SUCCESS STORY
Succesul Compass Referral in Bellflower
9203 Park St.
The fiduciary represented a trust whose beneficiaries were having difficulties agreeing on the disposition of the property.
Price
$
2,300,000
City
Bellflower
Current Cap Rate
4.87
%
Price P/ Unit
$
328,571
Lot Size
18,842
SF
9137 park
About the Property
Our latest Bellflower multifamily sale is located at 9137 Park St, a seven-unit townhouse complex 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 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.
Price
$
2,300,000
City
Bellflower
Current Cap Rate
4.87
%
Price P/ Unit
$
328,571
Lot Size
18,842
SF
Background
9137 Park was a well-maintained townhouse complex featuring 7 units, not under local rent control restrictions, that allowed an 8.8% annual rent increase (5% + CPI). In addition to approx. 28% rental upside on existing rents, the 18,842 lot with several one-car garages, provided the opportunity to add an ADU or two (buyer to verify). A residential agent from Compass San Diego, already familiar with ownership, contacted KST to secure the listing and guide the owners in diversifying their portfolio.
Result
Right before the holiday season, we sent an email campaign to our database of nearly 19,000 experienced investors and agents. We identified a local investor who submitted an attractive all-cash offer. Given the property’s condition, due diligence and inspections went smoothly, and escrow closed 21 days later at $2,300,000. The sale of 9137 Park not only represented our 2nd Bellflower property sale in the last 30 days, but also marked the 6th successful referral-based transaction we’ve closed in 2023.
