12111 Adrian Street, Garden Grove, California 92840, Garden Grove, - bed, bath
ACTIVE$1,795,000
12111 Adrian Street, Garden Grove, California 92840
0Bed
0Bath
4,042Sqft
7,841Lot
Year Built
1963
Close
-
List price
$1.79M
Original List price
$1.82M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
PW25135398
Home ConditionFair
Features
Patio
View-
About this home
Great Investment Property! This is a popular Covington two-story multi-family dwelling in good condition with 4,042 SF of living space on a large 7,841 SF lot. The property is located on a quiet cul-de-sac (Adrian Street) with lots of on-street parking for guests. The structure includes a total of 4 residential units which consist of (1)- 1 bd & 1ba, (2)- 2 bd & 2 ba, and (1)- 3 bd & 2 ba units. There are a total of 3 exterior patios, 3 brick fireplaces, 4 single-car garages with 2 additional spaces (1 of which is shared with neighbor), grassed common space, and a coin-operated laundry facility. Between each residential unit, the building structure has concrete block walls separating each other for noise minimizing and safety.
Condition Rating
Fair
The property was built in 1963. The images show that the interior is dated, with older carpets and what appears to be original fixtures. While the property is described as being in 'good condition', the images suggest it requires updates to bring it to modern standards. The kitchens and bathrooms are not visible in the provided images, but given the age and general appearance, they are likely outdated as well. Therefore, a 'fair' rating is appropriate.
Pros & Cons
Pros
Investment Potential: The property is a multi-family dwelling with four units, offering a strong potential for rental income.
Unit Mix: The unit mix (1 x 1bd/1ba, 2 x 2bd/2ba, 1 x 3bd/2ba) provides diverse rental options, appealing to a wider range of tenants.
Large Lot Size: The 7,841 SF lot provides ample space for tenants and potential for future development or expansion.
Parking Availability: The property includes 4 single-car garages and 2 additional spaces, addressing a key tenant need.
Noise Reduction: Concrete block walls between units enhance privacy and minimize noise transfer, improving tenant satisfaction.
Cons
Year Built: Built in 1963, the property may require updates to meet modern tenant expectations and building codes.
Shared Parking: One parking space is shared with a neighbor, which could lead to potential conflicts or inconvenience.
Original List Price Reduction: The property has already experienced a price reduction, which may indicate underlying issues or market resistance.