11536-11544 Imperial Hwy
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11536-11544 Imperial Hwy
28 Unit Apartment Building $6,400,000 ($228,571/Unit) 6.08% Cap Rate Norwalk, CA 90650
Investment Highlights
- First Time on the Market in 45 Years
- 70% of Units Have Been Renovated with Paint, Flooring and New Appliances
- Directly Across Street from New Tesla Dealership
- Substantial Rental Upside
- Potential to Add ADU Units
- Nearby Retail Amenities Include Target, Starbucks & Costco
Executive Summary
Morgan Skenderian is pleased to offer 11536-44 Imperial Highway in the desirable community of Norwalk. The subject property is very well-maintained and offers nearly 15% upside in rents. The location surrounding is rapidly improving with both a new Tesla dealership and townhome project across the street.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$610,693
|
$37.19
|
| Taxes |
$75,353
|
$4.59
|
| Operating Expenses |
$146,021
|
$8.89
|
| Total Expenses |
$221,374
|
$13.48
|
| Net Operating Income |
$389,319
|
$23.71
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $610,693 |
| Annual Per SF | $37.19 |
| Taxes | |
|---|---|
| Annual | $75,353 |
| Annual Per SF | $4.59 |
| Operating Expenses | |
|---|---|
| Annual | $146,021 |
| Annual Per SF | $8.89 |
| Total Expenses | |
|---|---|
| Annual | $221,374 |
| Annual Per SF | $13.48 |
| Net Operating Income | |
|---|---|
| Annual | $389,319 |
| Annual Per SF | $23.71 |
Property Facts Under Contract
| Price | $6,400,000 | Apartment Style | Low Rise |
| Price Per Unit | $228,571 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.73 AC |
| Cap Rate | 6.08% | Building Size | 16,421 SF |
| Gross Rent Multiplier | 10.17 | Average Occupancy | 100% |
| No. Units | 28 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 4.97/1,000 SF |
| Price | $6,400,000 |
| Price Per Unit | $228,571 |
| Sale Type | Investment |
| Cap Rate | 6.08% |
| Gross Rent Multiplier | 10.17 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.73 AC |
| Building Size | 16,421 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 4.97/1,000 SF |
Unit Amenities
- Air Conditioning
Site Amenities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 27 | $1,900 | 560 |
| 2+1 | 1 | $2,500 | 850 |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $658,362 | |
| Land Assessment | $173,224 | Annual Taxes | $75,353 ($4.59/SF) |
| Improvements Assessment | $485,138 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$173,224
Improvements Assessment
$485,138
Total Assessment
$658,362
Annual Taxes
$75,353 ($4.59/SF)
Tax Year
2024
zoning
| Zoning Code | NOC1* |
| NOC1* |
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11536-11544 Imperial Hwy
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