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15627 Belshire Ave 9 Unit Apartment Building $2,699,000 ($299,889/Unit) 4.21% Cap Rate Norwalk, CA 90650
INVESTMENT HIGHLIGHTS
- EXCELLENT RENAL LOCATION
- GREAT UNIT MIX OF ALL 2-BEDROOM / 1-BATH UNITS
- SUBSTANTIAL RENT UPSIDE - SUBJECT TO AB 1482 ONLY
- BEAUTIFUL TURNKEY BUILDING
- EACH UNIT HAS A 2-CAR GARAGE WITH WASHER & DRYER HOOK-UPS
- SECURED ENTRY
EXECUTIVE SUMMARY
MAJOR PRICE IMPROVEMENT - The subject is a beautiful turnkey building that was built in 1987 located in the excellent rental market of Norwalk, near freeways and other support facilities. There is no local rent control in Norwalk and the property is subject to AB-1482 only. The building is 6,933 square feet and sits on a 15,750 square foot rectangular lot. The unit mix is excellent and consists of 9 two-bedroom / 1-bath units, each with a 2-car garage. Each garage has a washer and dryer hookup. There are also 2 open guest parking spaces. The building was recently painted, the landscape redone, and exhibits excellent curbside appeal. The units are individually metered for gas and electricity, and access to the property is secured. There's substantial rent upside. Please do not contact the tenants. Contact listing agent for financials and additional information.
PROPERTY FACTS In Escrow
| Price | $2,699,000 | Apartment Style | Low-Rise |
| Price Per Unit | $299,889 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 4.21% | Building Size | 6,933 SF |
| Gross Rent Multiplier | 13.7 | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 2.88/1,000 SF |
| Zoning | R4, Los Angeles | ||
| Price | $2,699,000 |
| Price Per Unit | $299,889 |
| Sale Type | Investment |
| Cap Rate | 4.21% |
| Gross Rent Multiplier | 13.7 |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 6,933 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 2.88/1,000 SF |
| Zoning | R4, Los Angeles |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 9 | - | 770 |
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PROPERTY TAXES
| Parcel Number | 8082-020-023 | Improvements Assessment | $656,753 |
| Land Assessment | $919,455 | Total Assessment | $1,576,208 |
PROPERTY TAXES
Parcel Number
8082-020-023
Land Assessment
$919,455
Improvements Assessment
$656,753
Total Assessment
$1,576,208
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15627 Belshire Ave
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