10-Unit Apartment
For Sale
$3,400,000
2341 Walnut, Signal Hill, CA 90755
Wood-frame and stucco construction accompanies a unit mix weighted toward three-bedroom apartments.
Property Size10,488 SF
Price / SF$324.18
Days on Market284
Property Features for 2341 Walnut
General Information
Standard status
Active
Size
10,488 SF
Net Rentable
10,488 SF
Property subtype
Apartment
Units
Unit Mix
2 x 1BR, 8 x 3BR
Multifamily Units
10
Additional Details
Highway Access
Yes
Building Details
Building Size
10,488 SF
Year Built
1963
Construction
wood frame
Listing Agency:
NorthMarq Realty Services, Inc
(949) 302-1400
Listed By:
Peter Hauser · License #00856966
(949) 717-5211
Source:
Laroccarealestate
Added: Jan 20
Changed: Oct 26
Last Checked: Oct 26 at 3:23PM
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 NorthMarq Realty Services, Inc
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Investment Insights
Based on property information with market context.
Built in 1963, this 10-unit apartment property has wood-frame construction with stucco exterior. The mix comprises two one-bedroom apartments and eight three-bedroom apartments. Net rentable area totals 10,488 square feet, with an average unit size of 1,049 square feet.
The property is in Signal Hill, within Los Angeles County. Long Beach and the coastline, hiking trails and parks, major freeways, employment hubs, shopping, and entertainment are among the area’s stated points of access.
The property is in Signal Hill, within Los Angeles County. Long Beach and the coastline, hiking trails and parks, major freeways, employment hubs, shopping, and entertainment are among the area’s stated points of access.
Key Highlights
- 10,488 square feet of net rentable area
- 10 apartments: two one‑bedroom units and eight three‑bedroom units
- Average unit size of 1,049 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$168,760
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,375,200
$3.4M
Cap Rate 7%
$2,410,857
$2.4M
Cap Rate 9%
$1,875,111
$1.9M
Market Conditions
NOI Build-Up for 10,488 SF
Gross rent
$333.5K $31.80/SF
− Vacancy
−$26.7K −$2.54/SF
EGI
$306.8K $29.26/SF
− OpEx
−$138.1K −$13.17/SF
NOI
$168.8K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,375,200
Cap Rate 7%
$2,410,857
Cap Rate 9%
$1,875,111
Alternative Uses
Best Use
Apartment 5plus
$2.41M
$2.11M – $2.81M
NOI $168,760 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.62M
$4.91M – $6.55M
NOI $393,066 @ 7.0% cap · market cap 11.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,674
Businesses Nearby
Explore this area
Business Placement
Demographics for 90755, CA
11,923
Population
5,071
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
88%
High-School Grad
2.2 sq mi
ZIP Area
5,420
Density / Sq Mi
$102,684
Median Household Income
$61,069
Median Earnings
$1,817
Median Rent
$730,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Wood-frame and stucco construction accompanies a unit mix weighted toward three-bedroom apartments.
Where is this apartment building located?
The property is located at 2341 Walnut Signal Hill, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 10,488 square feet of net rentable area; 10 apartments: two one‑bedroom units and eight three‑bedroom units; Average unit size of 1,049 square feet
