12892 Louise Street

Description

This is an amazing opportunity to own a very unique property with a great upside potential. This property is perfect for an investor looking for a solid positive return , a business owner that needs parking for vehicles as well as rental income or a owner that would live in one home and rent out the rest. This property features three detached homes as well as a three car garage. The property break down is as follows Zoning : Garden Grove Boulevard Mixed Use (GGMU) : 12892 Louise St - 2 bedrooms, office, 2 bath built in 1937 : 12902 Louise - 3 bedrooms , 2 baths built in 1950 : 12888 Louise - 3 bedrooms , 2 baths built in 1950 : Garage consisting of 3 separate stalls built 1988. The lot is over 16000 sf and can accommodate an estimated 28 cars for parking. Each home has been meticulously maintained by the same family for generations. The city of Garden Grove is currently implementing a street expansion and sidewalk installation project on the subject street. The pro forma Cap Rate for the property including possible garage rental and other income stands at 5.66 %. This is an amazing opportunity that will not last.

Listing information courtesy of: Jennifer Tackney, GMT Real Estate . *Based on information from the Association of REALTORS/Multiple Listing as of 11/13/2024 and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.