Sold

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$2,300,000

9137 Park Street

9137 Park Street, Bellflower, CA 90706

Description

9137 Park is 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%). 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 6.07% CAP rate and 11.49 GRM. 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).

Features

15 Beds

11 Baths

8,628 Sq.Ft. Living Area

0.43 Acres Lot

Features & Amenities

Interior

Total Bedrooms 15
Total Bathrooms 11
Laundry Room In Garage
Flooring Carpet
Appliances Dishwasher, Disposal, Refrigerator, Dryer, Washer

Exterior

Stories 2
Garage Space 7.0
Parking Door-Single, Garage, Uncovered
Heat Type Wall Furnace
Air Conditioning Wall/Window Unit(s)

Area & Lot

Status Sold
LIVING SPACE 8,628 Sq.Ft.
LOT SIZE 0.43 Acres
MLS® ID 23307811
Type Residential
Year Built 1977
View Description None

Financial

SALES PRICE $2,300,000
Zoning BFR2PD*
Jon

Jon Granston

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