Sold: Jul 19, 2021
Address
14505 Corby Avenue Norwalk, CA
Price
$ 832,000
Property Attributes
  • ID#PW21054836
  • TypeIncome
  • CountyLOS ANGELES
  • CityNorwalk
  • Zip90650
  • Style
  • Price$ 832,000
  • Bedrooms4
  • Full Bathrooms4
  • Half Bathrooms0
  • Sqr Footage3016
  • Lot Size5,714 SqFt
Listing Provided Courtesy Of:
Ralph Castaneda with Keystone Properties, Inc..
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

14505 Corby Avenue Apartments is one of two adjacent four-unit apartment buildings located on Corby Ave. in the City of Norwalk. The property offers all two bedroom one bath units. The property was acquired by the owner (a non-profit housing corporation) and has been an affordable rental complex with a rent-restriction covenant in place since acquisition. The owner received acquisition assistance from the city of Norwalk in the form of HOME funds. Upon the close of escrow, the city funds will be retuned and the rent restriction covenant will no longer be in place. This will allow a new owner to gradually raise the existing rents; and as the complex experiences turnover, bring the rents to full market. As a result the new owner may be able to obtain significant upside from the current rents and appreciation. The owner would prefer to sell both buildings simultaneously, however, will consider individual sales.

Price History
3/17/2021 Listed $1,050,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90650

Price
AVG $1.3M
$830K