11305 Alondra is a sprawling courtyard-style complex across the street from Cerritos College and features (10) 2-bdrm. units not subject to local rent control. These units fall under the State of California rent control, which currently allows for an 8.8% annual rent increase. Residing on a 20,121 SF lot, 11305 Alondra features an attractive unit mix comprising of (8) 2-bdrm. and 1.5-bath townhouse-style units and (2) 2-bdrm units . Each townhouse-style unit is approx. 1,000 SF and features a porch or back patio. Please note, the property features (10) 2-car garages, offering the possibility of ADUs (buyer to verify). This well-maintained property presents approx. 21% rental upside compared to renovated townhomes in the area, and is offered at $350 per foot, which, at the list price, stabilizes at a 6.20% CAP rate and 11.41 GRM.
10 Units with No Local Rent Control by Cerritos College
11305 Alondra Boulevard, Norwalk
Property Details
Price $3,650,000
Year Built 1984
# of Units 10
Price P/ Unit $365,000
Sq. ft. 10,425 SF
Price p/ Sq. ft. $350
Current Cap Rate 4.47%
Proforma Cap Rate 6.20%
Lot Size 20,121 SF
Zoning NOR3*
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