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12702 Morningside Ave, Garden Grove, CA 92843
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12702 Morningside Ave Garden Grove, CA 92843

$2,760,000
  • 12 Beds
  • 8 Baths
  • 5,340 Sq.Ft.
For Sale
$2,760,000 Get Pre-Qualified
Map preview of 12702 Morningside Ave, Garden Grove, CA 92843

Property Overview: 12702 Morningside Ave Garden Grove, CA has 12 bedrooms, 8 bathrooms, 5,340 living square feet and 10,454 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: This well-located, recently renovated, turnkey eight-unit investment has immense building and curb appeal. The Morningside Apartments are located in Garden Grove next to a Northgate Market Shopping Center, a bustling Westminster Ave and Harbor Blvd intersection, and in between the 22 and 5 Freeways for easy access to greater Orange County. Built in 1961, the property had significant interior and exterior renovations in 2022-2023. The property is a two-story garden-style walk-up with a slightly pitched roof. There is an on-site laundry room and covered parking for tenants. The building was recently separately metered for electricity as well. Each of the units have had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, and new paint. The exterior also had a recent significant renovation completed, including new stucco and paint, new paved asphalt, new double-pane vinyl windows, and new wall air conditioning. Listing Agent has an interest in the property. These 8 units are centrally located close to Main Place Mall, The Outlets at Orange, Disneyland Resort, Disney California Adventure Park, Anaheim Marketplace, and Downtown Santa Ana. The property is less than a mile from many major retail centers and employment opportunities.

Listed by Mark Bridge | BRE #01316702 | Mark Bridge, Broker
Last checked: 1 minute ago | Last updated: March 21st, 2024 | Source CRMLS | DOM: 58
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Home details

Lot Sq. Ft
10,454
HOA Dues
$0/mo
Year built
1961
Garage
3 Car
Property Type:
Apartment
Status
Active
MLS#
OC24036686
City
Garden Grove
County
Orange
Time on Site
66 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 8
  • Total # of Buildings: 1
  • # of Electric Meters: 9
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,875
  • Total Rent: $7,500
  • Pro Forma/Market Rent: $7,980
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 1
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,325
  • Total Rent: $9,300
  • Pro Forma/Market Rent: $10,000
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5%
  • Gross Rent Multiplier: 13.69
  • Gross Scheduled Income: $201,600
  • Net Operating Income: $137,863
  • Gross Operating Income: $197,952
  • Vacancy Allowance: $6,084
  • Gross Spendable Income: $137,863
  • Laundry Income: $2,400
  • Laundry Own/Lease: Lease
Annual Expense Breakdown
  • Total Operating Expense: $60,089
  • Electric: $2,400
  • Gas/Fuel: $4,060
  • New Taxes: $32,568
  • Trash: $3,996
  • Gardener: $1,800
  • Insurance: $3,959
  • Maintenance: $4,000
  • Professional Management: $0
  • Water/Sewer: $3,792
  • Other Expenses: $3,718
  • Other Expense Description: Misc

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Property Details for 12702 Morningside Ave

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Community
Fireplace Information
  • No Fireplace
  • None
Interior Features
  • Quartz Counters
  • Levels: Two
  • Window Features: Double Pane Windows
Exterior Features
Exterior Information
  • Roof: Composition
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 3
  • # of Parking Spaces: 11
  • Has Parking
  • Parking Features: Assigned, Garage
Lot Information
  • Lot Features: 6-10 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 1 Common Wall
  • Total # of Units: 8
  • Parcel Number: 19812315
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
  • Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: Other
  • Directions: Head West on Westminster Ave. Take a Right onto Buena St until you hit a dead end. Property will be on your Right.
  • Road Surface Type: Paved
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights, Suburban
View more facts & features

