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Faircrest Apartments 12645 Norwalk Blvd 24 Unit Apartment Building $7,950,000 ($331,250/Unit) 4.60% Cap Rate Norwalk, CA 90650
Investment Highlights
- Significant Rental Upside Through A Comprehensive Contemporary Renovation Program to All Units
- High Demand Rental Market With a High Barrier To Entry
- Gateway Submarket Surrounded By Jobs in the 605 Corridor, and Quick and Convenient Commutes to South Bay, Los Angeles and Orange County
- Desirable Unit Mix Including Studio, One-Bedrooms, Two-Bedrooms and Three-Bedrooms
- Low In-place Rents Compared to Market
Executive Summary
The Faircrest Apartments were constructed in 1963 with wood frame and stucco construction. The property is situated on 0.64 acres of land, providing a density of
38 units per acre. Tenants can utilize the common area amenities which include a beautiful swimming pool, a BBQ area and courtyard. The property has a laundry
facility for the residents' use. The parking consists of 34 covered carport spaces. The property has been well-cared for over the ownership term and has maintained
a historically high occupancy level. The unit mix is highly desirable with (1) studio, (3) one-bedrooms, one-baths, (15) two-bedroom, one-bath, (3) two-bedroom,
two-baths and (2) three-bedrooms, two-baths offering variety of tenants and rental rates. Total net rentable square footage is 21,105 and the average units size is
879 square feet.
All but three of the units have been updated with quartz or granite countertops, and all units have new electrical panels. Only 11 of the 24 units have had other
interior renovations on turn as needed such as vinyl plank flooring or new carpet.
38 units per acre. Tenants can utilize the common area amenities which include a beautiful swimming pool, a BBQ area and courtyard. The property has a laundry
facility for the residents' use. The parking consists of 34 covered carport spaces. The property has been well-cared for over the ownership term and has maintained
a historically high occupancy level. The unit mix is highly desirable with (1) studio, (3) one-bedrooms, one-baths, (15) two-bedroom, one-bath, (3) two-bedroom,
two-baths and (2) three-bedrooms, two-baths offering variety of tenants and rental rates. Total net rentable square footage is 21,105 and the average units size is
879 square feet.
All but three of the units have been updated with quartz or granite countertops, and all units have new electrical panels. Only 11 of the 24 units have had other
interior renovations on turn as needed such as vinyl plank flooring or new carpet.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $7,950,000 | Building Class | C |
| Price Per Unit | $331,250 | Lot Size | 0.64 AC |
| Sale Type | Investment | Building Size | 21,145 SF |
| Cap Rate | 4.60% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | COPF, Norwalk - Residential | ||
| Price | $7,950,000 |
| Price Per Unit | $331,250 |
| Sale Type | Investment |
| Cap Rate | 4.60% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 21,145 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | COPF, Norwalk - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Ceiling Fans
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Laundry Facilities
- Pool
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 550 |
| 1+1 | 3 | - | 700 |
| 2+1 | 16 | - | 875 |
| 2+2 | 2 | - | 950 |
| 3+2 | 2 | - | 1,240 |
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Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 8047-004-014 | Improvements Assessment | $789,457 (2025) |
| Land Assessment | $251,944 (2025) | Total Assessment | $1,041,401 (2025) |
Property Taxes
Parcel Number
8047-004-014
Land Assessment
$251,944 (2025)
Improvements Assessment
$789,457 (2025)
Total Assessment
$1,041,401 (2025)
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