7315 Norwalk Boulevard, Whittier, CA 90606

About this property

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.

Listing description from the September 2023 sale, as reported to CRMLS.

Sale history

$4,800,000

Sold September 2023 · listed $4,995,000, on market May 2023 · MLS #PW23090370 · Source: CRMLS

Listing Agent: Chris Keramati · Listing Office: Triqor Group · Contact: 949-756-3232 · Bought with: SARA COVARRUBIAS · UNITED CAPITAL REALTY

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