NOT LISTED FOR SALE

16137 Cornuta Ave Bellflower, CA 90706

5 Beds
5 Baths
10,585 Sq Ft
0.46 Acres

Last Sold January 25, 2016

Last sale price $2,400,000 $227 Per Sq Ft

16 Days on Market

About This Home

As of January 2016

Located in an excellent rental area of Bellflower - this property offers a buyer the opportunity to purchase a property with an excellent unit mix from a long-term owner. The subject property offers securitized access to garage and carport parking. There are on-site laundry facilities and a BBQ area for tenants to enjoy. Units have private balconies and air conditioning. With rents well below market levels, a new owner can easily bring rents up and increase their return with prudent management and renovation. The property is 100% occupied and operates extremely well for the current owner, giving an investor a high amount of security while still offering a large amount of upside on proforma income.

Last Agent to Sell the Property

Doug Rodermund

Morgan Skenderian License #01314304 Listed on: 10/12/2015

Last Buyer's Agent

NoEmail NoEmail

NONMEMBER MRML

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.46 Acre Lot
  • 1 Common Wall
  • Density is 16-20 Units/Acre

Parking

  • 10 Car Garage
  • 10 Carport Spaces

Home Design

  • 10,585 Sq Ft Home
  • Property Attached

Bedrooms and Bathrooms

  • 5 Bedrooms
  • 5 Bathrooms

Outdoor Features

  • Exterior Lighting

Listing and Financial Details

  • Tax Lot 106
  • Assessor Parcel Number 7109004026

Community Details

Overview

  • 17 Buildings

Building Details

  • 1 Separate Electric Meter
  • 1 Separate Gas Meter
  • 18 Separate Water Meters
  • Gardener Expense $600
  • Insurance Expense $3,176
  • Maintenance Expense $11,106
  • Other Expense $1,000
  • Pest Control $456
  • Professional Management Expense $3,600
  • Trash Expense $4,029
  • Water Sewer Expense $4,028
  • New Taxes Expense $24,707
  • Gross Income $15,425
  • Net Operating Income $126,845

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

10

Listing Details

  • CapRate: 5.30
  • Professional Management Expense: 3600.00
  • Property Attached: Yes
  • Water Sewer Expenses: 4028.00
  • Property Type: Residential Income
  • Gardener Expense: 600.00
  • Parcel Number: 7109004026
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Common Walls: 1 Common Wall
  • Levels: Two
  • Price Per Square Foot: 226.74

Exterior Features

  • Pool Private: No

Garage/Parking

  • Carport Spaces: 10.00
  • Garage Spaces: 10.00
  • Total Parking Spaces: 40.00

Utilities

  • Utilities: Sewer Available
  • Pest Control Expense: 456.00
  • Trash Expense: 4029.00
  • Water Source: Public

Condo/Co-op/Association

  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Lot Features: 16-20 Units/Acre
  • Lot Size Sq Ft: 20203.00
  • Price Per Lot Square Foot: 118.79
  • Lot Size Acres: 0.4640

Multi Family

  • Gross Income: 15425.00
  • Gross Multiplier: 12.97
  • Gross Scheduled Income: 185100.00
  • Insurance Expense: 3176.00
  • Lot Size Area: 20203.0000 Square Feet
  • Maintenance Expense: 11106.00
  • Maintenance Percent: 6.00
  • Net Operating Income: 126845.00
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 18
  • Number Of Units Total: 1
  • Operating Expense: 52702.00
  • Operating Expense Percent: 28.50
  • Other Expense: 1000.00
  • Other Expense Description: Admin
  • Rent Control: No
  • Total Actual Rent: 14900.00
  • Vacancy Allowance: 5553
  • Vacancy Allowance Rate: 3.00

Tax Info

  • New Taxes Expense: 24707.00
  • Tax Lot: 106

Range of Values:

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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 Change Sq Ft Price
01/25/2016 01/25/16 Sold $2,400,000 0.0% $227 / Sq Ft
10/28/2015 10/28/15 Pending -- -- --
10/12/2015 10/12/15 For Sale $2,400,000 -- $227 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Doug Rodermund

    Seller's Agent in 2016

    Doug Rodermund

    Morgan Skenderian

    (949) 295-8560

    2 in this area

    21 Total Sales

    Doug Rodermund
    Section Image

  • N

    Buyer's Agent in 2016

    NoEmail NoEmail

    NONMEMBER MRML

    (646) 541-2551

    6 in this area

    5,802 Total Sales

    NoEmail NoEmail
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW15223372

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Bellflower 90706

16137 Cornuta Ave, Bellflower, CA

This home is located at 16137 Cornuta Ave, Bellflower, CA 90706 since 12 October 2015. This property was built in 1964. 16137 Cornuta Ave is a home located in Los Angeles County with nearby schools including Frank E. Woodruff Elementary School, Bellflower High School, and Southland Christian Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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