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12551 Lorna St, Garden Grove, CA 92841
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12551 Lorna St Garden Grove, CA 92841

$3,160,000 Sold Price as of 01/02/2023
  • 15 Beds
  • 8 Baths
  • 6,500 Sq.Ft.
Sold
$3,160,000 Sold Price as of 01/02/2023 Refinance Your Mortgage
Map preview of 12551 Lorna St, Garden Grove, CA 92841

Property Overview: 12551 Lorna St Garden Grove, CA has 15 bedrooms, 8 bathrooms, 6,500 living square feet and 21,201 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: The Lorna Apartments has an attractive assumable interest only loan at 3.45% till 7/2026. It is a proud of ownership apartment property built in 1963 of wood frame and stucco construction on a 21,201 sqft lot. The property has highly desirable unit mix of spacious one 3 Bedroom 2 Bath front unit and six 2 Bedroom 1 Bath units. The units are nicely lay out and have private patios. It is separately metered for gas and electricity and each unit has its own hot water heaters. There is ample onsite parking with 8 parking garages and 8 open parking spaces in front of the garages. There is an onsite laundry facility for the convenience of the tenants. Major recent improvement includes new roof, paving, rain gutters, and landscape upgrades. It is a well-maintained income property with a turnkey operation with many potentials. There are no assessor building sqft. Unit Sqft is estimated. Buyer and Buyer's agent to verify.

Listed by Hiu Chan | BRE #01297322 | Hiu Chan, Broker
Last checked: 3 minutes ago | Last updated: January 11th, 2023 | Source CRMLS | DOM: 54

Home details

Lot Sq. Ft
21,201
HOA Dues
$0/mo
Year built
1963
Garage
8 Car
Property Type:
Multi Family
Status
Sold
MLS#
PW22211675
City
Garden Grove
County
Orange
Time on Site
721 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 7
  • Total # of Buildings: 4
  • # of Electric Meters: 7
  • # of Gas Meters: 7
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 2
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $3,025
  • Total Rent: $3,025
  • Pro Forma/Market Rent: $3,100
Unit Breakdown 2
  • # of Units: 6
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 6
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $13,200
  • Total Rent: $13,200
  • Pro Forma/Market Rent: $13,800
Multi-Family Income/Expense Information
Property Income and Analysis
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $195,502
  • Net Operating Income: $127,802
  • Gross Operating Income: --
Annual Expense Breakdown
  • Total Operating Expense: $61,834
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $2,157
  • Insurance: $2,279
  • Professional Management: $0
  • Water/Sewer: $4,426

Property Details for 12551 Lorna St

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Fireplace Information
  • Has Fireplace
  • Patio
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 8
  • # of Parking Spaces: 16
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: 1 Common Wall, No One Above
  • Total # of Units: 7
  • Parcel Number: 21510208
  • Year Built Source: Appraiser
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Electricity Available, Natural Gas Available, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: none
  • Directions: West of Magnolia and South of Lampson
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Garden Grove Agent

Sale History for 12551 Lorna St

Last sold for $3,160,000 on January 2nd, 2023

  • January, 2023

  • Jan 2, 2023

    Date

    Sold

    CRMLS: PW22211675

    $3,160,000

    Price

  • Sep 28, 2022

    Date

    Active

    CRMLS: PW22211675

    $3,195,000

    Price

  • November, 2003

  • Nov 24, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • July, 1998

  • Jul 21, 1998

    Date

    Sold (Public Records)

    Public Records

    $425,000

    Price

Show More

Tax History for 12551 Lorna St

Assessed Value (2020): $609,225
Year Land Value Improved Value Assessed Value
2020 $337,926 $271,299 $609,225

Home Value Compared to the Market

This property vs the competition

12551 Lorna St sold on January 2, 2023 for 278.11% higher than the current median sold price for the city of Garden Grove which is $845,000. The median sold price per/sqft for Garden Grove is $595 and this home is sold at $491.54 per/sqft which puts the price per square foot 17.39% lower than the current median sale per square foot for the city of Garden Grove.

About 12551 Lorna St

Detailed summary of property

12551 Lorna St is a multi family that recently sold in Garden Grove, CA 92841. This multi family property offered 15 bedrooms, 8 bathrooms, roughly 6,500 living square feet, and sits on an approximately 21,201 square foot lot. 12551 Lorna St was first listed on ArdentRealEstateGroup.com on September 29, 2022. The homeowner sold the property for $3,160,000. Home in Garden Grove are selling for a median price of $845,000 and a median price per square foot of $595. Based on Ardent Real Estate Group's Garden Grove Market Data, this home is sold 278.11% higher than the current median priced home. Local homes that are currently for sale include 6807 E Seaside Walk, 432 Hamilton St and 1925 Wallace Ave. While the average home in Garden Grove, CA is selling in 34 days, 12551 Lorna St has a days on market of 54 days. There are currently 157 homes for sale in the Garden Grove real estate market and 112 of them are single family homes while 37 of them are condos and 8 are townhomes. For more information on this home for sale at 12551 Lorna St Garden Grove, CA 92841 contact Ardent Real Estate Group and we will put you in touch with one of our Garden Grove agents.

Public Facts for 12551 Lorna St

Public county record property details
Beds
--
Baths
--
Year built
1963
Sq. Ft.
--
Lot Size
21,200
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
4
APN
215-102-08

The source for these homes facts are from public records.

92841 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$999,500
Median List Price/Sq.Ft.
$571
Median Sold Price
$925,000
Median Sold Price/Sq.Ft.
$646
Total Inventory
31
Median Sale to List Price %
105.71%
Avg Days on Market
14
Loan Type
Conventional (53.85%), FHA (0%), VA (0%), Cash (7.69%), Other (38.46%)

Thinking of Selling?

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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