11305 Alondra Boulevard

Norwalk CA 90650

10425 sq. ft.

20121 sq. ft.

Other

Currently for sale - view listing

Overview

11305 Alondra is a ten-unit courtyard-style complex, that is not subject to local rent control policies, and allows an 8.8% annual rent increase (State of CA maximum - 5% + Consumer Price Index). Located across the street from Cerritos College, this courtyard-style property features (8) 2-bdrm. and 1.5-bath townhouse-style units and (2) 2-bdrm. flats. Each unit averages approx. 1,000 SF and features a porch or back patio. Renovated units include wood-laminate flooring, quartz countertops, updated cabinetry in the kitchen and bathroom, and stainless-steel appliances. 11305 Alondra is offered at $350 per foot, well below comparable sales in the area. The property presents approx. 21% rental upside compared to renovated units in the area. At market rents, the GRM is 11.41 and the CAP is 6.20%. In addition, the property includes a laundry room and (10) 2-car garages that offer the opportunity to add one or two ADUs (buyer to verify).