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9661-9671 Maureen Dr 12 Unit Apartment Building $6,423,638 CAD ($535,303 CAD/Unit) 5% Cap Rate Garden Grove, CA 92841
Investment Highlights
- Turnkey 12-unit multifamily asset with extensive 2025 renovations
- Three vacant units providing immediate lease-up at market rents
- Many units offer no neighbors above or below, enhancing privacy and livability
- All 2 Bed/1 Bath units offering broad and consistent rental appeal
- Desirable layout with a mix of single-story units and a two-story building with garages
- Garages (12 spaces) and surface (4 spaces) on a spacious 0.44-acre parcel
Executive Summary
The Leeson Group is pleased to present the opportunity to acquire 9661 - 9671 Maureen Drive, a heavily renovated 12-unit multifamily community located in Garden Grove, California.
Constructed in 1958 and extensively renovated in 2025, the property features a desirable unit mix of 12 two-bed/one-bath units across a combination of single-story buildings and a two-story structure with ground-level garages, offering units with no neighbors above or below.
Ownership has completed a comprehensive renovation program across all units, with improvements ranging from upgraded flooring, fixtures, and fresh interior paint to fully renovated unit interiors. Multiple units have already achieved market-leading rents for comparable properties in the area, demonstrating strong in-place income.
Currently, three units are vacant, providing immediate upside for a new owner to lease at market rents from day one or implement additional upgrades to further enhance rental income.
The property sits on a 0.44-acre parcel and offers a strong parking ratio with 12 single-car garages and 4 surface spaces, along with on-site laundry, security doors, and a central courtyard that supports tenant appeal and retention.
9661 - 9671 Maureen Drive represents a compelling opportunity to acquire a renovated asset with proven rental performance and immediate income upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Constructed in 1958 and extensively renovated in 2025, the property features a desirable unit mix of 12 two-bed/one-bath units across a combination of single-story buildings and a two-story structure with ground-level garages, offering units with no neighbors above or below.
Ownership has completed a comprehensive renovation program across all units, with improvements ranging from upgraded flooring, fixtures, and fresh interior paint to fully renovated unit interiors. Multiple units have already achieved market-leading rents for comparable properties in the area, demonstrating strong in-place income.
Currently, three units are vacant, providing immediate upside for a new owner to lease at market rents from day one or implement additional upgrades to further enhance rental income.
The property sits on a 0.44-acre parcel and offers a strong parking ratio with 12 single-car garages and 4 surface spaces, along with on-site laundry, security doors, and a central courtyard that supports tenant appeal and retention.
9661 - 9671 Maureen Drive represents a compelling opportunity to acquire a renovated asset with proven rental performance and immediate income upside.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$488,196
|
$58.61
|
| Other Income |
$4,418
|
$0.53
|
| Vacancy Loss |
$14,646
|
$1.76
|
| Effective Gross Income |
$477,969
|
$57.39
|
| Taxes |
$75,152
|
$9.02
|
| Operating Expenses |
$81,917
|
$9.84
|
| Total Expenses |
$157,068
|
$18.86
|
| Net Operating Income |
$320,900
|
$38.53
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $488,196 |
| Annual Per SF | $58.61 |
| Other Income (CAD) | |
|---|---|
| Annual | $4,418 |
| Annual Per SF | $0.53 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,646 |
| Annual Per SF | $1.76 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $477,969 |
| Annual Per SF | $57.39 |
| Taxes (CAD) | |
|---|---|
| Annual | $75,152 |
| Annual Per SF | $9.02 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $81,917 |
| Annual Per SF | $9.84 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $157,068 |
| Annual Per SF | $18.86 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $320,900 |
| Annual Per SF | $38.53 |
Property Facts
| Price | $6,423,638 CAD | Apartment Style | Garden |
| Price Per Unit | $535,303 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 5% | Building Size | 8,329 SF |
| Gross Rent Multiplier | 13.04 | No. Stories | 2 |
| No. Units | 12 | Year Built | 1958 |
| Property Type | Multifamily | Parking Ratio | 1.92/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R3, Garden Grove - Multiple Family Residential | ||
| Price | $6,423,638 CAD |
| Price Per Unit | $535,303 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Gross Rent Multiplier | 13.04 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 8,329 SF |
| No. Stories | 2 |
| Year Built | 1958 |
| Parking Ratio | 1.92/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, Garden Grove - Multiple Family Residential |
Amenities
Unit Amenities
- Double Pane Windows
- Vinyl Flooring
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | 693 - 696 |
1 1
Moderately walkable
60/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 132-101-14 | Total Assessment | $4,996,413 CAD (2025) |
| Land Assessment | $4,487,801 CAD (2025) | Annual Taxes | $75,152 CAD ($9.02 CAD/SF) |
| Improvements Assessment | $508,612 CAD (2025) | Tax Year | 2026 Payable 2026 |
Property Taxes
Parcel Number
132-101-14
Land Assessment
$4,487,801 CAD (2025)
Improvements Assessment
$508,612 CAD (2025)
Total Assessment
$4,996,413 CAD (2025)
Annual Taxes
$75,152 CAD ($9.02 CAD/SF)
Tax Year
2026 Payable 2026
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9661-9671 Maureen Dr
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