12003 Walnut Street, Norwalk, California 90650, Norwalk, 90650 - 0 bed, 0 bath
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Norwalk, California 90650
This Quadruplex Residential Income Asset represents a High-Potential Investment Opportunity, listed at $1,299,999—positioned well below the $1,336,189 Fair Market Value by 2%. This valuation gap provides $36,190 in Instant Equity. With a Condition Rating of 6, the property is primed for redevelopment, offering a 7,223 sqft corner lot with potential for 6 townhomes. This is an ideal acquisition for Buy-and-Hold Investors or Real Estate Developers seeking significant long-term value-add potential.
Property is land value only, full reconstruction required.
Built in 1913 (111 years old) with no mention of renovations. The listing explicitly markets the property for its land value and the potential to 'build 6 townhomes,' indicating the current structures are at the end of their economic life.
The property offers a rare opportunity to build up to 6 townhomes or add additional units on a spacious 7,223 sqft lot, providing massive value-add potential for developers.
As a quadruplex with a mix of one and two-bedroom units, the property provides immediate rental income and risk diversification across four separate tenancies.
The corner lot positioning with alley access for the rear units enhances accessibility and provides a superior layout for future expansion or high-density redevelopment.
Given the property's age, buyers should anticipate potential deferred maintenance and the need for significant updates to major systems like plumbing, electrical, and roofing.
The list price of $1.3 million reflects the land's future potential rather than the current square footage, which may challenge initial cash-on-cash returns for traditional investors.
The Front house consists of a one bedroom and two-bedroom unit. The other two 1-bedroom units are in the back with access through the alley. This corner lot property has a great layout. Plenty of room to add additional units or use the land to build 6 townhomes. Property has many possibilities for expansion. Great Location in a desirable part of Norwalk.
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 | 2,052 | 2,052 | 50% |
| Lot Size | 7,223 | 7,223 | 50% |
| Price | $1.30M | $1.10M | 67% |
| Price per sq ft | $634 | $634 | 50% |
| Built year | 1913 | 1955 | 33% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 99 | 33% |
May 23, 2026
$1,299,999
Initial Listing