Whittier, CA 90606,7315 Norwalk BLVD
Whittier, CA 90606,7315 Norwalk BLVD
Whittier, CA 90606,7315 Norwalk BLVD
Whittier, CA 90606,7315 Norwalk BLVD
Whittier, CA 90606,7315 Norwalk BLVD
Whittier, CA 90606,7315 Norwalk BLVD
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$4,800,000

$4,995,000

3.9%
Est.Price: ?

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Est. payment /mo

2,077 Sqft Lot


SOLD DATE : 09/06/2023

Key Details

Sold Price $4,800,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

MLS Listing ID PW23090370

Sold Date 09/06/23

HOA Y/N No

Year Built 1962

Lot Size 2,077 Sqft

Property Description

The Norwalk Apartments in Whittier represent an excellent investment opportunity for any investor looking for upside potential in a growing real estate market. The property boasts a 5.1% Cap Rate and 12.69 GRM on current income, indicating strong cash flow. The building contains large 1, 2, and 3-bedrooms and has undergone recent exterior improvements, such as a new carport roof and asphalt, have been completed, ensuring that the property is well-maintained and visually appealing. The building is fully electric, with individual meters and water heaters, ensuring low utility costs for tenants and the landlord. Based on market rents, the property has an approximate 7% Cap Rate and 10 GRM, indicating significant upside potential for increased cash flow. Additionally, 5 units have undergone high-end unit turns, further adding to the property’s value by justifying the market rent. Overall, the Norwalk Apartments represent a sound investment with significant potential for growth and strong current cash flow.

Location

State CA

County Los Angeles

Area 670 - Whittier

Zoning LCR3YY

Interior

Fireplace No

Laundry Common Area

Exterior

Pool None

Community Features Sidewalks

Private Pool No

Building

Lot Description Rectangular Lot

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 8176007036

Acceptable Financing Conventional

Listing Terms Conventional

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Chris Keramati • Triqor Group
Bought with SARA COVARRUBIAS • UNITED CAPITAL REALTY
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880 Roosevelt Suite 250, Irvine, California, 92620, United States

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