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9137 Park St Bellflower, CA 90706
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Key Details
Sold Price $2,300,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,628 sqft
Price per Sqft $266
MLS Listing ID 23-307811
Sold Date 12/29/23
Style Garden Home
Bedrooms 15
Year Built 1977
Lot Size 0.433 Acres
Property 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).
Location
State CA
County Los Angeles
Area Bellflower North Of 91 Frwy, S Of Alondra
Zoning BFR2PD*
Rooms
Other Rooms None
Interior
Heating Wall
Cooling Wall/Window
Flooring Carpet, Wood Laminate
Equipment Built-Ins, Dishwasher, Dryer, Garbage Disposal, Hood Fan, Range/Oven, Refrigerator, Freezer, Washer
Laundry Garage, In Unit
Exterior
Parking Features Garage - 1 Car, Uncovered
Garage Spaces 14.0
View Y/N No
View None
Building
Story 2
Architectural Style Garden Home
Level or Stories Two
Others
Special Listing Condition Standard
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