Local Garden Grove Agent

Sale History for 12702 Morningside Ave

Last sold for $2,160,000 on August 23rd, 2022

  • February, 2024

  • Feb 23, 2024

    Date

    Active

    CRMLS: OC24036686

    $2,840,000

    Price

  • August, 2023

  • Aug 24, 2023

    Date

    Canceled

    CRMLS: OC23114429

    $2,760,000

    Price

  • Jun 27, 2023

    Date

    Active

    CRMLS: OC23114429

    $2,800,000

    Price

  • Listing provided courtesy of CRMLS

    This offering allows an investor to acquire a well-located, recently renovated, turnkey investment with immense building and curb appeal next to a Northgate Market Shopping Center, a busy Westminster Ave and Harbor Blvd intersection, and in between the 22 and 5 Freeways. Built in 1961, the property had significant interior and exterior renovations in 2022-2023. The property is a two-story garden-style walk-up with a slightly pitched roof. There is an on-site laundry room and covered parking for tenants. The building was recently separately metered for electricity as well. Each of the units have had recent interior renovations ranging from new flooring, new quartz counter tops and refaced cabinets, new lighting, new kitchen and bathroom sinks, new bathroom vanities, new stovetop ovens and hoods, and new paint. The exterior also had a recent significant renovation completed, including new stucco and paint, new paved asphalt, new double-pane vinyl windows, and new wall air conditioning. These units are centrally located in between the 22 and 5 Freeways with easy access to all of Orange County. They are close to Main Place Mall, The Outlets at Orange, Disneyland Resort, Disney California Adventure Park, Anaheim Marketplace, and Downtown Santa Ana. The property is less than a mile from many major retail centers and employment opportunities.

  • August, 2022

  • Aug 23, 2022

    Date

    Sold

    CRMLS: PW22141898

    $2,160,000

    Price

  • Jun 30, 2022

    Date

    Active

    CRMLS: PW22141898

    $2,100,000

    Price

  • Listing provided courtesy of CRMLS

    Great Apartment Opportunity in the heart of Garden Grove. Good property to manage in central location Garden Grove. An astute investor will take advantage of the upside. Garden Grove is one of the most stable rental markets in Orange County, providing tenants a central location with surrounding jobs, schools, retail, dining, and entertainment.

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Tax History for 12702 Morningside Ave

Assessed Value (2020): $172,791
Year Land Value Improved Value Assessed Value
2020 $44,736 $128,055 $172,791

Home Value Compared to the Market

This property vs the competition

12702 Morningside Ave is listed 187.5% higher than the median list price for the city of Garden Grove which has a median list price of $960,000. The median price per/sqft for Garden Grove is $603 and this home is listed at $516.85 per/sqft which puts the price per square foot 14.29% lower than the median price per square foot for the city of Garden Grove.

About 12702 Morningside Ave

Detailed summary of property

12702 Morningside Ave is a apartment located in Garden Grove, CA 92843 and is currently for sale. This apartment offers 12 bedrooms, 8 bathrooms, roughly 5,340 living square feet, and sits on an approximately 10,454 square foot lot. 12702 Morningside Ave was first listed on ArdentRealEstateGroup.com on February 23, 2024. The homeowner is currently asking $2,760,000 and was originally asking $2,840,000. The median priced home in Garden Grove is $960,000 with a median price per square foot of $603. Based on Ardent Real Estate Group's Garden Grove Market Data, this home is listed 187.5% higher than the median priced home. Local competing homes currently for sale include 734 Center St, 1310 W Valencia Dr and 216 W Santa Fe Ave. While the average home in Garden Grove, CA is selling in 31 days, 12702 Morningside Ave has a days on market of 58 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 12702 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 12702 Morningside Ave

Public county record property details
Beds
--
Baths
--
Year built
1961
Sq. Ft.
5,338
Lot Size
10,591
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
85
APN
198-123-15

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%)

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Recently Sold Homes Near 12702 Morningside Ave

12562 Morningside Ave, Garden Grove, CA 92843
$2,200,000 Last Sold Price
14 Beds
8 Baths
5337 Sq.Ft.
12562 Morningside Ave
Garden Grove, CA 92843
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
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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