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11062 Excelsior Dr 8 Unit Apartment Building $2,250,000 ($281,250/Unit) 6.69% Cap Rate Norwalk, CA 90650
Investment Highlights
- Outstanding Rental Location in Norwalk
- 6.69% Cap Rate & 9.4 GRM on Current Income
- Separately Metered for Gas & Electricity
- 100% 2-Bed / 1-Bath
- New Roof, Facia and Exterior Paint
- Potential to add ADU's - Buyer to Verify
Executive Summary
PRICE IMPROVEMENT! Now priced at $281K/unit with a current 6.69% CAP & 9.4 GRM, this 8-unit delivers immediate cash flow. The subject property is located in a strong Norwalk rental market. The property features an all 2-bedroom/1-bathroom unit mix with separate gas and electric meters. Recent improvements include a new roof, new fascia, and new exterior paint. The property is offered at a 5.78% current cap rate and 10.58 GRM with additional ADU potential (buyer to verify). Excellent unit mix and long-term investment fundamentals in a high-demand rental location.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$239,460
|
$35.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,578
|
$1.44
|
| Effective Gross Income |
$229,882
|
$34.52
|
| Taxes |
$29,593
|
$4.44
|
| Operating Expenses |
$49,694
|
$7.46
|
| Total Expenses |
$79,287
|
$11.91
|
| Net Operating Income |
$150,595
|
$22.61
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $239,460 |
| Annual Per SF | $35.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $9,578 |
| Annual Per SF | $1.44 |
| Effective Gross Income | |
|---|---|
| Annual | $229,882 |
| Annual Per SF | $34.52 |
| Taxes | |
|---|---|
| Annual | $29,593 |
| Annual Per SF | $4.44 |
| Operating Expenses | |
|---|---|
| Annual | $49,694 |
| Annual Per SF | $7.46 |
| Total Expenses | |
|---|---|
| Annual | $79,287 |
| Annual Per SF | $11.91 |
| Net Operating Income | |
|---|---|
| Annual | $150,595 |
| Annual Per SF | $22.61 |
Property Facts Under Contract
| Price | $2,250,000 | Apartment Style | Low-Rise |
| Price Per Unit | $281,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 6.69% | Building Size | 6,775 SF |
| Gross Rent Multiplier | 9.4 | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1969 |
| Property Subtype | Apartment | ||
| Zoning | R317U | ||
| Price | $2,250,000 |
| Price Per Unit | $281,250 |
| Sale Type | Investment |
| Cap Rate | 6.69% |
| Gross Rent Multiplier | 9.4 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 6,775 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | R317U |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 8 | - | - |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 8078-023-015 | Total Assessment | $595,709 (2025) |
| Land Assessment | $222,603 (2025) | Annual Taxes | $29,593 ($4.37/SF) |
| Improvements Assessment | $373,106 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
8078-023-015
Land Assessment
$222,603 (2025)
Improvements Assessment
$373,106 (2025)
Total Assessment
$595,709 (2025)
Annual Taxes
$29,593 ($4.37/SF)
Tax Year
2026
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11062 Excelsior Dr
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