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Listed by Long Nguyen • Advance Estate Realty
$ 5,250,000
Est. payment | /mo
4 SqFt
$ 5,250,000
Est. payment | /mo
4 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 4 sqft
Price per Sqft $1,312,500
MLS Listing ID CROC25112645
HOA Y/N No
Year Built 1960
Lot Size 0.450 Acres
Property Sub-Type Other
Source Datashare California Regional
Property Description
Turnkey 17-Unit Apartment Investment in Prime Garden Grove Welcome to 10622 Tibbs Circle, a rare opportunity to acquire a well-maintained 16 + 1 unit apartment complex located in a quiet cul-de-sac in the heart of Garden Grove. This property has been thoughtfully cared for by long-term ownership, with an average of over $30,000 spent annually on capital improvements over the past 5+ years. Major upgrades include a full copper repipe of the entire building and a complete roof replacement completed in 2012—providing peace of mind and reducing future maintenance costs for the next investor. The apartment offers a desirable mix of one-bedroom and two-bedroom units, many of which have been updated. Residents enjoy the convenience of ample on-site parking, shared laundry facilities, and a spacious central courtyard that fosters a sense of community. Current rents remain below market, presenting a significant value-add opportunity for the next owner through rent increases or further interior renovations. Ideally situated near Little Saigon, top-rated schools, shopping centers, and major freeways including the 22, 5, and 405, the location ensures high tenant demand and long-term rental stability. With its strong in-place income, solid physical condition, and potential for growth, 10622
Location
State CA
County Orange
Interior
Heating Other
Cooling Other
Flooring Laminate, Tile, Vinyl
Fireplace No
Appliance Gas Water Heater
Laundry Community Facility
Exterior
View None
Handicap Access Other
Building
Lot Description Other
Water Public
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Fareed Tawasha
Broker | Lic# 01421971