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Listed by Long Nguyen • Advance Estate Realty
$ 5,250,000
Est. payment /mo
Active
10622 Tibbs CIR Garden Grove, CA 92840
0.45 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC25112645
Year Built 1960
Lot Size 0.450 Acres
Source California Regional MLS
Property 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 2012-providing 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, 1062
Location
State CA
County Orange
Area 62 - Garden Grove N Of Chapman, W Of Euclid
Rooms
Kitchen Hood Over Range, Other, Oven Range - Gas
Interior
Flooring Laminate
Laundry Washer/Dryer - Leased, Community Facility
Exterior
Parking Features Assigned Spaces, Attached Garage, Garage
Garage Spaces 16.0
Pool 31, Community Facility
View None
Roof Type Rolled Composition
Building
Water Hot Water, District - Public
Others
Tax ID 08961318
Special Listing Condition Not Applicable
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