For Sale
$1,725,000

21601 Norwalk BlvdHawaiian Gardens, CA 90716

Four-unit retail building, high traffic location.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional four-unit retail property, located at 21601 Norwalk Blvd in Hawaiian Gardens, California, presents a compelling value-add investment opportunity. The 3,427 square foot building sits on an 11,281 square foot lot and boasts a mix of newly constructed and well-maintained units. Two units were completely renovated in 2023, featuring modern construction, new roofs, plumbing, electrical systems, windows, and HVAC. The remaining two units, built in 1959, are in excellent condition. Currently 100% occupied with three tenants, generating a current NOI of $52,116 and a pro-forma NOI of $72,454. The asking price is $1,725,000, representing $503.36 per square foot and $431,250 per unit. The property benefits from a high-traffic location on Norwalk Blvd, with approximately 26,000 cars passing daily, and enjoys proximity to the Hawaiian Gardens Casino and Bingo Club. Ample parking is available with recent asphalt resurfacing and striping. The property is zoned Hgc4 and offers a 3.02% cap rate and a pro-forma cap rate of 4.20%. This fee-simple ownership opportunity is ideal for both owner-users and investors seeking strong returns and significant upside potential. The property features a new street-facing facade. This is a 1-story building with a 1031 exchange option available.

Highlights

  • Two of four units are newly constructed (December 2023).
  • New street-facing facade.
  • New roof, plumbing, electrical, and windows in two units.
  • Each unit features a brand new HVAC system.
  • Ample parking with recent asphalt resurfacing and striping.
  • Excellent location for owner-users and investors.

Property Details for 21601 Norwalk Blvd

Property type
Retail properties, Retail space
Square Feet
3,427 SF
Class
A
Year Built/Renovated
1959/2023
Buildings
1
Stories
1
Units
4

Location Insight

City
Hawaiian Gardens
County
Los Angeles
State
California
Latitude
33.833185375185
Longitude
-118.07206513513
21601 Norwalk Blvd, Hawaiian Gardens, California

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21601 Norwalk Blvd
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