Corner-Lot
For Sale
$1,299,999
12003 Walnut Street, Norwalk, CA 90650
Four-unit property with separate rear access and additional land for potential expansion.
Property Size2,052 SF
Days on Market105
Property Features for 12003 Walnut Street
General Information
Standard status
Active
Size
2,052 SF
Property subtype
Quadruplex
Building Details
Building Size
2,052 SF
Year Built
1913
Listing Agency:
Independent Properties
Listed By:
Joanne Bragg · License #00628559
(951) 587-8886
Source:
Archetyperealty
Added: May 23
Changed: Aug 28
Last Checked: Sep 2 at 12:19AM
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 Independent Properties
Investment Insights
Based on property information with market context.
This quadplex combines a front residence containing one one-bedroom unit and one two-bedroom unit with two additional one-bedroom units positioned toward the rear. The rear residences are accessed from the alley, creating a distinct circulation pattern across the property. The layout occupies a corner lot and includes land identified for possible expansion, including additional units or a six-townhome concept.
Located at 12003 Walnut St in Norwalk, California, the property offers a four-unit configuration with a mix of one- and two-bedroom residences. Its existing arrangement and rear alley access provide a practical foundation for evaluating future site plans alongside the current income-producing setup.
Located at 12003 Walnut St in Norwalk, California, the property offers a four-unit configuration with a mix of one- and two-bedroom residences. Its existing arrangement and rear alley access provide a practical foundation for evaluating future site plans alongside the current income-producing setup.
Key Highlights
- Four‑unit configuration with three one‑bedroom units and one two‑bedroom unit
- Front structure includes one one‑bedroom residence and one two‑bedroom residence
- Two rear one‑bedroom units with alley access
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
$36,867
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
2.84%
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%
$737,340
$737.3K
Cap Rate 7%
$526,671
$526.7K
Cap Rate 9%
$409,633
$409.6K
Market Conditions
NOI Build-Up for 2,052 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
$55.4K $27.00/SF
− Vacancy
−$2.7K −$1.33/SF
EGI
$52.7K $25.67/SF
− OpEx
−$15.8K −$7.70/SF
NOI
$36.9K $17.97/SF
Area
Norwalk, CA
Vacancy
4.94%
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%
$737,340
Cap Rate 7%
$526,671
Cap Rate 9%
$409,633
Alternative Uses
Best Use
Multifamily LT 5
$526.7K
$460.8K – $614.5K
NOI $36,867 @ 7.0% cap · market cap 2.84%
Second Best
Apartment 5plus
$469.5K
$410.9K – $547.8K
NOI $32,868 @ 7.0% cap · market cap 2.53%
Theoretical Best
Office A
$649.1K
$567.9K – $757.3K
NOI $45,435 @ 7.0% cap · market cap 3.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,757
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?
Quadplex - Four-unit property with separate rear access and additional land for potential expansion.
Where is this quadplex located?
The property is located at 12003 Walnut Street Norwalk, CA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Four‑unit configuration with three one‑bedroom units and one two‑bedroom unit; Front structure includes one one‑bedroom residence and one two‑bedroom residence; Two rear one‑bedroom units with alley access
