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$ 4,400,000
Est. payment /mo
New
13211 Nelson ST Garden Grove, CA 92843
20 Beds
14 Baths
11,137 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 11,137 sqft
Price per Sqft $395
MLS Listing ID 26996381
Bedrooms 20
HOA Y/N No
Year Built 1960
Lot Size 0.386 Acres
Property Description
Ravenwood Arms presents a rare opportunity to acquire a 14 unit multifamily property in a highly desirable Orange County rental market. Ideally situated near major Southern California destinations, the property offers convenient access to Knott's Berry Farm, Disneyland Resort, shopping centers, restaurants, and everyday conveniences, supporting strong long-term rental demand. The property is centrally located with easy access to major freeways, including the 22, 405, 5, and 55, providing residents with convenient connectivity throughout Orange County and the greater Los Angeles area. The location also boasts a Walk Score of 81/100, with dining, groceries, shopping, and other daily necessities accessible on foot. Originally constructed in 1960, The Ravenwood Arms features an attractive unit mix consisting of six spacious 2 bedroom/1 bathroom apartments and eight 1 bedroom/1 bathroom units. Unit 1 (2Bd/1Ba), as listed on the rent roll, is expected to become vacant in December 2026. A potential market rent of $2,500 has been indicated for the unit. A key component of the investment opportunity is the property's significant rental upside. Current rents are approximately 38% below projected market rents, providing investors with an opportunity to increase rental income and grow property cash flow through the continued implementation of a value-add strategy. Each apartment is individually metered for electricity and gas, while water is master metered. Community amenities include a well-maintained swimming pool and a shared laundry room. The property has benefited from several recent capital improvements, including replacement of decking, stairs, and railings; newer doors and windows; and resealing of the blacktop parking area. The property provides 14 uncovered assigned parking spaces at the rear of the building along with ample nearby street parking. With its desirable Orange County location, functional unit mix, recent property improvements, and access to major employment and entertainment destinations, Ravenwood Arms offers an attractive opportunity for investors seeking a value-add strategy or a long-term multifamily hold.
Location
State CA
County Orange
Area 66 - N Of Blsa, S Of Ggrv, E Of Brookhrst, W Of Ha
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Uncovered
Pool In Ground
Total Parking Spaces 14
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 09908251
Special Listing Condition Standard
Listed by Sean Riley CB Richard Ellis, Inc. #01920511