NOT LISTED FOR SALE

16108 Cornuta Ave Bellflower, CA 90706

3 Beds
2 Baths
5,732 Sq Ft
0.54 Acres

Last Sold September 19, 2024

Last sale price $2,900,000 $506 Per Sq Ft

22 Days on Market

Highlights

  • 0.54 Acre Lot
  • 10 Attached Carport Spaces
  • 1-Story Property
  • Laundry Room
  • Level Lot

About This Home

As of September 2024

16108 Cornuta Avenue is in the desirable community of Bellflower. The subject property is very well-maintained and offers over 10% upside in rents. 16108 Cornuta Ave. is a rarely available single-story asset on a large 23,000 sq. ft. lot.

Last Agent to Sell the Property

Peter Gillin

Morgan Skenderian Brokerage Email: pdg@morganskenderian.com License #01433769 Listed on: 05/29/2024

Last Buyer's Agent

Juan Cardenas

Remax Commercial and Investment Realty License #01233927

Remax Commercial and Investment Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 0.54 Acre Lot
  • 1 Common Wall
  • Level Lot
  • Density is 21-25 Units/Acre

Parking

  • 5 Open Parking Spaces
  • 2 Car Garage
  • 10 Attached Carport Spaces
  • Parking Available
  • Assigned Parking

Home Design

  • Apartment
  • Entry on the 1st floor

Interior Spaces

  • 5,732 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Laundry

  • Laundry Room
  • Washer and Gas Dryer Hookup

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 130
  • Assessor Parcel Number 7109005030
  • $3,093 per year additional tax assessments

Community Details

Overview

  • 10 Buildings
  • 12 Units

Building Details

  • 12 Separate Electric Meters
  • 12 Separate Gas Meters
  • 1 Separate Water Meter
  • Gardener Expense $4,800
  • Insurance Expense $6,760
  • Maintenance Expense $19,114
  • Other Expense $2,500
  • Professional Management Expense $7,200
  • Trash Expense $4,260
  • Water Sewer Expense $4,152
  • New Taxes Expense $32,807
  • Operating Expense $84,576
  • Gross Income $780
  • Net Operating Income $180,292

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Parking

2

Listing Details

  • CapRate: 6.00
  • Professional Management Expense: 7200.00
  • Property Attached: Yes
  • Water Sewer Expenses: 4152.00
  • Zoning: BFR3*
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 4800.00
  • Parcel Number: 7109005030
  • Year Built: 1953
  • AgentOnly_SellerConsiderConcessionYN: No
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: 1 Common Wall
  • Entry Level: 1
  • Levels: One
  • Price Per Square Foot: 505.93

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 10.00
  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Assigned, Attached Carport
  • Total Parking Spaces: 17.00
  • Uncovered Spaces: 5.00

Utilities

  • Laundry: Yes
  • Laundry Features: Gas & Electric Dryer Hookup, Washer Hookup
  • Sewer: Public Sewer
  • Trash Expense: 4260.00
  • Water Source: Public

Condo/Co-op/Association

  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 21-25 Units/Acre, Level
  • Lot Size Sq Ft: 23332.00
  • Lot Size Acres: 0.5356

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Average1 Bed Area: 450 Square Feet
  • Average2 Bed Area: 525 Square Feet
  • Gross Income: 780.00
  • Gross Multiplier: 10.97
  • Gross Operating Income: 264868.00
  • Gross Scheduled Income: 273060.00
  • Insurance Expense: 6760.00
  • Lot Size Area: 23332.0000 Square Feet
  • Maintenance Expense: 19114.00
  • Net Operating Income: 180292.00
  • Number Of Separate Electric Meters: 12
  • Number Of Separate Gas Meters: 12
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 12
  • Operating Expense: 84576.00
  • Operating Expense Percent: 31.00
  • Other Expense: 2500.00
  • Other Expense Description: Lgl/Prof
  • Other Income1: 780.00
  • Other Income Description: Storage She
  • Rent Control: No
  • Total Actual Rent: 22690.00
  • Total Expenses: 84576.00
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 32807.00
  • Tax Census Tract: 5541.05
  • Tax Lot: 130
  • TaxOtherAnnualAssessmentAmount: 3093.00

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/19/2024 09/19/24 Sold $2,900,000 -3.2% $506 / Sq Ft
06/20/2024 06/20/24 Pending -- -- --
05/29/2024 05/29/24 For Sale $2,995,000 -- $523 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $18,190 $2,895,000 $1,400,000 $1,495,000
2024 $18,190 $1,345,113 $696,951 $648,162
2023 $17,514 $1,318,739 $683,286 $635,453
2022 $17,224 $1,292,883 $669,889 $622,994
2021 $16,879 $1,267,533 $656,754 $610,779
2020 $16,744 $1,254,537 $650,020 $604,517
2019 $16,473 $1,229,939 $637,275 $592,664
2018 $15,785 $1,205,824 $624,780 $581,044
2016 $15,125 $1,159,002 $600,520 $558,482
2015 $14,827 $1,141,594 $591,500 $550,094
2014 $14,694 $1,119,233 $579,914 $539,319
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW24108269

California Regional Multiple Listing Service (CRMLS)