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12581 Kensington Lane

Garden Grove, CA 92840
  • $2,420,000
  • STATUS: Active
  • ON SITE: 25 Days
  • ID#: NP23161598
UPDATED: 109 min ago
$2,420,000
  • 0
    BEDS
  • 0.22
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:

School Ratings & Info

Listing Agent(s): Randall Mycorn of R L M Equities (949-573-5309)


Description

PRICED TO SELL! 8 One bedroom units, high cash flowing asset with recent upgrades including: New electric, 4/8 units fully renovated, new landscape, termite and pest treated, brand new laundry facilities, new fencing. Over half of the buildings in the Kensington neighborhood have recently undergone extensive renovations and capture top of the market rents!Majority of units are section 8, no delinquencies and still 10%+ upside in rents. Competing units are currently leased out at $2100 on the same block!All dual pane vinyl windows, roof in great condition, 2:1 parking ratio!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-24T00:28:43.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
www.romerohometeam.com/homes/142912292
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12581 Kensington Lane Garden Grove, CA 92840

  • Price: $2,420,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 109 min ago
  • ID#: NP23161598
0
Beds
0
Baths
0
½ Baths
0.22
Acres
1960
Built
Neighborhood:
Kensington
County:
Orange
Area:
66 - N of Blsa, S of GGrv, E of Brookhrst, W of Ha
Property Description
PRICED TO SELL! 8 One bedroom units, high cash flowing asset with recent upgrades including: New electric, 4/8 units fully renovated, new landscape, termite and pest treated, brand new laundry facilities, new fencing. Over half of the buildings in the Kensington neighborhood have recently undergone extensive renovations and capture top of the market rents!Majority of units are section 8, no delinquencies and still 10%+ upside in rents. Competing units are currently leased out at $2100 on the same block!All dual pane vinyl windows, roof in great condition, 2:1 parking ratio!
Exterior Features

Entry Level 1 Entry Location 1 Lot Features 6-10 Units/Acre Number Of Separate Electric Meters 9 Parking Total 0 Pool Features None Pool Private YN No Property Attached YN Yes

Interior Features

Common Walls 2+ Common Walls

Property Features

Additional Parcels YN No Cap Rate 5.39 Common Interest None Community Features Suburban Electric Expense 0 Fuel Expense 0 Garage YN No Gross Income 1800 Gross Scheduled Income 180984 Insurance Expense 3072 Land Lease YN No Laundry Features Common Area Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash To New Loan1031 Exchange Maintenance Expense 2800 Net Operating Income 130510 New Construction YN No New Taxes Expense 30526 Number Of Separate Gas Meters 9 Number Of Separate Water Meters 1 Number Of Units Leased 5 Operating Expense 45098 Other Expense 1500 Property Sub Type Mixed Use Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 3 Water Sewer Expense 6000 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-24T00:28:43.64. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Romero Home Team | eXp Realty. Licensed in the State of California, USA.
 
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Romero Home Team | eXp Realty
865 Aerovista Pl, Suite 120
San Luis Obispo CA, 93401
Listing Agent(s): Randall Mycorn of R L M Equities (949-573-5309)