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$1,725,000
Est. payment /mo
3,427 SqFt
UPDATED:
07/11/2024 08:10 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 3,427 sqft
Price per Sqft $503
MLS Listing ID 24-412891
Year Built 2023
Lot Size 0.272 Acres
Acres 0.2716
Property Description
Located at 21601 Norwalk Blvd in Hawaiian Gardens, this four-unit retail building presents an outstanding investment opportunity. Ideal for an investor seeking to add value and develop new possibilities, it is equally suited for an owner-user looking to expand their existing business or launch a new venture in the area. This property features both brand-new and well-maintained units. In 2023, the owner developed two entirely new units on the parcel, adding modern construction to the offering. The other two units, built in 1959, have been well kept by the owner, maintaining their charm and functionality. Currently, the property is fully occupied with three tenants, one of which occupies the two newly built units. Listed for sale at $1,725,000, the property is priced at $503 per square foot and $431,250 per unit. It generates a rental income of $6,997 per month, totaling $83,964 annually. This results in a 3.02% cap rate and a 20.54 GRM. Situated on a highly visible section of Norwalk Blvd, the property benefits from an average of +/- 26,000 cars driving by daily, ensuring significant exposure to potential customers. The property's proximity to notable landmarks such as the Hawaiian Gardens Casino, located just around the corner on Carson St, and the equally well-trafficked Hawaiian Gardens Bingo Club, less than half a mile down Norwalk Blvd, further enhances its appeal.
Location
State CA
County Los Angeles
Area Hawaiian Gardens
Zoning HGC4*
Exterior
Garage Spaces 14.0
Others
Special Listing Condition Standard
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Listed by Lyon Stahl Investment Real Estate, Inc.
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