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Listed by Pat Swanson, DRE #01382974 • Pat Swanson
$ 4,049,000
Est. payment | /mo
0.4 Acres Lot
$ 4,049,000
Est. payment | /mo
0.4 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CROC26147602
Year Built 1967
Lot Size 0.400 Acres
Source California Regional MLS
Property Description
Offering an attractive 6.00% Cap Rate on current income, this exceptionally maintained 16 unit apartment community has benefited from more than $500,000 in recent capital improvements, including a new roof, new electrical subpanels, dual pane vinyl windows throughout, updated landscaping, and all new balconies. Approximately 50% of the units have been extensively renovated, providing investors with a quality asset requiring minimal near term capital expenditures. Just a two minute walk from the heart of Downtown Bellflower, the property features an attractive unit mix of (8) 2 Bedroom / 1 Bathroom units and (8) 1 Bedroom / 1 Bathroom units. Additional amenities include 24 parking spaces, spacious private patios and balconies, individual storage lockers for every tenant, and a large on site laundry facility. With no local rent control (subject only to California AB 1482), this investment offers stable in place cash flow, significant capital improvements already completed, and excellent long term rental growth potential.
Location
State CA
County Los Angeles
Area Rg - Bellflower North Of 91 Frwy, S Of Alondra
Interior
Laundry Laundry Area, 30, 9
Exterior
Garage Spaces 24.0
Pool None
Building
Water District - Public
Others
Tax ID 7110024020
Special Listing Condition Not Applicable
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