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10622 Tibbs Circle, Garden Grove, CA 92840
Priced at Only: $5,000,000
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Address: 10622 Tibbs Circle, Garden Grove, CA 92840
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  • MLS#: OC25112645 ( Apartment )
  • Street Address: 10622 Tibbs Circle
  • Viewed: 1
  • Price: $5,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1960
  • Bldg sqft: 0
  • Days On Market: 300
  • Additional Information
  • County: ORANGE
  • City: Garden Grove
  • Zipcode: 92840
  • Provided by: Advance Estate Realty
  • Contact: Long Long
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Turnkey 17 Unit Apartment Investment in Prime Garden Grove Welcome to 10622 Tibbs Circle, a rare opportunity to acquire a well maintained 16 + 1 unit apartment complex located in a quiet cul de sac in the heart of Garden Grove. This property has been thoughtfully cared for by long term ownership, with an average of over $30,000 spent annually on capital improvements over the past 5+ years. Major upgrades include a full copper repipe of the entire building and a complete roof replacement completed in 2012providing peace of mind and reducing future maintenance costs for the next investor. The apartment offers a desirable mix of one bedroom and two bedroom units, many of which have been updated. Residents enjoy the convenience of ample on site parking, shared laundry facilities, and a spacious central courtyard that fosters a sense of community. Current rents remain below market, presenting a significant value add opportunity for the next owner through rent increases or further interior renovations. Ideally situated near Little Saigon, top rated schools, shopping centers, and major freeways including the 22, 5, and 405, the location ensures high tenant demand and long term rental stability. With its strong in place income, solid physical condition, and potential for growth, 10622 Tibbs Circle is an ideal fit for investors seeking a stabilized asset with upside in one of Orange Countys most sought after rental markets. Tenants are paying for most of Utilites: Gas, Water & Trash through RUBS
Features
Accessibility Features
  1. Parking
Appliances
  1. Water Heater
  2. Gas Water Heater
  3. Range Hood
  4. Gas Range
Assessments
  1. Unknown
Association Fee
  1. 0.00
Building Area Total
  1. 12275.00
Commoninterest
  1. Community Apartment
Common Walls
  1. 2+ Common Walls
Cooling
  1. Ductless
Country
  1. US
Days On Market
  1. 291
Electric
  1. Standard
Electric Expense
  1. 3959.00
Fireplace Features
  1. None
Flooring
  1. Tile
  2. Vinyl
  3. Laminate
Fuel Expense
  1. 8546.00
Garage Rental Rate
  1. 0.00
Garage Spaces
  1. 16.00
Gardner Expense
  1. 4020.00
Heating
  1. Ductless
Improvementsamount
  1. 117936
Insurance Expense
  1. 8524.00
Interior Features
  1. Quartz Counters
Laundry Equipment Own Lease
  1. Lease
Laundry Features
  1. Community
Laundry Income
  1. 3887.00
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. Sprinklers In Front
  2. Sprinkler System
Netoperatingincome
  1. 325115.00
Newtaxesexpense
  1. 63000.00
Number Of Separate Electric Meters
  1. 16
Number With Disposal
  1. 17
Number With Range
  1. 17
Otherexpense
  1. 28000.00
Otherincome1
  1. 24981.00
Otherincome2
  1. 14310.00
Otherincomedescription
  1. RUBS
  2. Pet
  3. & Late Fees
Parcel Number
  1. 08961318
Parking Features
  1. Assigned
  2. Garage Faces Rear
  3. Garage - Two Door
Pool Expense
  1. 2195.00
Pool Features
  1. Community
Professionalmanagementexpense
  1. 17748.00
Property Type
  1. Apartment
Road Frontage Type
  1. City Street
Road Surface Type
  1. Paved
Roof
  1. Rolled/Hot Mop
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 439077872:CRM
Spa Features
  1. None
Tenant Pays
  1. Gas
  2. Trash Collection
  3. Water
  4. Sewer
Totalactualrent
  1. 33376.00
Totalexpenses
  1. 105275.00
Trash Expense
  1. 9154.00
Utilities
  1. Natural Gas Connected
  2. Phone Available
  3. Sewer Connected
  4. Cable Available
  5. Electricity Connected
  6. Water Connected
Vacancyallowance
  1. 13311
View
  1. None
Water Sewer Expense
  1. 12193.00
Water Source
  1. Public
Year Built
  1. 1960
Year Built Source
  1. Assessor
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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