Home Buying in 92840>Question Details

Jen, Home Buyer in OC

Is 92840 in Garden Grove a great area to invest in for a rental condo?

Asked by Jen, OC Fri May 2, 2008

I found a listing for a brand new condo in Chapman/Harbor for $350,000. Its a 2BR/2BA and mezzanine on the top floor of a 4-story condo. At a rental rate of approx $2100, I would be close to breaking even. What appreciation rate could I expect from this area? There is a similar unit in Irvine by Jamboree but costs $450,000. Where should I invest my $100,000 on?

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Garden Grove is holding its own among other city as far as property values. But Irvine is a better area, and will always be higher. You need to look at properties in both cites and compare and then decide.
0 votes Thank Flag Link Wed Jun 23, 2010
If you are still looking for an investment, there are several condos that will cashflow in central Garden Grove right now. You can search for all foreclosures at http://www.GardenGroveHomesOnline.com .
0 votes Thank Flag Link Fri Feb 6, 2009
I don't know if you would consider Long Beach. There are some great buys by the beach and the Downtown area. i recently sold a top floor condo, one bedroom, one bath with parking for $152,000 . This could easily be rented for $1200 a month with $72K down you would have about a $600 month cash flow and have enough cash to buy another one. The HOA dues in most of the older buildings are very low from $150-$200 a month.

I can also have the most current REOs/Foreclosures & Probate Listings emailed directly to you. There are some great buys here. Just sold a completely upgraded 3 bed, 2 bath foreclosure in the area around CSULB for $490K.

Just some ideas! If you have any interest, feel free to contact me and I would love to email you some current great buys! I have been in the business for 28+ years and would love the opportunity to be of help!

Barbara Robbins-Olexa
L B Brokerage
http://www.b arbararobbinsolexa.com
0 votes Thank Flag Link Thu Oct 2, 2008
The rent is too high you can get better in Irvine for $1800. What appreciation rate? This area is not appreciating right now...it's depreciating.
search all listings below

0 votes Thank Flag Link Thu Sep 11, 2008
I am an expert in Garden grove and know the units you are talking about. $2,100 a month rent is aggressive. When you look at your HOA dues and prop. tax, is $2,100 still break even?

You can get townhouses in higher rent areas for $350,000 and even single family homes with no HOAs in this area. Call me if you would like to chat or check out the website http://www.400kHomes.com to see just how many there are now.
Web Reference: http://www.400Khomes.com
0 votes Thank Flag Link Thu May 8, 2008
Hi there Jen. This area is getting overflow of develpment from Anaheim and will get more Investment in the next 5-10 years. If you are looking for some really good investmet properties, please let me know, we have plenty all with substantial positive cash flow

Kind Regards
Michael Barron
Real Estate Consultant
First Team Real Estate
(714) 552-6817
0 votes Thank Flag Link Sat May 3, 2008
If your looking for positive cash flow, then look further south to San Juan Capistrano. I can show you properties that you can make $200-$300 a month in positive cash flow.
Give me a call or email me for details.

Joe Homs
Realty Partners
Web Reference: http://www.joehoms.com
0 votes Thank Flag Link Sat May 3, 2008
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