A multifamily compound near Norwalk, California recently sold for an impressive $2,565,000 on February 1st. Located at 12814 Kalnor Ave, Norwalk, CA, 90650, this property offers a unique investment opportunity with its eight units and extensive renovations.
The compound consists of four buildings, including a 3-bedroom, 2-bathroom home, a 3-bedroom, 2-bathroom Accessory Dwelling Unit (ADU), five 2-bedroom, 2-bathroom townhomes, and an unpermitted studio unit with 1 bathroom. The original units have been fully renovated, and an additional 3-bedroom, 2-bathroom ADU has been added to enhance the property’s value.
Spanning an impressive 8,346 square feet, this property offers ample space for residents to enjoy. The large lot size of 0.51 acres provides plenty of room for outdoor activities and potential future developments. With a price per square footage of $308 and a 6.47% cap rate, this property presents a promising investment opportunity.
One of the property’s notable features is its strategic location in Norwalk. Situated in close proximity to shopping centers, entertainment venues, and a variety of restaurants, residents will enjoy convenient access to amenities. Currently, all units are fully leased, further adding to the property’s appeal for potential investors.