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33460677
33460683

9551 Maureen Drive, Garden Grove, CA 92841

TL
CA CA 01451551
Marcus & Millichap - Orange County
CT
CA 02111248
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County
$5,150,000
3 days on market
Updated 3 days ago
Opportunity zone

9551 - 9561 Maureen Drive Garden Grove, CA 92841

Details
APN 132-101-30
Property Type Multifamily
Sub Type Apartment Building
Square Footage 13,520
Units 16
Cap Rate 5.01%
NOI $258,111
Pro-Forma Cap Rate 5.8%
Pro-Forma NOI $298,766
Price per SqFt $381
Year Built 1960
Buildings 2
Stories 2
Acreage 0.500
Ownership Fee Simple

Featuring 100% Two-Bedroom Units

Marketing description

The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 9551 - 9561 Maureen Drive, a 16-unit multifamily community located in Garden Grove, California.

Situated on a 0.50-acre parcel, the asset totals approximately 13,520 net rentable square feet. The unit mix is composed entirely of two-bed/one-bath units, providing a desirable rental profile that is easy to manage and well-suited to the surrounding tenant base. The property consists of two buildings on one parcel, with community amenities including on-site laundry, a spacious central courtyard, and garage and surface parking. Parking is provided through 16 garage spaces and 2 surface spaces, offering ample parking options for residents.

Ownership has completed several recent capital improvements and property upgrades, including SB-721 completion in October 2025, walkway decking replacement, gas line replacement at 9551, roof replacement, garage door installation, fascia repairs/repainting, electrical panel/subpanel upgrades, and select interior unit upgrades. These improvements address several exterior, structural, and building system items while helping reduce near-term capital expenditure exposure.

Overall, 9551 - 9561 Maureen Drive offers a straightforward all two-bedroom unit mix, functional parking, a shared courtyard layout, and several completed capital improvements to major building systems. The completed improvements and remaining value-add opportunities position the property to benefit from future interior renovations, common-area enhancements, and operational efficiencies under new ownership.

*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*

Investment highlights

16-unit Garden Grove apartment community featuring 100% two-bed/one-bath units

Two-building layout with a spacious central courtyard and on-site laundry

16 garage spaces and 2 surface spaces providing functional resident parking

Recent improvements include SB-721 completion, roof replacement, decking replacement, electrical upgrades, and select interior upgrades

SB-721 completed in October 2025

Value-add opportunity through future interior renovations, common-area enhancements, and operational efficiencies

Strong Garden Grove location near Katella Avenue, Brookhurst Street, retail centers, restaurants, and daily-needs amenities

Approximately 2.5 miles from Disneyland and near Anaheim Resort area employment drivers

Nearby access to Harvest Fresh Markets, The Promenade at Garden Grove, Pavilion Plaza, and Hanmi Plaza

Listing Contacts

TL
CA CA 01451551
Marcus & Millichap - Orange County
CT
CA 02111248
Marcus & Millichap - Orange County
Listed by Marcus & Millichap - Orange County

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$258,111.00
$21,509.25/mo

Valuation Metrics

0
DSCR
5.01%
Cap Rate
5.01%
ROI

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Additional Information

Name
Tyler Leeson
License
CA 01451551
Brokerage Phone
7147139086
Name
Christian Tait
License
02111248
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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