Recent Multifamily Property Sales in Garden Grove: A Market Overview
Garden Grove, California, is witnessing notable activity in its multifamily real estate sector, as evidenced by the recent sales of two multifamily properties totaling $17.36 million. These transactions, reflecting longstanding generational ownership transfers, highlight the ongoing demand for rental housing in a market characterized by limited supply. The properties, featuring a total of 48 units, were represented by CBRE, a leading global commercial real estate services company. Their sale signifies a pivotal trend for investors targeting the Southern California rental landscape.
Diversity in Property Types: A Closer Look at the Units
The first property, Meadow Grove, located at 13882 Clinton Street, features 33 units spread across five two-story buildings. With a total sale price of $12.91 million (approximately $391,333 per unit), the property has a notable 32,313 rentable square feet on a 1.52-acre lot. Originally constructed in 1985, Meadow Grove has been well-maintained, showcasing long-term ownership with significant capital improvements—over $665,000 invested recently alone. More than eight units are partially or fully renovated, and there’s potential for Accessory Dwelling Units (ADUs) through garage conversions.
According to Dan Blackwell, Executive Vice President at CBRE, the current rents align at approximately 15% below market, presenting a prime opportunity for prospective buyers looking to enhance rental income through upgrades and renovations.
On the other hand, the second property located at 12841–12879 Nutwood Street consists of 15 units across six distinct buildings, with a sale price of $4.45 million (about $296,667 per unit). This property also offers promising dimensions and features, including a combination of one-bedroom and two-bedroom layouts with private yards or balconies. The property’s advantageous location and strategic renovations make it well-positioned for future rent increases, especially given that current rents are approximately 32% below market rates.
A Thriving Rental Market
Garden Grove stands out as a high-demand rental market, bolstered by its excellent school systems and significant barriers to homeownership. The city’s proximity to major employment centers and diverse cultural districts continuously attracts investors looking for stability. Blackwell noted that average rent growth in the area is an impressive 4.6% annually, highlighting the potential for continued property appreciation.
The latest transactions indicate that the Orange County multifamily market is tightening, with an occupancy rate reaching 96.5% in Q2 2025, as per Amanda Fielder, a senior associate at CBRE. This increasing demand for rental properties strengthens the investment appeal for areas like Garden Grove.
Investment Opportunities in a Competitive Landscape
Both sales underscore an important trend: competitive interest in value-add opportunities. The successful marketing strategies employed by CBRE resulted in multiple tours and offers from prospective buyers, emphasizing the current investor appetite for properties that can be enhanced over time. The buyer of Meadow Grove, a Gardena-based entity, illustrates this growing trend of local investors capitalizing on properties that present opportunities for elevated rents and improved tenant experiences.
For multifamily investors, the properties sold represent not just immediate returns but also long-term growth potential in a thriving Garden Grove market. Investors keen on seizing such opportunities must be prepared for competitive bidding, as demonstrated by the multiple offers that reportedly emerged during the sales process.
The Role of CBRE in the Transaction Landscape
CBRE continues to play a pivotal role in shaping the Garden Grove real estate market. With a portfolio that includes 180 multifamily units available across Southern California, the firm’s expertise has proven instrumental in navigating complex sales processes. Their strategic marketing campaigns and deep understanding of market dynamics create a substantial advantage for both sellers and buyers.
As the world’s largest commercial real estate services and investment firm, CBRE maintains a robust presence not only in multifamily sales but across various sectors, providing integrated services that help to align investor goals with market trends. Interested parties can learn more about their offerings and data insights at CBRE’s official website.
Conclusion: A Market to Watch
The recent sales of Meadow Grove and Nutwood Street illustrate both the resilience and promise of the Garden Grove multifamily real estate market. With strong fundamentals such as limited supply, increasing rents, and substantial tenant demand, investors are likely to find continued opportunity in this vibrant community. As Garden Grove continues to attract investment, both seasoned real estate professionals and new entrants alike will benefit from the insights and strategies offered by firms like CBRE, ensuring they remain competitive in this fast-evolving landscape.
