21601 Norwalk Blvd Hawaiian Gardens, CA 90716-1123

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.