21601 Norwalk BlvdHawaiian Gardens, CA 90716
- Retail properties
- 2,180 SF
Property Details for 21601 Norwalk Blvd
- Year built
- 1930
- Construction
- WOOD
- Lot size
- 0.27 AC
- Property size (Sq ft)
- 2,180 SF
- Zone code
- HGC4*
- Property type
- Retail properties
- Property subtype
- Retail space
- APN
- 7065-016-039
- APU
- 7065016039
Description
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.
Location Insight
- City
- Hawaiian Gardens
- County
- Los Angeles
- State
- California
- Latitude
- 33.833
- Longitude
- -118.072
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
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