Our latest Bellflower multifamily sale is located at 9203 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 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.
About The Property
Stats
Price $2,300,000
Year Built 1974
City Bellflower
Units 7
Current CAP 4.87%
Price p/ Sq. ft. $267
Price P/ Unit $328,571
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 SF lot with several one-car garages, p rovided 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.
