12221 Peacock CT Garden Grove CA 92841 MLS #26634525

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.