CA > Garden Grove
Garden Grove, CA 92840,10622 Tibbs Circle
Garden Grove, CA 92840,10622 Tibbs Circle
Garden Grove, CA 92840,10622 Tibbs Circle
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$5,250,000
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4 SqFt
Active

10622 Tibbs Circle Garden Grove, CA 92840

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Glenn Dormer

Glenn Dormer

+1(805) 660-0739

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 4 sqft

Price per Sqft $1,312,500

MLS Listing ID OC-25112645

Year Built 1960

Lot Size 0.450 Acres

Property Sub-Type Apartment

Property Description

Turnkey 17-Unit Apartment Investment in Prime Garden Grove Welcome to 10622 Tibbs Circle, a rare opportunity to acquire a well-maintained 16 + 1 unit apartment complex located in a quiet cul-de-sac in the heart of Garden Grove. This property has been thoughtfully cared for by long-term ownership, with an average of over $30,000 spent annually on capital improvements over the past 5+ years. Major upgrades include a full copper repipe of the entire building and a complete roof replacement completed in 2012--providing peace of mind and reducing future maintenance costs for the next investor. The apartment offers a desirable mix of one-bedroom and two-bedroom units, many of which have been updated. Residents enjoy the convenience of ample on-site parking, shared laundry facilities, and a spacious central courtyard that fosters a sense of community. Current rents remain below market, presenting a significant value-add opportunity for the next owner through rent increases or further interior renovations. Ideally situated near Little Saigon, top-rated schools, shopping centers, and major freeways including the 22, 5, and 405, the location ensures high tenant demand and long-term rental stability. With its strong in-place income, solid physical condition, and potential for growth, 10622 Tibbs Circle is an ideal fit for investors seeking a stabilized asset with upside in one of Orange County's most sought-after rental markets.

Location

State CA

County Orange

Area 62 - Garden Grove N Of Chapman, W Of Euclid

Interior

Heating Ductless

Cooling Ductless

Flooring Laminate, Tile, Vinyl

Fireplaces Type None

Laundry Community

Exterior

Parking Features Garage - Three Door, Garage - Two Door, Garage Faces Rear, Assigned

Garage Spaces 16.0

Pool Community

Community Features Urban

Utilities Available Sewer Connected, Water Connected, Cable Available, Electricity Connected, Natural Gas Connected, Phone Available

View Y/N No

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Building

Lot Description Sprinkler System, Sprinklers In Front

Sewer Public Sewer

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Glenn Dormer

Glenn Dormer

Managing Partner | License ID: 01268924

+1(805) 660-0739

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10622 Tibbs Circle