NOT LISTED FOR SALE

7315 Norwalk Blvd Whittier, CA 90606

West Whittier-Los Nietos Neighborhood
6 Beds
4 Baths
16,236 Sq Ft
2,078 Sq Ft Lot

Last Sold September 06, 2023

Last sale price $4,800,000 $296 Per Sq Ft

30 Days on Market

Highlights

  • Laundry Room
  • Daniel Phelan Language Academy Rated 9+
  • Rectangular Lot

About This Home

As of September 2023

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.

Last Agent to Sell the Property

Chris Keramati

Triqor Group License #01702116 Listed on: 05/23/2023

Last Buyer's Agent

Sara Covarrubias

CENTURY 21 ALLSTARS License #01751128

CENTURY 21 ALLSTARS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1962

Lot Details

  • 2,078 Sq Ft Lot
  • Two or More Common Walls
  • Rectangular Lot

Home Design

  • Apartment

Interior Spaces

  • 16,236 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 6 Bedrooms
  • 4 Bathrooms

Listing and Financial Details

  • Assessor Parcel Number 8176007036
  • $5,894 per year additional tax assessments

Community Details

Building Details

  • Rent Control
  • 18 Separate Electric Meters
  • Operating Expense $129,370
  • Gross Income $381,888
  • Net Operating Income $252,518

Additional Features

  • 18 Units
  • Laundry Facilities

Property Details

Home Type

Multi-Family

Year Built

Built in 1962

Lot Details

0

Listing Details

  • Price Per Unit: 277500
  • Property Attached: Yes
  • Zoning: LCR3YY
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Parcel Number: 8176007036
  • Year Built: 1962
  • Special Features: None

Interior Features

  • Stories: 2
  • Entry Location: /
  • Common Walls: 2+ Common Walls
  • Price Per Square Foot: 295.64

Exterior Features

  • Pool Private: No

Utilities

  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Rectangular Lot
  • Lot Size Sq Ft: 2078.00
  • Lot Size Acres: 0.0477

Multi Family

  • Gross Income: 381888.00
  • Gross Scheduled Income: 393699.00
  • Lot Size Area: 2078.0000 Square Feet
  • Net Operating Income: 252518.00
  • Number Of Separate Electric Meters: 18
  • Number Of Units Total: 18
  • Operating Expense: 129370.00
  • Rent Control: Yes
  • Total Expenses: 129370.00

Tax Info

  • Tax Census Tract: 5022.00
  • TaxOtherAnnualAssessmentAmount: 5894.00

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/06/2023 09/06/23 Sold $4,800,000 -3.9% $296 / Sq Ft
06/22/2023 06/22/23 Pending -- -- --
05/23/2023 05/23/23 For Sale $4,995,000 -- $308 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Chris Keramati

    Seller's Agent in 2023

    Chris Keramati

    Triqor Group

    (949) 756-3232

    2 in this area

    20 Total Sales

    Section Image
  • Sara Covarrubias

    Buyer's Agent in 2023

    Sara Covarrubias

    CENTURY 21 ALLSTARS

    (626) 975-9998

    1 in this area

    19 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23090370

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Whittier 90606 West Whittier-Los Nietos

7315 Norwalk Blvd, Whittier, CA

This home is located at 7315 Norwalk Blvd, Whittier, CA 90606 since 23 May 2023. This property was built in 1962. 7315 Norwalk Blvd is a home located in Los Angeles County with nearby schools including Daniel Phelan Language Academy, Katherine Edwards Middle School, and Pioneer High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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