9203 Park Street

Bellflower, CA 90706

$2,503,000

Sold Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $328 / sqft

1987

calendar_month Built

Property Description

9203 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%). Residing on an 19,535 SF lot, 9203 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 and a two-car garage with a side-by-side washer and dryer. Please note, there may be a possibility for a future owner to add an ADU or two (buyer to verify). The property presents approx. 37% rental upside compared to renovated townhomes in the area, and is offered at $329 per foot, which at the list price it stabilizes at a 5.79% CAP rate and 12.07 GRM. 9203 Park is offered in conjunction with another 7-unit townhouse-style complex that is three parcels away (9137 Park) and can be purchased individually or together.

Listing Information

Close Price $2,503,000
Close Date Thursday, November 30th, 2023
Status Closed
MLS 23307875
Type Residential Income
Year Built 1987
Lot Size 19,535
Structure Size N/A
DOM 31
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 Central Air

Exterior Information

Maps

Listing information courtesy of: Kenny Stevens, Jon Granston, Compass . *Based on information from the Association of REALTORS/Multiple Listing as of Nov 30th, 2023 at 12:38 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.