NOT LISTED FOR SALE
3 Beds
2 Baths
5,732 Sq Ft
0.54 Acre Lot

Sale Details

Date Sold: September 19, 2024

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

22 Days on Market

Highlights

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

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

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 23,332 Sq Ft 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 in unit
  • 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

0.54 Acres

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

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 1, 2024
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,908,000
Interest Rate
0.0647%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 6, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$752,000
Interest Rate
0.0586%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Oct 22, 2003
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$2,895,000 Ticor Title
$965,000 Commerce Title
-- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,908,000
Previous Owner $1,495,000
Previous Owner $890,000
Previous Owner $752,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $36,036 $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)
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