NOT LISTED FOR SALE

14501 Arlee Ave Norwalk, CA 90650

8 Beds
6 Baths
2,816 Sq Ft
0.26 Acres Lot

Sale Details

Date Sold: March 30, 2021

Last sale price $1,550,000 $550 Per Sq Ft

26 Days on Market

Highlights

  • Lawn
  • Landscaped
  • Bike Trail
  • Laundry Room

About This Home

As of March 2021

Pleased to present you with an outstanding opportunity located at 14501 Arlee Ave, Norwalk CA. 90650! This turnkey property offers SIX spacious units that sit on a double lot of 11,500 square feet! Not only does this property offer six garages, but it also offers plenty of additional parking! Four of the units contain one bedroom & one bathroom each, and two units contain two bedrooms & one bathroom each! The current owners have done a tremendous job of bringing this property back to life by fully remodeling the kitchens, bathrooms, and the flooring! They have added new exterior features and completely changed the landscaping which offers a beautiful curb appeal! This is an opportunity that will not last. Unlike most commercial multi-family properties, this property is unique in which it is located in a prime residential neighborhood! There is a community laundry area that serves that can serve as an additional form of income! If you are looking for a turnkey property with great annual income then look no further! Lets make an offer today!

Last Agent to Sell the Property

Alberto Sanchez

Century 21 Allstars License #02028262 Listed on: 02/03/2021

Century 21 Allstars

Last Buyer's Agent

JUAN COVARRUBIAS

UNITED CAPITAL REALTY License #01227114

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1922

Lot Details

  • 11,472 Sq Ft Lot
  • No Common Walls
  • Landscaped
  • Lawn
  • Garden
  • Back Yard

Parking

  • 6 Car Garage

Home Design

  • 2,816 Sq Ft Home

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 6 Bathrooms

Additional Features

  • Laundry Room
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Legal Lot and Block 19 / I
  • Tax Tract Number 5260
  • Assessor Parcel Number 8073010015

Community Details

Overview

  • 2 Buildings
  • 6 Units

Amenities

  • Laundry Facilities

Recreation

  • Bike Trail

Building Details

  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,268
  • Trash Expense $1,809
  • Water Sewer Expense $1,644
  • New Taxes Expense $11,725
  • Operating Expense $16,446
  • Gross Income $116,736
  • Net Operating Income $100,290

Property Details

Home Type

Multi-Family

Year Built

Built in 1922

Lot Details

0.26 Acres

Parking

6

Listing Details

  • CapRate: 6.50
  • Property Attached: No
  • Water Sewer Expenses: 1644.00
  • Zoning: NOR1*
  • Property Type: Residential Income
  • Parcel Number: 8073010015
  • Year Built: 1922
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: No Common Walls
  • Price Per Square Foot: 550.43

Exterior Features

  • Pool Private: No

Garage/Parking

  • Garage Spaces: 6.00
  • Total Parking Spaces: 6.00

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area, Community
  • Sewer: Public Sewer
  • Trash Expense: 1809.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Community Features: Biking, Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Back Yard, Garden, Landscaped, Lawn
  • Lot Size Sq Ft: 11472.00
  • Lot Size Acres: 0.2634

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 116736.00
  • Gross Multiplier: 13.30
  • Gross Scheduled Income: 116736.00
  • Insurance Expense: 1268.00
  • Lot Size Area: 11472.0000 Square Feet
  • Net Operating Income: 100290.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 6
  • Operating Expense: 16446.00
  • Rent Control: No
  • Total Actual Rent: 9728.00
  • Total Expenses: 16446.00

Tax Info

  • New Taxes Expense: 11725.00
  • Tax Block: I
  • Tax Census Tract: 5527.00
  • Tax Lot: 19
  • Tax Tract Number: 5260
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Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
03/30/2021 03/30/21 Sold $1,550,000 0.0% $550 / Sq Ft
03/01/2021 03/01/21 Pending -- -- --
02/03/2021 02/03/21 For Sale $1,550,000 +101.3% $550 / Sq Ft
03/12/2018 03/12/18 Sold $770,000 0.0% $273 / Sq Ft View Prior Sale
02/22/2018 02/22/18 Pending -- -- --
02/21/2018 02/21/18 For Sale $769,950 -- $273 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $22,007 $1,677,767 $920,066 $757,701
2024 $21,556 $1,644,871 $902,026 $742,845
2023 $20,813 $1,612,620 $884,340 $728,280
2022 $20,378 $1,581,000 $867,000 $714,000
2021 $13,009 $946,060 $614,939 $331,121
2020 $12,707 $937,420 $608,634 $328,786
2019 $12,650 $919,060 $596,700 $322,360
2018 $11,726 $865,805 $480,414 $385,391
2016 $11,218 $831,168 $461,760 $369,408
2015 $9,704 $700,000 $350,000 $350,000
2014 $6,766 $802,648 $445,915 $356,733
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW21022697

California Regional Multiple Listing Service (CRMLS)
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