$3,875,000
$3,850,000
0.6%For more information regarding the value of a property, please contact us for a free consultation.
0.38 Acres Lot
SOLD DATE : 03/10/2023
Key Details
Sold Price $3,875,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23028299
Sold Date 03/10/23
HOA Y/N No
Year Built 1971
Lot Size 0.383 Acres
Property Description
RARE opportunity to purchase one of Bellflower's beloved apartment complexes and start generating your very own passive income! 16 units with 17 private garages spanning over 2 buildings on a corner lot, one building is 2 stories with 16 units with 4 1-car garages on the first story below 2 of the units and the other 1-story building has 13 1-car garages. Each unit has their own 1-car garage, the 17th garage is used for storing maintenance products and material. There are 5 additional parking space and there is a common laundry area that also generates income. There are 3 studios, 4 1 bed/1 bath units, and 9 2 bed/2 bath units. 13 units are currently leased and the other 3 units (2 2 bed/2 bath and 1 studio) are vacant offering a fantastic opportunity for the new owner to make it their own! The owner pays the water, gas, and maintenance while the tenants pay their own electricity. Not only are these apartments highlight sought after because of their ideal location but there are also 26% upside in monthly renal income at market rent. Centrally located to the 91 and 605 freeways, Valley Christian Schools, Mayfair Middle/High School, Cerritos Mall, and many other sources of entertainment! Nearby parks include Caruthers Park, Flora Vista Park, and Reservoir Hill Park. This property has so much to offer already and has room for improvement to generate even more income is don't wait because this property will not last!
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning BFCG*
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 17.0
Garage Description 17.0
Pool None
Community Features Curbs
Total Parking Spaces 22
Private Pool No
Building
Lot Description Corner Lot
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7163004040
Acceptable Financing Cash, Conventional, 1031 Exchange, Submit
Listing Terms Cash, Conventional, 1031 Exchange, Submit
Financing Cash
Special Listing Condition Trust
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Bought with Brett Bayless • Brett Bayless, Broker
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "