableTV, Electricity
Total Units8
Trash Expense3996.0
UtilitiesCableConnected, ElectricityConnected, NaturalGasConnected, PhoneConnected, SewerConnected, WaterConnected
View Y/NNo
Water Sewer Expense3792.0
Waterfront Y/NNo
Year Built1961
Year Built SourceAssessor
Exterior for 12702 Morningside Avenue
Building Area Total5340.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesItem610UnitsAcre
Lot Size Acres0.24
Lot Size Area0.24
Lot Size SourceAssessor
Lot Size UnitsAcres
Number of Buildings1
Number of Separate Electric Meters9
Number of Separate Gas Meters1
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesAssigned, Garage
Road Surface TypePaved
SpaNo
Total Parking11.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480