10622 Tibbs CIR new Save Request In-Person Tour Request Virtual Tour
Garden Grove,CA 92840
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC25112645
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 Common Area
Exterior
Parking Features Assigned,Door-Multi,Garage,Garage Faces Rear
Garage Spaces 16.0
Garage Description 16.0
Pool Community
Community Features Urban,Pool
Utilities Available Cable Available,Electricity Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected
View Y/N No
View None
Roof Type Rolled/Hot Mop
Building
Lot Description Sprinklers In Front,Sprinkler System
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing 1031 Exchange
Listing Terms 1031 Exchange
Special Listing Condition Standard