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12562 Morningside Ave, Garden Grove, CA 92843
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12562 Morningside Ave Garden Grove, CA 92843

$2,200,000 Sold Price as of 09/09/2022
  • 14 Beds
  • 8 Baths
  • 5,337 Sq.Ft.
Sold
$2,200,000 Sold Price as of 09/09/2022 Refinance Your Mortgage
Map preview of 12562 Morningside Ave, Garden Grove, CA 92843

Property Overview: 12562 Morningside Ave Garden Grove, CA has 14 bedrooms, 8 bathrooms, 5,337 living square feet and 9,988 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Identical property across the street 12561 also available. Investment opportunity with 15% upside rent potential, attractive unit mix, central laundry, carports plus open parking. Ideally located near the Harbor Boulevard and Westminster Avenue transit hub that in 2024 will carry riders by Light rail vehicles every 10 to 15 minutes stopping within locations between Garden Grove and Santa Ana.

Listed by Hal Pappano | BRE #00758111 | Capitalvest, Inc.
Last checked: 3 minutes ago | Last updated: September 13th, 2022 | Source CRMLS | DOM: 12

Home details

Lot Sq. Ft
9,988
HOA Dues
$0/mo
Year built
1961
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
PW22130729
City
Garden Grove
County
Orange
Time on Site
671 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 8
  • # of Gas Meters: 8
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,735
  • Total Rent: $1,735
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,350
  • Total Rent: $1,350
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,500
  • Total Rent: $1,500
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,685
  • Total Rent: $1,685
  • Pro Forma/Market Rent: $1,800
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,750
  • Total Rent: $1,750
  • Pro Forma/Market Rent: $2,350
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 3
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,650
  • Total Rent: $1,650
  • Pro Forma/Market Rent: $2,350
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,495
  • Total Rent: $1,495
  • Pro Forma/Market Rent: $1,500
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,375
  • Total Rent: $1,375
  • Pro Forma/Market Rent: $1,500
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4%
  • Gross Rent Multiplier: 15.62
  • Gross Scheduled Income: $150,480
  • Net Operating Income: $94,720
  • Gross Operating Income: $148,975
  • Vacancy Allowance: $1,505
Annual Expense Breakdown
  • Total Operating Expense: $54,255
  • Electric: $610
  • Gas/Fuel: $3,570
  • New Taxes: $29,375
  • Trash: $2,820
  • Gardener: $1,440
  • Insurance: $1,250
  • Maintenance: $10,500
  • Professional Management: $0
  • Water/Sewer: $4,690

Property Details for 12562 Morningside Ave

Interior Features
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 12
  • Has Parking
  • Parking Features: Carport
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 8
  • Parcel Number: 19812304
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: None
  • Directions: Nearby Cross Streets: Harbor & Westminster Avenue
Neighborhood Information
  • Community Features: Curbs, Sidewalks, Street Lights
View more facts & features

Local Garden Grove Agent

Sale History for 12562 Morningside Ave

Last sold for $2,200,000 on September 9th, 2022

  • September, 2022

  • Sep 9, 2022

    Date

    Sold

    CRMLS: PW22130729

    $2,200,000

    Price

  • Jun 29, 2022

    Date

    Active

    CRMLS: PW22130729

    $2,350,000

    Price

Tax History for 12562 Morningside Ave

Assessed Value (2020): $385,992
Year Land Value Improved Value Assessed Value
2020 $227,494 $158,498 $385,992

Home Value Compared to the Market

This property vs the competition

12562 Morningside Ave sold on September 9, 2022 for 148.18% higher than the current median sold price for the city of Garden Grove which is $946,900. The median sold price per/sqft for Garden Grove is $622 and this home is sold at $440.32 per/sqft which puts the price per square foot 29.21% lower than the current median sale per square foot for the city of Garden Grove.

About 12562 Morningside Ave

Detailed summary of property

12562 Morningside Ave is a multi family that recently sold in Garden Grove, CA 92843. This multi family property offered 14 bedrooms, 8 bathrooms, roughly 5,337 living square feet, and sits on an approximately 9,988 square foot lot. 12562 Morningside Ave was first listed on ArdentRealEstateGroup.com on June 29, 2022. The homeowner sold the property for $2,200,000. Home in Garden Grove are selling for a median price of $946,900 and a median price per square foot of $622. Based on Ardent Real Estate Group's Garden Grove Market Data, this home is sold 148.18% higher than the current median priced home. Local homes that are currently for sale include 1556 E Benmore Ln, 2026 N Park Ln and 150 Cecil Pl. While the average home in Garden Grove, CA is selling in 31 days, 12562 Morningside Ave has a days on market of 12 days. There are currently 121 homes for sale in the Garden Grove real estate market and 98 of them are single family homes while 19 of them are condos and 4 are townhomes. For more information on this home for sale at 12562 Morningside Ave Garden Grove, CA 92843 contact Ardent Real Estate Group and we will put you in touch with one of our Garden Grove agents.

Public Facts for 12562 Morningside Ave

Public county record property details
Beds
--
Baths
--
Year built
1961
Sq. Ft.
5,337
Lot Size
9,988
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
74
APN
198-123-04

The source for these homes facts are from public records.

92843 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,098,000
Median List Price/Sq.Ft.
$690
Median Sold Price
$672,000
Median Sold Price/Sq.Ft.
$651
Total Inventory
11
Median Sale to List Price %
101.05%
Avg Days on Market
30
Loan Type
Conventional (60%), FHA (0%), VA (0%), Cash (30%), Other (10%)

Thinking of Selling?

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(714) 706-1823

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Recently Sold Homes Near 12562 Morningside Ave

12561 Morningside Ave, Garden Grove, CA 92843
$2,200,000 Last Sold Price
14 Beds
8 Baths
5337 Sq.Ft.
12561 Morningside Ave
Garden Grove, CA 92843
12562 Keel Ave, Garden Grove, CA 92843
$1,750,000 Last Sold Price
8 Beds
8 Baths
5050 Sq.Ft.
12562 Keel Ave
Garden Grove, CA 92843
12702 Morningside Ave, Garden Grove, CA 92843
$2,160,000 Last Sold Price
12 Beds
8 Baths
5337 Sq.Ft.
12702 Morningside Ave
Garden Grove, CA 92843
14052 Buena St, Garden Grove, CA 92843
$1,600,000 Last Sold Price
8 Beds
6 Baths
3707 Sq.Ft.
14052 Buena St
Garden Grove, CA 92843

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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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