NOT LISTED FOR SALE

9241 Cedar St Bellflower, CA 90706

Estimated Value: $1,753,530 - $2,209,000

13 Beds
6 Baths
5,353 Sq Ft
$370/Sq Ft Est. Value

Last Sold January 31, 2014

Last sale price $880,000 $164 Per Sq Ft

Est. 125% increase in value since last sale

Current estimated payment $11,556/month

76 Days on Market

Highlights

  • 0.35 Acre Lot
  • Laundry Room
  • Carpet
  • No HOA
  • Wood Siding
  • Wall Furnace

About This Home

As of January 2014

Six Units consisting of the following: Front house (9241), spacious 3 bed, 1.75 bath, fireplace, detached bonus room, two car detached garage w/laundry hook ups, Second house (9243), 2 bed, 1 bath, one car garage w/ laundry hookups, Third house (9243½), 2 bed, 1 ba, one car garage w/laundry hook ups, Fourth unit (9245), upstairs rear unit over garages, 2 bed, 1 ba, one car garage w/laundry hook ups, Fifth unit (9245¼), upstairs rear unit, 2 bed, 1 ba, 1 car garage w/laundry hook ups, Sixth unit (9245½), downstairs rear unit, 2 bed, 1 ba, one car garage, Laundry hook ups in rear shed off back of structure. Long standing tenants, rents are below current market rents, excellent upside potential. The various structures on the property appear to have been built starting in 1947, 1957 and 1963. Buyer to verify with appropriate agency or department deemed reliable to Buyer. Prospective Buyer to perform their own Pro Forma.

**Notice to all prospective Buyers, it is the intent of the Seller to affect a 1031 tax-deferred exchange. Property to be sold in it's "present condition". Please do not disturb residents. No sign on the property.

Last Agent to Sell the Property

Gary Endo

Duke & Associates License #00878613 Listed on: 01/06/2014

Last Buyer's Agent

Michael Jefferson

Compass License #01898616

Compass

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,235

Year Built

  • Built in 1963

Lot Details

  • 0.35 Acre Lot
  • 1 Common Wall

Parking

  • 6 Car Garage

Home Design

  • Property Attached
  • Wood Siding
  • Stucco

Interior Spaces

  • 5,353 Sq Ft Home
  • Living Room with Fireplace
  • Carpet

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 6 Bathrooms

Laundry

  • Laundry Room
  • Laundry in Garage
  • Laundry Located Outside

Additional Features

  • Exterior Lighting
  • Urban Location
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for electricity, gas
  • Tax Lot 214
  • Assessor Parcel Number 7162009029

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 6 Units

Building Details

  • 6 Leased Units
  • 6 Separate Electric Meters
  • 6 Separate Gas Meters
  • Gross Income $5,395
  • Net Operating Income $43,052

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,235

Year Built

Built in 1963

Lot Details

0

Parking

6

Listing Details

  • Assessments: Yes
  • CapRate: 4.50
  • Improvements Percent: 60.00
  • Property Attached: Yes
  • Zoning: BFR2
  • Property Type: Residential Income
  • Parcel Number: 7162009029
  • Year Built: 1963
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Common Walls: 1 Common Wall
  • Flooring: Carpet
  • Fireplace Features: Living Room
  • Levels: Two
  • Price Per Square Foot: 164.39

Exterior Features

  • Pool Private: No
  • Spa: No
  • Construction Materials: Stucco, Wood Siding

Garage/Parking

  • Garage Spaces: 6.00
  • Parking: No
  • Total Parking Spaces: 10.00

Utilities

  • Utilities: Sewer Connected
  • Heating: Yes
  • Laundry: Yes
  • Heating Type: Wall Furnace
  • Laundry Features: In Garage, Outside
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights, Urban

Lot Info

  • Land Value Percent: 40.00
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 15380.00
  • Lot Size Acres: 0.3530

