7315 Norwalk Boulevard

Whittier, CA 90606

$4,800,000
Last Sold Price
6
Beds
22
Baths
16,236 Sq. Ft.
$296 / Sq. Ft.
16,236
Sq. Ft.
$296
per Sq. Ft.

Description

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...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.
  1. Listed by Chris Keramati • DRE #01702116 • Brokerage DRE #01921625 • Triqor Group

Property Details for 7315 Norwalk Boulevard

Parking Spaces Total
0
Private Pool
No
Total Units
18.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
16236
Assessor Parcel Number
8176-007-036
Property Attached YN
true

Location

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

Sold By UNITED CAPITAL REALTY, SARA COVARRUBIAS, DRE #01751128

Add your commute
LISTING UPDATED: 09/08/2023 04:24 AM

Property Details for 7315 Norwalk Boulevard

StatusClosed
MLS #PW23090370
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
CountyLos Angeles County

Location

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

Sold By UNITED CAPITAL REALTY, SARA COVARRUBIAS, DRE #01751128

Add your commute

Building Information for 7315 Norwalk Boulevard

Building/Complex7315 Norwalk BlvdFloor-Stories2Residences-Pet Policy-Year Built1962Building Size-

Payment Calculator

$28,698 per month

30 year fixed, 7.25% Interest

Principal and Interest

$26,196

Property Taxes

$2,502

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 7315 Norwalk Boulevard

Income / Expense / Tax Details
Income Details
  • Gross Income: $381,888
  • Gross Scheduled Income: $393,699
  • Net Operating Income: $252,518
  • Financing: Conventional
Expense Details
  • Operating Expense: $129,370
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Professional Management Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $129,370
Tax / Assessment Info
  • Tax Tract Number: 0
  • Tax Census Tract: 5022.00
  • CFD/Mello-Roos Fee: $5,894
  • Tax Lot: 0
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Entry Location: /
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Rectangular Lot
  • Number Of Units: 18
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 10
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,535
  • Unit Type Total Rent: $15,350
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,971
  • Unit Type Total Rent: $7,884
  • Unit Type Pro Forma: 2395
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 4
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,338
  • Unit Type Total Rent: $9,352
  • Unit Type Pro Forma: 2800
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0

Property History for 7315 Norwalk Boulevard

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7315 Norwalk Boulevard

Taxable ValueLand$612,515Additions$1,532,538Total$2,145,053
Tax Record2023$30,023 ($2,502 / month)
Home Facts
Total Finished SqFt16,236 SqFtAbove Grade Finished SqFt16,236 SqFtLot Size20,879 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLCR3YYCountyLOS ANGELESAPN8176-007-036

Schools near 7315 Norwalk Boulevard

This home is within Whittier City Elementary School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 8
Rating
School
Distance
Daniel Phelan Elementary School
PublicK to 5

Katherine Edwards Middle School
Public6 to 8

Pioneer High School
Public9 to 12

Whittier Independent Study
PublicK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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Similar Sold Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Triqor Group, Chris Keramati, DRE #01702116

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.