- 14 UNITS – 12 x 2 Bed / 1.5 Bath Town Homes & 2 x One Bed / One Bath Units
- PARKING FOR 20 CARS, excellent off-street parking
- FULLY SECURED Building at entrance and parking area
- PRIVATE PATIOS for all two bedroom units with living room access
- 15% UPSIDE IN RENTS
Commercial Real Estate Properties is pleased to present this 14 unit multi-family apartment complex located on the corner of Norwalk & Sheridan Street at 14022 Norwalk Boulevard in the City of Norwalk, CA. 90650. Built in 1970, this two-story, garden style apartment building sits on a 19,944 square-foot lot with approximately 13,914 rentable square feet. The subject property has a desirable mix of twelve (12) x two bedroom / 1 1⁄2 bath, two story-townhome units, each approximately 1,025 sq. ft. and two (2) x one bedroom / one bath units , each measuring approximately 800 sq. ft. Each unit is separately metered for gas and electricity.
This secured building offers a fully gated entrance to the building on Norwalk Boulevard and electronic gate into the parking area with access from Sheridan Street. Excellent off-street parking is provided by 9 covered- tuck under carports, 9 covered carports and 2 open for a total of 20 off street spaces. The central courtyard of the property is well landscaped, has plenty of shade and a common sitting area for residents to enjoy. In addition, all 12 x two bedroom / 1.5 bath townhomes each with their own private patio area, access is off the living room. On-site laundry facilities are provided inside a separate building within the complex.
Very high rental demand, as Norwalk is the 14th most populous city in Los Angeles County, 58th in California and the 255th nationally. Bordered by the cities of Downey, Bellflower, Cerritos and Artesia with easy access to the I-5 and I-605 freeways.
The offering gives an investor the chance to own a well located, fully secured property with an excellent unit mix of 85% two bedroom/ 1.5 townhomes, all units are large. Plenty of off-street parking, all units are separately metered and there is 15%+ upside in rents.
This is exactly the kind of deal you want to buy.
Building Size: 13,900
Lot Size: 19,944 sf
Cap Rate: Actual : 3.69% / Mkt : 5.4%
Price Per Sq Ft: $230.22
Address: 14022 Norwalk Blvd
Year Built: 1970
Price Per Unit: $228,571
Rentable Sq Ft: 13,900
GRM: Actual :15.44 / Mkt : 12.07