A LA Multifamily success story in Bellflower
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.
Offering Price
$2,300,000
City
Bellflower
Current CAP
4.87%
Price per unit
$328,571
Lot Size
18,842 SF
9137 park
Offering Price
$2,300,000
Number of Units
7 Units
Bldg. Size
8,628 SF
Price per Foot
$267
Year Built
1974
Market CAP
6.86%
Zoning
C
Background
Our latest Bellflower multifamily sale was located at 9137 Park St. This seven-unit townhouse complex was located 1 mile west of Downtown Bellflower, and featured units not subject to local rent control. These townhomes fell under State of California rent control, which allowed for an annual rent increase of 5% + CPI (currently 8.8%). Residing on an 18,842 lot, 9137 Park featured an attractive unit mix comprising of (1) 3-bdrm. & 2.5-bath single-family townhome and (6) 2-bdrm. townhouse-style units.
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.
