27-Unit Apartment
New
For Sale
$5,600,000
8146 8152 Norwalk Boulevard, Whittier, CA 90606
The adjoining parcels offer studio, one-bedroom, and two-bedroom residences.
Property Size18,384 SF
Days on Market4
Property Features for 8146 8152 Norwalk Boulevard
General Information
Standard status
Active
Size
18,384 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$78,760
Building Details
Building Size
18,384 SF
Year Built
1961
Listing Agency:
Morgan Skenderian
Listed By:
Doug Rodermund · License #01314304
(949) 251-8800
Source:
Archetyperealty
Added: Sep 28
Changed: Sep 30
Last Checked: Sep 30 at 1:55PM
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 Morgan Skenderian
Investment Insights
Based on property information with market context.
Two neighboring apartment parcels contain 18 and 9 units, respectively, for a combined 27-unit property. The residences include studio, one-bedroom, and two-bedroom layouts. The buildings were constructed in 1961 and are on Norwalk Boulevard in Whittier, California.
Key Highlights
- 18‑unit and 9‑unit parcels sit side by side
- 27 apartments across both parcels
- Studio, 1- and 2‑bedroom layouts
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
$295,813
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
5.28%
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%
$5,916,260
$5.9M
Cap Rate 7%
$4,225,900
$4.2M
Cap Rate 9%
$3,286,811
$3.3M
Market Conditions
NOI Build-Up for 18,384 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
$584.6K $31.80/SF
− Vacancy
−$46.8K −$2.54/SF
EGI
$537.8K $29.26/SF
− OpEx
−$242.0K −$13.17/SF
NOI
$295.8K $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 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%
$5,916,260
Cap Rate 7%
$4,225,900
Cap Rate 9%
$3,286,811
Alternative Uses
Best Use
Apartment 5plus
$4.23M
$3.70M – $4.93M
NOI $295,813 @ 7.0% cap · market cap 5.28%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.84M
$8.61M – $11.48M
NOI $688,991 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 90606, CA
32,078
Population
8,982
Households
3.6
Avg Household Size
38
Median Age
18%
College-Educated
76%
High-School Grad
3.8 sq mi
ZIP Area
8,442
Density / Sq Mi
$94,904
Median Household Income
$45,361
Median Earnings
$1,913
Median Rent
$623,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - The adjoining parcels offer studio, one-bedroom, and two-bedroom residences.
Where is this apartment building located?
The property is located at 8146 8152 Norwalk Boulevard Whittier, CA.
What is the asking price?
The asking price for this property is $5,600,000.
What are key features of this property?
This property features: 18‑unit and 9‑unit parcels sit side by side; 27 apartments across both parcels; Studio, 1- and 2‑bedroom layouts
