Eight-Unit Apartment
For Sale
Under Contract
$2,250,000
11062 Excelsior Dr, Norwalk, CA 90650
MULTI_FAMILY - Norwalk, CA
Property Size6,775 SF
Lot Size0.35 Acres
Price / SF$332.10
Days on Market95
Property Features for 11062 Excelsior Dr
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
NOR317U*
Bedrooms
16
Bathrooms
8
Full bathrooms
1
Rooms
Bedroom 9, Bedroom 13, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 11, Bedroom 2, Bathroom 5, Bathroom 4, Bedroom 7, Bathroom 3, Bathroom 8, Bedroom 8, Bedroom 6, Bathroom 7, Bedroom 12, Bedroom 10, Bathroom 1, Bedroom 16, Bedroom 3, Bedroom 14, Bedroom 15, Bathroom 6, Bedroom 5
Parking features
Garage
Directions
North of Alondra Boulevard and East of Studebaker Road
Subdivision
Norwalk
Standard status
Active Under Contract
APN
8078-023-015
Size
6,775 SF
Lot size
0.35 Acres
Building Details
Year built
1969
Floors in Building
2
Number of units
8
Listing Agency:
Remax Commercial and Investment Realty · RE/MAX International
(213) 817-1000
Listed By:
Nicholas Petrosian · License #01462598
(949) 607-7096
Added: May 13
Changed: Aug 1
Last Checked: Aug 15 at 11:06PM
MLS# 26833773
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This eight-unit apartment building features an all 2-bedroom and 1-bathroom unit mix. The units have separate gas and electric meters, supporting tenant-specific utility management. The property is 6,775 square feet on a 0.3487-acre lot and was built in 1969, with garage parking.
The property is zoned NOR317U*. Recent exterior improvements include a new roof, new fascia, and new exterior paint. The unit configuration and separate utilities are designed for day-to-day operational efficiency.
The current financing metrics reported include a 6.69% cap rate and a 9.4 GRM.
The property is zoned NOR317U*. Recent exterior improvements include a new roof, new fascia, and new exterior paint. The unit configuration and separate utilities are designed for day-to-day operational efficiency.
The current financing metrics reported include a 6.69% cap rate and a 9.4 GRM.
Key Highlights
- 8‑unit apartment building with all 2‑bedroom/1‑bathroom units
- 0.3487‑acre lot and 6,775 SF; built in 1969; garage parking
- Separate gas and electric meters for individual units
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
$108,518
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
4.82%
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%
$2,170,360
$2.2M
Cap Rate 7%
$1,550,257
$1.6M
Cap Rate 9%
$1,205,756
$1.2M
Market Conditions
NOI Build-Up for 6,775 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
$208.1K $30.72/SF
− Vacancy
−$10.8K −$1.60/SF
EGI
$197.3K $29.12/SF
− OpEx
−$88.8K −$13.11/SF
NOI
$108.5K $16.02/SF
Area
Norwalk, CA
Vacancy
5.20%
Lease Rate
$30.72 /SF/Yr
Expense Ratio
45.00%
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%
$2,170,360
Cap Rate 7%
$1,550,257
Cap Rate 9%
$1,205,756
Alternative Uses
Best Use
Apartment 5plus
$1.55M
$1.36M – $1.81M
NOI $108,518 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.14M
$1.88M – $2.50M
NOI $150,012 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
404
Businesses Nearby
Explore this area
Business Placement
Demographics for 90650, CA
102,891
Population
27,346
Households
3.8
Avg Household Size
37
Median Age
21%
College-Educated
77%
High-School Grad
9.9 sq mi
ZIP Area
10,393
Density / Sq Mi
$98,709
Median Household Income
$42,060
Median Earnings
$2,014
Median Rent
$616,600
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?
Apartment building - Eight-unit apartment building with all 2-bedroom/1-bathroom units and separate gas and electric meters.
Where is this apartment building located?
The property is located at 11062 Excelsior Dr Norwalk, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: 8‑unit apartment building with all 2‑bedroom/1‑bathroom units; 0.3487‑acre lot and 6,775 SF; built in 1969; garage parking; Separate gas and electric meters for individual units
