Los Alamitos Multi-Unit
For Sale
Contact for pricing
10921 Walnut, Los Alamitos, CA 90720
Multi-family 3-unit property in desirable Los Alamitos.
Property Size3,039 SF
Lot Size0.16 Acres
Price / SF$526.16
Days on Market119
Property Features for 10921 Walnut
General Information
Standard status
Active
Size
3,039 SF
Lot size
0.16 Acres
Property subtype
Multifamily
Zoning
Assessor
Building Details
Buildings
2
Units
3
Listing Agency:
Keller Williams Realty
(714) 861-5557
Listed By:
Elizabeth Do · License #01473012
Source:
Crexi
Added: Apr 21
Changed: Aug 15
Last Checked: Aug 15 at 11:12AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This multi-family property features three units, including a single-family unit with three bedrooms and two bathrooms, and two townhouse units, each with two bedrooms and 1.5 bathrooms. Constructed in 1968, the property is located in Los Alamitos. The residence is situated on a 0.16-acre lot, offering outdoor space for patios, gardens, or recreation. The property includes three double garages. The rentable living space totals 3,039 square feet. Located in a low-density residential neighborhood, the property offers immediate leasing potential and the possibility of increasing income. The location provides access to top-rated schools and is a short drive from shops, restaurants, and beaches in Orange and Los Angeles County. The property contains a total of 7 bedrooms and 6 bathrooms.
Key Highlights
- Multi‑family property with three units offering immediate leasing potential and income generation.
- Located in the highly desirable Los Alamitos community, known for its top‑rated schools.
- Features a total of 7 bedrooms and 6 bathrooms across all units, accommodating various tenant needs.
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
$64,102
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
4.01%
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%
$1,282,040
$1.3M
Cap Rate 7%
$915,743
$915.7K
Cap Rate 9%
$712,244
$712.2K
Market Conditions
NOI Build-Up for 3,039 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
$94.8K $31.20/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$91.6K $30.13/SF
− OpEx
−$27.5K −$9.04/SF
NOI
$64.1K $21.09/SF
Area
Orange County, CA
Vacancy
3.42%
Lease Rate
$31.20 /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%
$1,282,040
Cap Rate 7%
$915,743
Cap Rate 9%
$712,244
Alternative Uses
Best Use
Multifamily LT 5
$915.7K
$801.3K – $1.07M
NOI $64,102 @ 7.0% cap · market cap 4.01%
Second Best
Apartment 5plus
$828.7K
$725.1K – $966.8K
NOI $58,006 @ 7.0% cap · market cap 3.63%
Theoretical Best
Office A
$1.02M
$893.2K – $1.19M
NOI $71,452 @ 7.0% cap · market cap 4.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,286
Businesses Nearby
Explore this area
Business Placement
Demographics for 90720, CA
22,955
Population
8,675
Households
2.6
Avg Household Size
43
Median Age
52%
College-Educated
96%
High-School Grad
6.1 sq mi
ZIP Area
3,763
Density / Sq Mi
$134,232
Median Household Income
$63,406
Median Earnings
$2,370
Median Rent
$1,166,200
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 - Multi-family 3-unit property in desirable Los Alamitos.
Where is this triplex located?
The property is located at 10921 Walnut Los Alamitos, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Multi‑family property with three units offering immediate leasing potential and income generation.; Located in the highly desirable Los Alamitos community, known for its top‑rated schools.; Features a total of 7 bedrooms and 6 bathrooms across all units, accommodating various tenant needs.
