10442 Lampson Ave - Apartments FOR SALE


Garden Grove, CA 92840
$12,350,000 USD
714-713-9086
10442 Lampson Ave, Garden Grove, CA for Sale
$12,350,000 USD
Apartments - FOR SALE
1/19
null | 5.08% Cap Rate

10442 Lampson Ave
Garden Grove, CA 92840


HIGHLIGHTS

  • Contemporary Renovations Across the Community: All 27 original units have been thoughtfully renovated with modern upgrades.
  • Brand-New ADUs Delivering Modern Living: Six accessory dwelling units added in 2023 offering highly desirable rental product within the community.
  • Secure & Convenient Resident Amenities: Controlled access with a call box, multiple laundry facilities, & a mix of carport, garage, & surface parking.
  • Value-Add Potential in Expansive Courtyards: Future ownership has the opportunity to further activate and improve outdoor resident amenities.
  • Proximity to Quality Schools: Just minutes from Garden Grove High School and other local educational institutions.
  • Retail & Dining at Tenants' Doorstep: The Promenade and Hanmi Plaza are close by, providing a wide range of grocery, dining, and shopping options.

OVERVIEW

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 10442 Lampson Avenue, a 33-unit multifamily community located in Garden Grove, California. Originally built as a 27-unit property, the asset was expanded in 2023 with the addition of six newly constructed accessory dwelling units (ADU), bringing the total to 33 two-bedroom, one-bathroom units. This desirable unit mix appeals broadly to couples, families, and professionals seeking functional layouts in a central Orange County location. The community has benefited from extensive interior renovations, with all of the original units upgraded to include contemporary finishes such as recessed lighting, quartz countertops, shaker-style cabinetry, vinyl flooring, stainless steel ranges with vent hoods, and modern bathroom vanities. Modern ceiling fans, faucets, and fixtures add both style and efficiency to the unit. The six newly built ADUs were designed with similar attention to detail, featuring dual-pane windows, mini-split air conditioning units, mirrored closet doors, quartz countertops, recessed lighting, and matching cabinetry and flooring, ensuring consistency throughout the property. Residents enjoy controlled access with a call box, on-site laundry facilities, and a variety of parking options including carport, garage, and surface spaces. The property is framed by attractive landscaping, and its spacious courtyards present future ownership with the opportunity to enhance common area utilization and add further resident amenities. 10442 Lampson Avenue represents a rare opportunity to acquire a renovated and recently expanded multifamily community in a supply-constrained market. With its consistent two-bedroom unit mix, upgraded interiors, and strategic Garden Grove location, the property offers durable tenant appeal and long-term investment stability. *Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

FOR SALE DETAILS

PRICE

$12,350,000 USD

PRICE/SF

$463 USD /SF

# OF UNITS

33

PRICE/UNIT

$374,242

CAP RATE

5.08%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.93 AC

LAND SF

40,511 SF

ZONING

R3, Garden Grove

APN/PARCEL ID

089-064-09

ASK ABOUT THIS PROPERTY

Tyler LeesonMarcus & MillichapMore Info
714-713-9086

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Tyler LeesonMarcus & MillichapMore Info
714-713-9086

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.