13120 Nelson St Garden Grove, CA 92843

Agent Remarks: ***The Villa Solana Apartments just received a Big Reduction in Price of $75,000***. The apartment building is located in the city of Garden Grove in a excellent rental neighborhood surrounded by apartments and single family residences. The subject property possesses an attractive unit mix of (6) 2 bedrooms/one bath and (4) 1 bedroom/one bath units include: outdoor courtyard sitting area, garages and driveway parking spaces. The owner has added substantial upgrades and capital improvements to the property including: new garage roof in 2020, new exterior vinyl fencing, new cinder block enclosed front patios, new steel frame wood gates with code entry, new exterior paint, newer vinyl windows, some new gas lines, and a attractive exterior water fountain. The subject property is separately metered for electric and gas for low owner expense. In addition, approximately $200 per month of extra income flows through the convenient on-site laundry facility (Owned machines/go with the sale). Additionally, there are two spacious onsite storages sheds for owner use or to increase landlord revenue by renting them out. The Villa Solana is a wonderful opportunity for savvy to take advantage of the upside in rents and achieve close to a 5 CAP and 14.38 GRM on street rents. Another important note is that all tenants have been current through COVID. Villa Solana is ideally located in Central OC with quick access to the 22/5/57 freeways allowing tenants to quickly access numerous OC employment centers and amenities like: Knotts Berry Farm, Disneyland, Honda Center, Angel Stadium, shopping centers, Home Depot.

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