10861 Walnut Street, Los Alamitos, California 90720, Los Alamitos, 90720 - 0 bed, 0 bath
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Los Alamitos, California 90720
This Value-Add Multifamily Asset is listed at $1,700,000, offering a strategic acquisition in the high-demand Los Alamitos market. Although priced above the $1,499,731 Fair Market Value, the property’s Condition Rating of 4 and current below-market rents present a clear path to increased ROI through a comprehensive renovation program. The Versatile Unit Mix, featuring a standalone single-story house and a duplex on a 6,534 sqft lot, is complemented by a Superior Parking Ratio including five on-site spaces. This asset is ideally suited for Buy-and-Hold Investors or Owner-Occupants seeking a high-upside residential income property.
Property is moderate renovation needed.
The property consists of structures built in 1960 and 1985 that appear to be maintained but are significantly outdated. The listing description explicitly states that the property requires a 'comprehensive renovation program' to capture rental upside, indicating that the interiors, kitchens, and bathrooms are likely in original or aged condition. Exterior photos show signs of wear such as peeling paint on the carport and the use of window AC units rather than modern central climate control.
The property features a unique combination of a standalone single-story house with a private yard and a duplex with 2-bedroom/2-bathroom units, appealing to a wide range of high-quality tenants.
With current rents positioned below market rates, the property offers a clear value-add opportunity for investors to increase cash flow through strategic renovations.
The inclusion of four carport spaces and a single-car garage provides a competitive advantage in the Los Alamitos market, where on-site parking is often limited.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6534, other record lot size in square feet = 6750. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2734, other record living area = 835.
To achieve maximum market rents, the property requires a comprehensive renovation program, necessitating immediate capital expenditure from the new owner.
With the original structure dating back to 1960, the property may require ongoing maintenance or system upgrades common with older multifamily assets.
10861 Walnut Street is a 3-unit multifamily property located in Los Alamitos, California. Built in 1960 and 1985 on a 0.15-acre parcel, the property consists of two separate buildings totaling 2,734 rentable square feet. The property features a desirable unit mix of 1 two-bed/one-bath single-story house and 2 two-bed/ two-bath units configured as an up/down duplex. The house includes an attached garage and a spacious private yard, appealing to tenants seeking additional privacy and usable outdoor space, while the duplex units offer efficient layouts with broad rental appeal. The property benefits from ample on-site parking, including four carport spaces and one single-car garage, supporting tenant convenience in a supply-constrained parking market. Current rents are below market, presenting a clear opportunity for a new owner to capture rental upside through a comprehensive renovation program. Overall, the asset offers a low-density residential setting with a functional unit mix, providing both immediate leasing potential and the ability to enhance income in the desirable Los Alamitos market.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,734 | 2,795 | 50% |
| Lot Size | 6,534 | 9,313.5 | 25% |
| Price | $1.70M | $1.70M | 50% |
| Price per sq ft | $622 | $556 | 50% |
| Built year | 1960 | 1963 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 9 | 152 | 25% |
Apr 13, 2026
$1,700,000
Initial Listing