NOT LISTED FOR SALE

Bellflower, CA 90706

16 Beds
16 Baths
10,624 Sq Ft
0.41 Acres

Last Sold September 25, 2023

Last sale price $3,750,000 $353 Per Sq Ft

48 Days on Market

Highlights

  • 0.41 Acre Lot
  • Laundry Room
  • 3-minute walk to Simms Park

About This Home

As of September 2023

We are pleased to present this great investment opportunity situated in an excellent rental location of Bellflower. This beautiful 16 unit apartment building (built in 1956/1968) is a true turn-key income property that has spacious 1 Bedroom + 1 Bathroom units with opportunity to add-value. This building underwent cosmetic rehab in 2016 and is an easy to manage investment with a desirable low density layout on top of the great curbside appeal. There is substantial rental upside potential of +/- 46% with minimal landlord maintenance. There is plenty of on-site parking spaces, an on-site laundry and all units are separately metered for gas and electricity. Less than 100' from nearby Simms Park and a short commute to shopping and dining. There is no local rent control as this property is only subject to the statewide AB1482 which is currently 8.8% annually. Please call for more details.

Last Agent to Sell the Property

Shant Sherbetdjian

Remax Commercial and Investment Realty License #01713570 Listed on: 07/26/2023

Remax Commercial and Investment Realty

Co-Listed By

Juan Cardenas

Remax Commercial and Investment Realty License #01233927

Last Buyer's Agent

Peter Wollner

License #01381742

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 0.41

Interior Spaces

  • 10,624 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 16 Bathrooms

Parking

  • 20 Parking Spaces
  • 10 Covered Spaces
  • Covered Parking

Additional Features

  • 0.41 Acre Lot
  • Cooling System Mounted In Outer Wall Opening

Listing and Financial Details

  • Assessor Parcel Number 7106-003-014

Community Details

Overview

  • 2 Buildings
  • 16 Units

Building Details

  • Vacancy Allowance $6,706

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Living Area: 10624
  • Lot Acreage: 0.4137
  • Stories: 2
  • Year Built: 1956
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 16
  • Laundry: Room
  • Total Bathrooms: 16.00
  • Price Per S Q F T: 352.97

Exterior Features

  • Other Structures: None

Garage/Parking

  • Other Spaces: 10
  • Covered Parking: 10
  • Parking Garage: Covered Parking, Uncovered
  • Total Parking: 20

Utilities

  • Cooling: Wall Unit(s)

Lot Info

  • Assessed Improvement Percent: 35.00
  • Assessed Improvement Value: 1171293
  • Assessed Land Percent: 65
  • Assessed Land Value: 2175261
  • Total Assessed Value: 3346554
  • Assessor Parcel Number: 7106-003-014
  • Lot Size Area: 18021

Multi Family

  • Unit Type: 2106
  • Gross Rent Multiplier: 16.77
  • Number Of Units: 16
  • Type Of Units: Apartment
  • Vacancy Allow: 6706
  • Vacancy Allow Percent: 3.00

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/25/2023 09/25/23 Sold $3,750,000 0.0% $353 / Sq Ft
09/12/2023 09/12/23 Pending -- -- --
07/26/2023 07/26/23 For Sale $3,750,000 +85.6% $353 / Sq Ft
03/31/2014 03/31/14 Sold $2,020,000 +2.3% $190 / Sq Ft View Prior Sale
01/02/2014 01/02/14 Pending -- -- --
12/24/2013 12/24/13 For Sale $1,975,000 -- $186 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Shant Sherbetdjian

    Seller's Agent in 2023

    Shant Sherbetdjian

    RE/MAX

    (626) 657-8135

    1 in this area

    54 Total Sales

    Shant Sherbetdjian
    Section Image
  • Juan Cardenas

    Seller Co-Listing Agent in 2023

    Juan Cardenas

    RE/MAX

    (562) 587-5494

    7 in this area

    28 Total Sales

    Juan Cardenas
    Section Image
  • Peter Wollner

    Buyer's Agent in 2023

    Peter Wollner

    (310) 378-5036

    2 in this area

    25 Total Sales

    Peter Wollner
    Section Image
  • Scott Larsen

    Seller's Agent in 2014

    Scott Larsen

    First Choice Property Mgmt Co

    (562) 925-6668

    1 in this area

    3 Total Sales

    Scott Larsen
    Section Image
  • Chris Keramati

    Buyer's Agent in 2014

    Chris Keramati

    Triqor Group

    (949) 756-3232

    1 in this area

    21 Total Sales

    Chris Keramati
    Section Image
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Source: The MLS

MLS Number: 23-294679

The MLS
California Los Angeles County Bellflower

90706

Not Listed for Sale

MultiFamily

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