
Closed Listing
7 Value-Add Townhouse-Style Units in Bellflower
9137 park st
sold in
Bellflower
Sold At
$
2,300,000
7
Number of Units
1977
Year Built
10,282
SF
Square Footage
18,842 SF
SF
Lot Size
BFR2PD
Zoning
9137 Park St, Bellflower, CA 90706
About the Property
Kenny Stevens Team and Granston Group are pleased to present 9137 Park St, 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.
7
Number of Units
1977
Year Built
10,282
SF
Square Footage
18,842 SF
SF
Lot Size
BFR2PD
Zoning
Detailed Brochure on Real Estate Opportunities
Price P/ Unit
$364,286
Price p/ Sq. ft.
$296
Proforma Cap Rate
6.07%




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