Active
21601 Norwalk Boulevard
Hawaiian Gardens CA, 90716
$1,725,000
$503.36 per sqft
Active
3,427 sqft
Commercial
Built in 2023
Listed by John McCann with Lyon Stahl Investment Real Estate, Inc. 310-382-1063
Located at 21601 Norwalk Blvd in Hawaiian Gardens, this four-unit retail building presents an outstanding investment opportunity. Ideal for an investor seeking to add value and develop new possibilities, it is equally suited for an owner-user looking to expand their existing business or launch a new venture in the area. This property features both brand-new and well-maintained units. In 2023, the owner developed two entirely new units on the parcel, adding modern construction to the offering. The other two units, built in 1959, have been well kept by the owner, maintaining their charm and functionality. Currently, the property is fully occupied with three tenants, one of which occupies the two newly built units. Listed for sale at $1,725,000, the property is priced at $503 per square foot and $431,250 per unit. It generates a rental income of $6,997 per month, totaling $83,964 annually. This results in a 3.02% cap rate and a 20.54 GRM. Situated on a highly visible section of Norwalk Blvd, the property benefits from an average of +/- 26,000 cars driving by daily, ensuring significant exposure to potential customers. The property's proximity to notable landmarks such as the Hawaiian Gardens Casino, located just around the corner on Carson St, and the equally well-trafficked Hawaiian Gardens Bingo Club, less than half a mile down Norwalk Blvd, further enhances its appeal.
24412891
MLSⓇ ID
July 9, 2024
Listed
September 13, 2024
Updated
Map
21601 Norwalk Boulevard
Hawaiian Gardens CA, 90716
Interior Features
Total Stories
0
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.27 Acres
Other Property Details
Area Name
54 - Hawaiian Gardens
Days on Market
35
Garage
No
Parking Total
14
View
No
County
Los Angeles
Pool
No
Zoning
HGC4*
Listing Contact: 310-425-9838
Based on information from the California Regional Multiple Listing Service (CRMLS) as of 9/13/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.
©2024 California Regional Multiple Listing Service (CRMLS) all rights reserved.
Data last updated on 9/13/2024 at 3:13 PM UTC