Triplex With Vacant
For Sale
$970,000
Pending
1/2 Norwalk Blvd, Whittier, CA 90606
Three residential units sit on a substantial parcel with distinct bedroom and bath configurations.
Property Size2,196 SF
Lot Size0.44 Acres
Days on Market115
Property Features for 1/2 Norwalk Blvd
General Information
Standard status
Pending
Size
2,196 SF
Lot size
0.44 Acres
Property subtype
Investment
Units
Unit Mix
3BR/1.5BA, 2BR/1BA, 3BR/1BA
Multifamily Units
3
Building Details
Building Size
2,196 SF
Year Built
1920
Stories
1
Units
3
Listing Agency:
Century 21 Allstars
(562) 313-1065
Listed By:
Salvador Ortuno Bermudez · License #02100849
(562) 313-1065
Source:
Elliman
Added: May 10
Changed: Aug 30
Last Checked: Aug 30 at 1:39PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Century 21 Allstars
Investment Insights
Based on property information with market context.
This three-unit residential income property was built in 1920 and occupies a 19,175-square-foot lot. The unit mix includes one three-bedroom residence with one-and-a-half bathrooms, a two-bedroom unit with one bathroom, and another three-bedroom unit with one bathroom. All three units may be delivered vacant, providing flexibility for an owner-occupant or future leasing strategy.
The property is located at 1/2 Norwalk Blvd in Whittier, California, within an unincorporated area identified as having no rent control. Walk Score is 88, classified as Very Walkable, while Bike Score is 72, classified as Very Bikeable.
The property is located at 1/2 Norwalk Blvd in Whittier, California, within an unincorporated area identified as having no rent control. Walk Score is 88, classified as Very Walkable, while Bike Score is 72, classified as Very Bikeable.
Key Highlights
- Three‑unit property on a 19,175‑square‑foot lot
- All 3 units can be delivered vacant
- Unit mix includes two 3‑bedroom residences and one 2‑bedroom unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,350
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,000
$767.0K
Cap Rate 7%
$547,857
$547.9K
Cap Rate 9%
$426,111
$426.1K
Market Conditions
NOI Build-Up for 2,196 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$59.3K $27.00/SF
− Vacancy
−$4.5K −$2.05/SF
EGI
$54.8K $24.95/SF
− OpEx
−$16.4K −$7.48/SF
NOI
$38.4K $17.46/SF
Area
Los Angeles County, CA
Vacancy
7.60%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$767,000
Cap Rate 7%
$547,857
Cap Rate 9%
$426,111
Alternative Uses
Best Use
Multifamily LT 5
$547.9K
$479.4K – $639.2K
NOI $38,350 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$504.8K
$441.7K – $588.9K
NOI $35,335 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,301 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
354
Businesses Nearby
Explore this area
Business Placement
Demographics for 90606, CA
32,078
Population
8,982
Households
3.6
Avg Household Size
38
Median Age
18%
College-Educated
76%
High-School Grad
3.8 sq mi
ZIP Area
8,442
Density / Sq Mi
$94,904
Median Household Income
$45,361
Median Earnings
$1,913
Median Rent
$623,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units sit on a substantial parcel with distinct bedroom and bath configurations.
Where is this triplex located?
The property is located at 1/2 Norwalk Blvd Whittier, CA.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Three‑unit property on a 19,175‑square‑foot lot; All 3 units can be delivered vacant; Unit mix includes two 3‑bedroom residences and one 2‑bedroom unit
