$1,460,000
●
House -
Off Market
11081 Iris Drive
Garden Grove, CA 92840
6 Beds
4 Baths
2,080 Ft²
$7,361
Est. Monthly
About This Property
Incredible 2-UNITS ON ONE LOT for $787,500 Each UNIT In the heart
of Garden Grove. Don't miss this opportunity to own a highly
desirable property featuring a fully remodeled home and a brand-new
construction Detached Single Family Home - perfect for investors,
1031 exchange buyers, or owner-occupiers seeking rental income.
Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3BED / 2BATH 1,030 SF with a 2-car garage, Central A/C & Heat. Market Rent: $4,000/month.
Unit 2 – Fully Remodeled - Spacious 3BED / 2BATH approx. 1,050 SF with 2-car driveway parking, Central A/C & Heat. Current Rent $3,500/month.
Total Rental Income: $7,500/month.
Separate Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups.
With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Garden Grove neighborhood close to schools, shopping, dining, and freeway access.
Unit 1 – BRAND NEW Detached Single Family Home (Built in 2025) - Modern 3BED / 2BATH 1,030 SF with a 2-car garage, Central A/C & Heat. Market Rent: $4,000/month.
Unit 2 – Fully Remodeled - Spacious 3BED / 2BATH approx. 1,050 SF with 2-car driveway parking, Central A/C & Heat. Current Rent $3,500/month.
Total Rental Income: $7,500/month.
Separate Gas & Electricity meters – tenants pay all utilities. Each unit features open-concept layouts, modern cabinetry, quartz countertops, high-end appliances, vinyl flooring, Central A/C & Heat, recessed lighting, walk-in closets, and in-unit washer/dryer hookups.
With quality renovations and new construction, this is a low-maintenance property for the next 10+ years. Located in a prime Garden Grove neighborhood close to schools, shopping, dining, and freeway access.
Unit Size
2,080 Ft²
Days on Market
144 days
Land Size
0.17 acres
Price per sqft
$721
Property Type
House
Property Taxes
-
HOA Dues
-
Year Built
1950
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 10 months ago (CRMLS #OC25158558)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Dec 19, 2025 | Sold | ||
| Sold | |||
| Dec 2, 2025 | In contract | - | |
| In contract | |||
| Oct 30, 2025 | Price Decreased |
$1,499,000
↓ $46K
(3%) | |
| Price Decreased | |||
| Sep 12, 2025 | Price Decreased |
$1,545,000
↓ $30K
(1.9%) | |
| Price Decreased | |||
| Jul 28, 2025 | Listed by Real Broker | $1,575,000 | |
| Listed by Real Broker | |||
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Property Highlights
Garage
Air Conditioning
Fireplace
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
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Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
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Closing Price
Sold On
Sold On
HOA + Taxes
About Garden Grove
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Listed by: Nhi Phan, Real Broker
Last Updated: 10 months ago
Data Source: CRMLS, MLS# OC25158558
Last Updated: 10 months ago
Data Source: CRMLS, MLS# OC25158558
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