10442 LAMPSON AVENUE
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EXECUTIVE SUMMARY
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COMPARABLE PROPERTIES
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FINANCIAL SUMMARY MARKET OVERVIEW
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Executive Summary
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40,477 26,700
The Opportunity
10442 Lampson Avenue offers investors the opportunity to acquire a significantly upgraded and expanded multifamily community located in Garden Grove. The 33-unit property combines the stability of an established apartment community with the benefit of recently added construction, creating an attractive balance of dependable cash flow and modern product quality.
The asset is comprised entirely of two-bedroom, one-bathroom units, providing operational simplicity and much broader tenant appeal. The original units have been extensively renovated with contemporary interior finishes, while the six newly developed ADUs seamlessly integrate into the property with similar updated design elements and modern building systems that align with today’s renter expectations. Both interior layouts feature vinyl flooring, quartz countertops, recessed lighting, shaker-style cabinetry, stainless steel ranges with vent hoods, and modern bathroom vanities.
Current ownership has invested substantial capital into improving the property, resulting in a cohesive residential environment with upgraded interiors, improved functionality,
and minimized deferred maintenance concerns for future ownership. The community also features controlled access, on-site laundry, and a flexible mix of garage, carport, and surface parking to accommodate residents.
Positioned near major retail corridors and commuter routes, the property benefits from convenient access to shopping centers, restaurants, schools, parks, and regional employment hubs throughout Orange County. Nearby freeway access via State Route 22 further enhances connectivity to surrounding business districts and coastal markets, supporting long-term rental demand from a diverse tenant base.
With a recently completed expansion, consistent unit configuration, and extensive property improvements already in place, 10442 Lampson Avenue presents a compelling investment opportunity for buyers seeking a stabilized multifamily asset with strong fundamentals in a supply-constrained Southern California submarket. UNITS BUILDINGS
FULLY RENOVATED IN 2022
6 NEWLY BUILT ADUS
SPACIOUS COURTYARD
MULTIPLE PARKING OPTIONS, INCLUDING BOTH
GARAGE, COVERED, AND SURFACE SPACES
TURNKEY INVESTMENT
REROOF LAYER IN 2020
SB-721 INSPECTION COMPLETED JULY 31, 2025
Amenities
ON-SITE LAUNDRY FACILITY
GARAGE, TUCK-UNDER, AND SURFACE PARKING
SECURITY DOORS
SPACIOUS COURTYARD
VIRTUALLY STAGED
Exterior Renovations
NEW PAINT
LANDSCAPING
PRIVATE PATIOS
REROOF LAYER
(COMPLETED IN 2020)
VIRTUALLY STAGED
Interior Renovations
FULLY UPDATED BATHROOMS
CEILING FANS
SCAN HERE FOR FULL GALLERY
DUAL-PANE WINDOWS
QUARTZ COUNTERTOPS
MODERN FAUCETS
RECESSED LIGHTING
SHAKER-STYLE CABINETS
STAINLESS STEEL APPLIANCES
VINYL FLOORING
CENTRAL A/C SYSTEMS
Financial Summary
Rent Comparables
Renovated & new construction (flooring, cabinets, appliances, HVAC, bathrooms, lighting & more); Spacious common courtyard; Private patios & yards (select units); On-site laundry & in-unit laundry (select units); Garage, tuck-under, & surface parking
Garden Grove's Market IS RIPE FOR INVESTMENT
Investment Thesis: Garden Grove offers investors a compelling combination of sub-4% vacancy, above-market rent growth (~4% YoY vs. 2% OC avg), and a limited new supply pipeline. These fundamentals support durable, in-place cash flow for stabilized assets. With 46% of households renter-occupied and a median home value of $814K, nearly 2.5x the national average, the city maintains a deep, structurally committed renter base that limits turnover risk and underscores long-term income stability. For investors seeking a fully renovated, income-producing asset in a supply-constrained Southern California submarket, Garden Grove delivers the demand foundation to sustain it.
