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Richard Chung

[email protected] +1(714) 865-3871

$ 2,300,000

Est. payment -/mo

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Active

12221 Peacock CT Garden Grove, CA 92841

8 Beds

10 Baths

6,018 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 6,018 sqft

Price per Sqft $382

MLS Listing ID 26634525

Bedrooms 8

HOA Y/N No

Year Built 1961

Lot Size 0.259 Acres

Property Description

12221 Peacock Ct presents a compelling opportunity to acquire a 10-unit multifamily asset in the heart of Garden Grove. Offered at $2,300,000, the property is priced at $382.19 per square foot and $230,000 per unit, positioning it competitively within the Orange County multifamily market. The asset offers a stable in-place cash flow with clear value-add potential through renovations that can drive higher rental income. At current operations, the property is offered at a 4.73% CAP rate with a 12.00 GRM, while the proforma CAP rate improves to 4.83% with a proforma GRM of 11.85, reflecting achievable income growth through unit upgrades and operational enhancements. These metrics highlight the property's ability to deliver consistent returns in a high-demand rental submarket. Constructed in 1961, the two-story building spans 6,018 square feet on an oversized 11,292 square-foot lot, zoned R-3, allowing for strong long-term value preservation. Situated on a desirable corner lot and surrounded by single-family homes, the property benefits from enhanced curb appeal, a quieter residential environment, and strong tenant demand. The combination of lot size, neighborhood character, and renovation potential positions the asset for long-term income growth and appreciation. Located in one of Garden Grove's most sought-after neighborhoods, 12221 Peacock Ct enjoys proximity to shopping centers, dining destinations, parks, and cultural hubs throughout Orange County. The area's strong employment base and residential character support high occupancy levels and competitive rental rates, driven by strong tenant demand and convenient access to employment centers and transportation corridors. RUBS for Year 2023: $5,936; Year 2024: $7,974.38, and Year 2025: $7,641.70 collected. Currently, 3 units are vacant.

Location

State CA

County Orange

Area 63 - Garden Grove S Of Chapman, W Of Euclid

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Laundry Common Area

Exterior

Parking Features Carport, Uncovered

Total Parking Spaces 10

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 13310249

Special Listing Condition Standard

Listed by Anisa Abji Coldwell Banker Realty

NEARBY SCHOOLS & PROPERTIES

SCHOOLSPROPERTIES

Elementary Schools 20

10

A. J. Cook Elementary School

Public | KG - 6
9

Sunnyside Elementary School

Public | KG - 6
9

Excelsior Elementary School

Public | KG - 6
8

Louis G. Zeyen Elementary School

Public | KG - 6
8

Stanford Elementary School

Public | KG - 6
8

Gilbert Elementary School

Public | KG - 6
8

Walt Disney Elementary School

Public | KG - 6
8

John Murdy Elementary School

Public | KG - 6
8

Susan B. Anthony Elementary School

Public | KG - 6
8

Ethel M. Evans Elementary School

Public | KG - 6
8

R. F. Hazard Elementary School

Public | KG - 6
8

Parkview Elementary School

Public | KG - 6
7

Albert Schweitzer Elementary School

Public | KG - 6
7

Jessie Hayden Elementary School

Public | KG - 5
7

Jonas E. Salk Elementary School

Public | KG - 6
7

Merton E. Hill Elementary School

Public | KG - 6
7

Faylane Elementary School

Public | KG - 6
7

Post Elementary School

Public | KG - 6
7

Rosita Elementary School

Public | KG - 6
7

Ocia A. Peters Elementary School

Public | KG - 6

Middle Schools 13

9

Sarah Mcgarvin Intermediate School

Public | 7 - 8
8

Donald S. Jordan Intermediate School

Public | 7 - 8
7

Alamitos Intermediate School

Public | 7 - 8
7

James Irvine Intermediate School

Public | 7 - 8
7

Dr. Walter C. Ralston Intermediate School

Public | 7 - 8
7

Izaak Walton Intermediate School

Public | 7 - 8
6

Warner Middle School

Public | 6 - 8
6

Louis Lake Intermediate School

Public | 7 - 8
3

Dale Junior High School

Public | 7 - 8
2

Polaris High (Alternative)

Public | 7 - 12
1

Ball Junior High School

Public | 7 - 8
0

Marie L. Hare High School

Public | 7 - 12
0

Community Day/Alternative Education/Special Education

Public | 7 - 12

High Schools 11

8

Bolsa Grande High School

Public | 9 - 12
8

Garden Grove High School

Public | 9 - 12
7

Westminster High School

Public | 9 - 12
6

Rancho Alamitos High School

Public | 9 - 12
3

Western High School

Public | 9 - 12
3

Loara High School

Public | 9 - 12
1

Magnolia High School

Public | 9 - 12
0

Cornelia Connelly School

Private | 9 - 12
0

Jordan Secondary Learning Center

Public | 9 - 12
0

Gilbert High (Continuation)

Public | 9 - 12
0

Lincoln High Continuation

Public | 9 - 12

School and business data provided by Attom Data.

Richard Chung

Agent | License ID: 01899002

+1(714) 865-3871

Richard Chung

12221 Peacock CT Garden Grove, CA 92841

Key Details

Location

Interior

Exterior

Building

Others

NEARBY SCHOOLS & PROPERTIES

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12221 Peacock CT