21601 Norwalk Blvd, Hawaiian Gardens, CA 90716-1123
- Retail space
- 2,180 SF
- 0.27 lot acres
Current Use by Public Records
- Retail space
Property Details for 21601 Norwalk Blvd
- Year built
- 1930
- Construction
- WOOD
- Lot size
- 0.27 lot acres
- Zone code
- HGC4*
- Property type
- Retail space
- APN
- 7065-016-039
- APU
- 7065016039
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 6, 2021 | — | Mgk Properties LLC | — | Deed · related | $508k · Vilocity Commercial Capital LLC |
| Mar 17, 2020 | — | Mgk Properties LLC | Kashany 2004 Family Trust | Grant Deed | — |
| Apr 22, 2014 | — | Kashany Family Trust | Mina G Kashany | Quit Claim Deed · related | — |
| Oct 28, 2013 | $700,000 | Mina G Kashany | Misty Larijani | Grant Deed | — |
| Oct 28, 2013 | — | Misty Larijani | Babak B Baniasad | Quit Claim Deed · related | — |
| Jul 2, 2013 | — | Babak B Bariasad | Mistil Larijani | Quit Claim Deed · related | — |
| Sep 19, 2006 | — | Larijani,misty | United Capital Inv Group | Grant Deed · related | — |
| Sep 22, 2003 | $465,000 | United Capital Inv Group | Strickland,robert M & Mary L | Grant Deed · related | — |
| — | — | Larijani,misty | — | Deed Of Trust · related | $262k · Amir Baniassad |
| — | — | Robert M Strickland | — | Deed Of Trust · related | $250k · Landmark Bank |
| — | — | Larijani,misty | — | Deed Of Trust · related | $275k · Langholz Ike & F Fam Trust |
| — | — | Larijani,misty | — | Deed Of Trust · related | $430k · United Capital Inv Group INC |
| — | — | Robert M Strickland | — | Deed Of Trust · related | $250k · Landmark Bank |
Description
This exceptional four-unit retail property, located at 21601 Norwalk Blvd in Hawaiian Gardens, California, presents a compelling value-add investment opportunity. The 3,427 square foot building sits on an 11,281 square foot lot and boasts a mix of newly constructed and well-maintained units. Two units were completely renovated in 2023, featuring modern construction, new roofs, plumbing, electrical systems, windows, and HVAC. The remaining two units, built in 1959, are in excellent condition. Currently 100% occupied with three tenants, generating a current NOI of $52,116 and a pro-forma NOI of $72,454. The asking price is $1,725,000, representing $503.36 per square foot and $431,250 per unit. The property benefits from a high-traffic location on Norwalk Blvd, with approximately 26,000 cars passing daily, and enjoys proximity to the Hawaiian Gardens Casino and Bingo Club. Ample parking is available with recent asphalt resurfacing and striping. The property is zoned Hgc4 and offers a 3.02% cap rate and a pro-forma cap rate of 4.20%. This fee-simple ownership opportunity is ideal for both owner-users and investors seeking strong returns and significant upside potential. The property features a new street-facing facade. This is a 1-story building with a 1031 exchange option available.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $805,000
- 6.5%
- $740,000
- 7%
- $690,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $474,000
Market price range: $137k - $475k -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $835,000 Current use
- AUTO REPAIR, GARAGE
- $1,010,000 Change: +21% Conversion: Difficult
- MEDICAL BUILDING
- $990,000 Change: +19% Conversion: Difficult
- OFFICE BUILDING
- $980,000 Change: +17% Conversion: Easy
- COMMERCIAL (GENERAL)
- $675,000 Change: -19% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Hawaiian Gardens
- County
- Los Angeles
- State
- California
- Longitude
- -118.072
- Latitude
- 33.833
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
