Property Details

Price $2,550,000

Year Built 1977

# of Units 7

Price P/ Unit $364,286

Sq. ft. 10,282 SF

Price p/ Sq. ft. $296

Current Cap Rate 4.27%

Proforma Cap Rate 6.07%

Lot Size 18,842 SF

Zoning BFR2PD

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About the Property

Kenny Stevens Team and Granston Group are pleased to present 9137 Park, a sprawling townhouse complex located 1 mile west of Downtown Bellflower that features seven value-add townhouse-style units not subject to local rent control. These townhomes fall under State of California rent control, which allows for an annual rent increase of 5% + CPI (currently 8.8%). Residing on an 18,842 SF lot, 9137 Park features an attractive unit mix comprising of (1) 3-bdrm. & 2.5-bath single-family townhome and (6) 2-bdrm. townhouse-style units. Each unit features a back patio, a one-car garage with a side-by-side washer and dryer, and an uncovered parking space. Please note, there may be a possibility for a future owner to add an ADU or two (buyer to verify). The property presents approx. 27% rental upside compared to renovated townhomes in the area, and is offered at $296 per foot, which at the list price it stabilizes at a 5.97% CAP rate and 11.49 GRM.

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