9746 Park St - Apartments FOR SALE


Bellflower, CA 90706
$3,998,000 USD
213-864-2862
9746 Park St, Bellflower, CA for Sale
$3,998,000 USD
Apartments - FOR SALE
1/11
null | 6.32% Cap Rate

9746 Park St
Bellflower, CA 90706


HIGHLIGHTS

  • 6.32% Actual Cap Rate in a non rent control submarket!
  • Mix: (8) 2 Bed / 1 Bath & (8) 1 Bed / 1 Bath Unit
  • 24 Total Parking Spaces (22 Open & 2 Covered Spaces)
  • New Roof, Vinyl Windows, Sub Panels and More
  • Over $500,000+ in Capital Improvements made

OVERVIEW

$400,000 Price Reduction! Motivated Seller with Up-leg identified. This property has benefited from over $500,000 in capital improvements, including all new electrical subpanels, a new roof, new dual-pane vinyl windows throughout, updated landscaping and irrigation, new exterior paint, and significant wood and stucco repairs. Eight of the 16 units have been renovated, with washer and dryer units included in select apartments. In addition, all required SB 721 work has been completed, including the installation of new balconies. The property currently operates at a 10.60 GIM on actual income while still offering meaningful upside through the renovation of the remaining classic units. Note: The Seller is also selling 12 upgraded units at 9900 Ramona St. in Bellflower. Please inquire within if interested please inquire within.

FOR SALE DETAILS

PRICE

$3,998,000 USD

PRICE/SF

$271 USD /SF

# OF UNITS

16

PRICE/UNIT

$249,875

CAP RATE

6.32%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The City Lights Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,428 SF

ZONING

BFR3*

APN/PARCEL ID

7110-024-020

ASK ABOUT THIS PROPERTY

Pat SwansonStream Realty Partners, LPMore Info
213-864-2862

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Pat SwansonStream Realty Partners, LPMore Info
213-864-2862

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.