12013 Walnut Street, Norwalk, California 90650, Norwalk, 90650 - bed, bath
ACTIVE$1,150,000
12013 Walnut Street, Norwalk, California 90650
0Bed
0Bath
2,762Sqft
8,400Lot
Year Built
1910
Close
-
List price
$1.15M
Original List price
$1.2M
Price/Sqft
$416
HOA
-
Days on market
-
Sold On
-
MLS number
SB25017040
Home ConditionPoor
Features
Patio
View-
About this home
We found 3 Cons,5 Pros. Rank: price - $1.15M(60th), sqft - 2762(50th), beds - undefined(50th), baths - undefined(50th).
Great Triplex that feels like two separate lots. The separate front house has it's own fenced in yard space with a very large gated driveway to the Southeast of the building. Stable units with 18+ months of no turnover. The rear duplex units each have their own fenced yard areas as well. There are 4+ parking spaces behind the rear duplex off of an alley. Great freeway access, proximate to the 5, 605, 105, and 91 freeways. Units separately metered for gas and electric. 2 of 3 units have in unit laundry.
Price History
Date
Event
Price
05/27/21
Sold
$1,010,000
07/25/05
Sold
$445,000
Condition Rating
Poor
Built in 1910, this triplex features extremely dated interiors across all units. Kitchens and bathrooms exhibit older laminate cabinets, worn laminate countertops, white older model appliances, and linoleum/vinyl flooring, all indicative of renovations likely 30-50+ years ago. While functional for current tenants, these areas require substantial rehabilitation to meet modern standards. The property's age also suggests significant capital expenditures will be needed for system upgrades and ongoing maintenance, aligning with the 'poor' condition criteria.
Pros & Cons
Pros
Income-Generating Triplex: The property is a triplex, offering a robust residential income stream, ideal for investors seeking multi-unit opportunities.
Stable Tenant Base: Demonstrated stability with over 18 months of no tenant turnover, indicating reliable income and reduced vacancy risk.
Separately Metered Utilities: Each unit is separately metered for gas and electric, simplifying landlord responsibilities and reducing operating costs.
Private Outdoor Spaces: All units benefit from individual fenced yard areas, enhancing tenant privacy and appeal.
Strategic Freeway Proximity: Offers excellent access to major freeways (5, 605, 105, 91), providing convenient commuting for tenants.
Cons
Historic Construction (1910): Built in 1910, the property may require significant capital expenditures for system upgrades and ongoing maintenance due to its age.
Lack of Scenic Views: The property does not offer any notable views, which could limit its premium appeal compared to properties with desirable vistas.
Recent Price Adjustment: A recent price reduction from $1.2M to $1.15M suggests potential market resistance or an initial overestimation of value.