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2331 Walnut Ave 10 Unit Apartment Building $3,950,000 ($395,000/Unit) 4.27% Cap Rate Signal Hill, CA 90755
Investment Highlights
- Strong rental demand in a supply-constrained market
- Upside potential through renovations and operational improvements
- Accessible to freeways, ports, and lifestyle amenities
- Prime location adjacent to Long Beach and major employment centers
- Steady cash flow with long-term appreciation potential
Executive Summary
Walnut is a well-located, 10-unit apartment community in Signal Hill presenting classic value-add upside through interior/unit renovations, re-positioning of
rents, and operational improvements in a supply-constrained coastal market. Signal Hill benefits from its central position in Los Angeles County, adjacency to
Long Beach, and strong tenant demand driven by employment, lifestyle amenities, and limited housing options. With a value-add component, new ownership
can reposition the property to capture higher rents and long-term appreciation.
Walnut Apartments were constructed in 1963 with wood frame and stucco construction. The property offers a majority of larger floorplans with (2) one-bedrooms
and (8) three-bedrooms. Total net rentable square footage is 10,488 and the average units size is 1,049 square feet. All of the units have been updated with
quartz or granite countertops, but no other renovations to the interiors have been made. The units in 2341 Walnut have been newly repiped with copper.
Living in Signal Hill offers the charm of a small city with the convenience of being in the heart of Los Angeles County. Residents enjoy access to Long Beach and
the coastline, hiking trails and parks, and a quieter suburban feel while still being close to major freeways, employment hubs, shopping, and entertainment. The
community is safe, centrally located, and provides a unique blend of urban convenience and natural beauty.
rents, and operational improvements in a supply-constrained coastal market. Signal Hill benefits from its central position in Los Angeles County, adjacency to
Long Beach, and strong tenant demand driven by employment, lifestyle amenities, and limited housing options. With a value-add component, new ownership
can reposition the property to capture higher rents and long-term appreciation.
Walnut Apartments were constructed in 1963 with wood frame and stucco construction. The property offers a majority of larger floorplans with (2) one-bedrooms
and (8) three-bedrooms. Total net rentable square footage is 10,488 and the average units size is 1,049 square feet. All of the units have been updated with
quartz or granite countertops, but no other renovations to the interiors have been made. The units in 2341 Walnut have been newly repiped with copper.
Living in Signal Hill offers the charm of a small city with the convenience of being in the heart of Los Angeles County. Residents enjoy access to Long Beach and
the coastline, hiking trails and parks, and a quieter suburban feel while still being close to major freeways, employment hubs, shopping, and entertainment. The
community is safe, centrally located, and provides a unique blend of urban convenience and natural beauty.
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 | $3,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $395,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.27% | Building Size | 10,488 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.53/1,000 SF |
| Zoning | SHR3 - High-Density Residential | ||
| Price | $3,950,000 |
| Price Per Unit | $395,000 |
| Sale Type | Investment |
| Cap Rate | 4.27% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 10,488 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.53/1,000 SF |
| Zoning | SHR3 - High-Density Residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Kitchen
- Oven
- Range
- Patio
- Window Coverings
Site Amenities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 800 |
| 3+2 | 8 | - | 1,111 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 7211-030-050 | Improvements Assessment | $294,514 (2025) |
| Land Assessment | $88,334 (2025) | Total Assessment | $382,848 (2025) |
Property Taxes
Parcel Number
7211-030-050
Land Assessment
$88,334 (2025)
Improvements Assessment
$294,514 (2025)
Total Assessment
$382,848 (2025)
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