Rental Info

  • Tenant Pays: Electricity, Gas

Multi Family

  • Gross Income: 5395.00
  • Gross Multiplier: 14.92
  • Gross Scheduled Income: 64740.00
  • Lot Size Area: 15380.0000 Square Feet
  • Net Operating Income: 43052.00
  • Number Of Separate Electric Meters: 6
  • Number Of Separate Gas Meters: 6
  • Number Of Units Leased: 6
  • Number Of Units Total: 6
  • Operating Expense: 18450.00
  • Operating Expense Percent: 30.00
  • Rent Control: No
  • Total Actual Rent: 5395.00
  • Vacancy Allowance Rate: 5.00

Tax Info

  • Taxes Percent: 99.99
  • Tax Lot: 214
  • Tax Year: 2012

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 18, 2022
Sold by
Dora Palomo
Bought by
Luna Hugo Palomo
Current Estimated Value
$1,981,265

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,530,000
Outstanding Balance
$1,433,324
Interest Rate
4.16%
Mortgage Type
New Conventional
Estimated Equity
$547,941

Purchase Details

Closed on
May 8, 2015
Sold by
Luna Hugo Palomo
Bought by
Luna Hugo Palomo and Hugo Palomo Luna Living Trust

Purchase Details

Closed on
Dec 5, 2014
Sold by
Luna Hugo Palomo and Palomo Hugo
Bought by
Luna Hugo Palomo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$570,000
Interest Rate
3.89%
Mortgage Type
Negative Amortization

Purchase Details

Listed on
Jan 6, 2014
Closed on
Jan 20, 2014
Sold by
Tippett Jerry W and Tippett Ramona J
Bought by
Palomo Hugo
Seller's Agent
Gary Endo
Duke & Associates
Buyer's Agent
Michael Jefferson
Compass
List Price
$966,000
Sold Price
$880,000
Premium/Discount to List
-$86,000
-8.9%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.15%
Original Mortgage
$800,000
Interest Rate
4.45%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 27, 1993
Sold by
Tippett Jerry W and Tippett Ramona J
Bought by
Tippett Jerry W and Tippett Ramona J
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Luna Hugo Palomo -- Chicago Title
Luna Hugo Palomo -- None Available
Luna Hugo Palomo -- Stewart Title Of Ca Inc
Palomo Hugo $880,000 Old Republic Title Company
Tippett Jerry W -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Luna Hugo Palomo $1,530,000
Previous Owner Luna Hugo Palomo $570,000
Previous Owner Palomo Hugo $800,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/31/2014 01/31/14 Sold $880,000 -8.9% $164 / Sq Ft
01/16/2014 01/16/14 Pending -- -- --
11/01/2013 11/01/13 For Sale $966,000 -- $180 / 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 $14,235 $1,078,747 $485,436 $593,311
2024 $14,235 $1,057,596 $475,918 $581,678
2023 $13,704 $1,036,860 $466,587 $570,273
2022 $13,475 $1,016,531 $457,439 $559,092
2021 $13,197 $996,600 $448,470 $548,130
2020 $13,090 $987,042 $443,872 $543,170
2019 $12,877 $967,702 $435,169 $532,533
2018 $12,328 $948,742 $426,637 $522,105
2016 $11,785 $911,269 $410,071 $501,198
2015 $11,552 $897,582 $403,912 $493,670
2014 -- $286,362 $114,544 $171,818
Source: Public Records

Agents Affiliated with this Home

  • G

    Seller's Agent in 2014

    Gary Endo

    Duke & Associates

    (562) 633-9705

    8 Total Sales

    Gary Endo
    Section Image

  • M

    Buyer's Agent in 2014

    Michael Jefferson

    Compass

    (310) 990-2773

    4 Total Sales

    Michael Jefferson
    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: RS13222644

California Regional Multiple Listing Service (CRMLS)

APN: 7162-009-029

California Los Angeles County Bellflower 90706

9241 Cedar St, Bellflower, CA

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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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