R
Seller's Agent in 2021
Ralph Castaneda
Keystone Properties, Inc.
(714) 206-7173
8 Total Sales
14505 Corby Ave Norwalk, CA 90650
3
Beds
2
Baths
5,772
Sq Ft
0.26
Acres Lot
About This Home
As of July 2021The Corby Avenue Apartments are two four-unit apartment buildings located at 14505 and 14507 Corby Ave. in the City of Norwalk. The property offers an attractive unit mix comprised of one and two bedroom units. The property was acquired by the owner (a non-profit housing corporation) and has been an affordable rental complex with a rent-restriction covenant in place since acquisition. The owner received acquisition assistance from the city of Norwalk in the form of HOME funds. Upon the close of escrow, the city funds will be retuned and the rent restriction covenant will no longer be in place. This will allow a new owner to gradually raise the existing rents; and as the complex experiences turnover, bring the rents to full market. As a result the new owner may be able to obtain significant upside from the current rents and appreciation. The owner would prefer to sell both buildings simultaneously, however, will consider individual sales.
Last Agent to Sell the Property
Keystone Properties, Inc. License #01157402 Listed on: 03/17/2021
Last Buyer's Agent
Keystone Properties, Inc. License #01157402 Listed on: 03/17/2021
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 11,330 Sq Ft Lot
- Two or More Common Walls
- Sprinkler System
- Density is 26-30 Units/Acre
- 8074021045
Home Design
- 5,772 Sq Ft Home
- Property Attached
Bedrooms and Bathrooms
- 3 Bedrooms
- 2 Bathrooms
Laundry
- Laundry Room
Parking
- 3 Open Parking Spaces
- 11 Parking Spaces
- 8 Carport Spaces
Outdoor Features
- Exterior Lighting
- Rain Gutters
Listing and Financial Details
- Tax Lot 19
- Tax Tract Number 27086
- Assessor Parcel Number 8074021044
Community Details
Overview
- 2 Buildings
- 8 Units
Amenities
- Laundry Facilities
Building Details
- 8 Leased Units
- Rent Control
- 10 Separate Electric Meters
- 1 Separate Gas Meter
- 1 Separate Water Meter
- Electric Expense $697
- Fuel Expense $2,274
- Gardener Expense $1,590
- Insurance Expense $2,000
- Maintenance Expense $9,076
- Other Expense $831
- Pest Control $762
- Trash Expense $4,020
- Water Sewer Expense $4,989
- New Taxes Expense $25,000
- Operating Expense $51,551
- Gross Income $96,528
- Net Operating Income $45,293
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Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/19/2021 07/19/21 | Sold | $1,690,000 | -19.5% | $293 / Sq Ft |
| 03/29/2021 03/29/21 | Pending | -- | -- | -- |
| 03/17/2021 03/17/21 | For Sale | $2,100,000 | -- | $364 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Agents Affiliated with this Home
-
Ralph Castaneda
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW21054080
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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