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Key Details
Sold Price $2,300,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 8,628 sqft
Price per Sqft $266
MLS Listing ID 23307811
Sold Date 12/29/23
Bedrooms 15
HOA Y/N No
Year Built 1977
Lot Size 0.433 Acres
Property Description
9137 Park is a sprawling townhouse complex located 1 mile west of Downtown Bellflower that features seven value-add townhouse-style units not subject to local rent control. These townhomes fall under State of California rent control, which allows for an annual rent increase of 5% + CPI (currently 8.8%). The property presents approx. 27% rental upside compared to renovated townhomes in the area, and is offered at $296 per foot, which at the list price it stabilizes at a 6.07% CAP rate and 11.49 GRM. Residing on an 18,842 SF lot, 9137 Park features an attractive unit mix comprising of (1) 3-bdrm. & 2.5-bath single-family townhome and (6) 2-bdrm. townhouse-style units. Each unit features a back patio, a one-car garage with a side-by-side washer and dryer, and an uncovered parking space. Please note, there may be a possibility for a future owner to add an ADU or two (buyer to verify).
Location
State CA
County Los Angeles
Area Rg - Bellflower North Of 91 Frwy, S Of Alondra
Zoning BFR2PD*
Interior
Heating Wall Furnace
Cooling Wall/Window Unit(s)
Flooring Carpet
Fireplace No
Appliance Dishwasher, Disposal, Refrigerator, Dryer, Washer
Laundry In Garage
Exterior
Parking Features Door-Single, Garage, Uncovered
Garage Spaces 7.0
Garage Description 7.0
View Y/N No
View None
Total Parking Spaces 14
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7110005045
Special Listing Condition Standard
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Bought with Kenny Stevens • Compass