9137 Park Street

Bellflower, CA 90706

$2,300,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $295 / sqft

1977

calendar_month Built

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).

Listing Information

Close Price $2,300,000
Close Date Friday, December 29th, 2023
Status Closed
MLS 23307811
Type Residential Income
Year Built 1977
Lot Size 18,842
Structure Size N/A
DOM 93
Courtesy Of Compass
Listing Agent Kenny Stevens DRE#01090251
Co-Listing Agent Jon Granston DRE#01876007

Interior Features

Total Bedroom
Bedrooms N/A
Total Bathroom
Bathrooms N/A
Flooring Information
Material Carpet
Cooling Type
Cooling Type Wall/Window Unit(s)

Exterior Information

Maps

Listing information courtesy of: Kenny Stevens, Jon Granston, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Dec 29th, 2023 at 1:25 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.