8-Unit Apartment
For Sale
$2,250,000
11062 Excelsior Dr, Norwalk, CA 90650
Consistent two-bedroom, one-bath layouts support a straightforward multifamily configuration with separately metered utilities.
Property Size6,775 SF
Price / SF$332.10
Days on Market110
Property Features for 11062 Excelsior Dr
General Information
Standard status
Active
Size
6,775 SF
Property subtype
Residential Income
Listing Agency:
Remax Commercial and Investment Realty
(949) 607-7096
Listed By:
Nicholas Petrosian · License #01462598
(949) 607-7096
Source:
Exprealty
Added: May 13
Changed: Aug 30
Last Checked: Aug 30 at 1:54AM
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 Remax Commercial and Investment Realty
Investment Insights
Based on property information with market context.
This 8-unit apartment property contains 6,775 square feet and offers a uniform residential layout, with every unit configured as two bedrooms and one bathroom. Separate gas and electric meters serve the units, supporting distinct utility accounting across the building.
Recent capital improvements include a new roof, new fascia, and fresh exterior paint. The property is located at 11062 Excelsior Dr in Norwalk, California, and is offered as a multifamily income property with a reported 6.69% cap rate and 9.4 GRM.
Recent capital improvements include a new roof, new fascia, and fresh exterior paint. The property is located at 11062 Excelsior Dr in Norwalk, California, and is offered as a multifamily income property with a reported 6.69% cap rate and 9.4 GRM.
Key Highlights
- 8‑unit apartment property totaling 6,775 square feet
- All units feature a 2‑bedroom/1‑bathroom configuration
- Separate gas and electric meters for each 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
$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
Location Intelligence
Trade Area within ½ mile
448
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Consistent two-bedroom, one-bath layouts support a straightforward multifamily configuration with separately metered utilities.
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 property totaling 6,775 square feet; All units feature a 2‑bedroom/1‑bathroom configuration; Separate gas and electric meters for each unit
