11026 Imperial Hwy
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11026 Imperial Hwy
32 Unit Apartment Building $7,295,000 ($227,969/Unit) 5.65% Cap Rate Norwalk, CA 90650
Investment Highlights
- Features Primarily One-Bedroom Floor Plans
- Ample Gated Surface Parking: 32 Total Spaces
- Convenient Access to Parks & Schools
- Gated Access | Two On-Site Laundry Facilities
- Within Walking Distance of Everyday Needs at Costco Wholesale & Stater Bros. Markets
- Within a 2-Mile Radius of an Abundance of Retail, Dining, & Entertainment Options at Stonewood Center, The Promenade at Downey, & Downey Landing
Executive Summary
The Leeson Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 11026 Imperial Highway, a 32-unit multifamily investment property located in Norwalk, California.
Situated on a 0.73-acre lot, 11026 Imperial Highway offers 31, one-bedroom units and 1, two-bedroom unit, as well as amenities including gated pedestrian and parking access, surface parking, and two on-site laundry facilities.
Residents at 11026 Imperial Highway benefit from the property’s optimal Norwalk Location, in close proximity to an abundance of retail, dining, and entertainment options at popular destinations including Stonewood Center, Downey Landing, and The Promenade at Downey. Additionally, the property is located within one mile of all three levels of schooling including Johnston Elementary School, Corvallis Middle School, and Norwalk High School as well as just over 2 miles from Cerritos College. 11026 Imperial Highway’s close proximity to Interstates 5, 105, and 605, as well as the Norwalk Light Rail Station, provides residents with convenient access to employment hubs throughout Los Angeles and Orange Counties.
The area surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 11026 Imperial Highway.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Situated on a 0.73-acre lot, 11026 Imperial Highway offers 31, one-bedroom units and 1, two-bedroom unit, as well as amenities including gated pedestrian and parking access, surface parking, and two on-site laundry facilities.
Residents at 11026 Imperial Highway benefit from the property’s optimal Norwalk Location, in close proximity to an abundance of retail, dining, and entertainment options at popular destinations including Stonewood Center, Downey Landing, and The Promenade at Downey. Additionally, the property is located within one mile of all three levels of schooling including Johnston Elementary School, Corvallis Middle School, and Norwalk High School as well as just over 2 miles from Cerritos College. 11026 Imperial Highway’s close proximity to Interstates 5, 105, and 605, as well as the Norwalk Light Rail Station, provides residents with convenient access to employment hubs throughout Los Angeles and Orange Counties.
The area surrounding the property provide tenants convenient access to a wide variety of activities, employment, transportation and retail amenities. This overall demand for a well-located and maintained apartment building will be a key driver in the continued growth and success at 11026 Imperial Highway.
*Drive by only. Do not walk the property or disturb the residents. Please contact the Listing Agent(s).*
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$699,960
|
$39.58
|
| Other Income |
$6,000
|
$0.34
|
| Vacancy Loss |
$20,999
|
$1.19
|
| Effective Gross Income |
$684,961
|
$38.73
|
| Taxes |
$85,890
|
$4.86
|
| Operating Expenses |
$187,209
|
$10.59
|
| Total Expenses |
$273,099
|
$15.44
|
| Net Operating Income |
$411,862
|
$23.29
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $699,960 |
| Annual Per SF | $39.58 |
| Other Income | |
|---|---|
| Annual | $6,000 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | $20,999 |
| Annual Per SF | $1.19 |
| Effective Gross Income | |
|---|---|
| Annual | $684,961 |
| Annual Per SF | $38.73 |
| Taxes | |
|---|---|
| Annual | $85,890 |
| Annual Per SF | $4.86 |
| Operating Expenses | |
|---|---|
| Annual | $187,209 |
| Annual Per SF | $10.59 |
| Total Expenses | |
|---|---|
| Annual | $273,099 |
| Annual Per SF | $15.44 |
| Net Operating Income | |
|---|---|
| Annual | $411,862 |
| Annual Per SF | $23.29 |
Property Facts Under Contract
| Price | $7,295,000 | Apartment Style | Low Rise |
| Price Per Unit | $227,969 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.73 AC |
| Cap Rate | 5.65% | Building Size | 17,686 SF |
| Gross Rent Multiplier | 10.33 | No. Stories | 2 |
| No. Units | 32 | Year Built | 1963 |
| Property Type | Multifamily | Parking Ratio | 1.81/1,000 SF |
| Property Subtype | Apartment |
| Price | $7,295,000 |
| Price Per Unit | $227,969 |
| Sale Type | Investment |
| Cap Rate | 5.65% |
| Gross Rent Multiplier | 10.33 |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 17,686 SF |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.81/1,000 SF |
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 31 | - | 545 |
| 2+1 | 1 | - | 791 |
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PROPERTY TAXES
| Parcel Number | 8050-032-027 | Total Assessment | $1,958,886 (2024) |
| Land Assessment | $372,181 (2024) | Annual Taxes | $85,890 ($4.86/SF) |
| Improvements Assessment | $1,586,705 (2024) | Tax Year | 2023 Payable 2023 |
PROPERTY TAXES
Parcel Number
8050-032-027
Land Assessment
$372,181 (2024)
Improvements Assessment
$1,586,705 (2024)
Total Assessment
$1,958,886 (2024)
Annual Taxes
$85,890 ($4.86/SF)
Tax Year
2023 Payable 2023
zoning
| Zoning Code | R3-P, Norwalk |
| R3-P, Norwalk |
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11026 Imperial Hwy
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