6633 Pine AveBell, CA 90201

Property Details for 6633 Pine Ave

Year built

1990

Property size (Sq ft)

4,000 SF

Property type

Apartment buildings

Description

This exceptional 5-unit apartment building presents a compelling value-add opportunity in Bell, California. The property boasts 4,000 square feet of net rentable space, distributed across a two-story structure built in 1990. The building comprises four 2-bedroom/2-bathroom units and one 1-bedroom/1-bathroom unit, offering a diverse mix of living spaces. Ample parking is provided with five spaces, including four garages and a two-car tuck-under area. Situated on a 6,317 square-foot lot, the property enjoys a secluded location off Pine Avenue, minimizing street noise and traffic. Currently operating at 100% occupancy, the property generates a net operating income (NOI) of $29,325, with a pro-forma NOI projected at $88,950, reflecting significant upside potential. The asking price is $1,500,000, representing a price per square foot of $375 and a price per unit of $300,000. The property is zoned R3, ideal for multifamily use, and benefits from its proximity to a planned 11-unit for-sale development. This presents a unique opportunity to acquire a well-maintained property with substantial room for rent increases and improved profitability. The current cap rate is 1.96%, with a pro-forma cap rate of 5.93%, highlighting the significant potential for return on investment. This property is offered fee simple. The property's location and potential for future appreciation make it an attractive investment.

Location Insight

City

Bell

County

Los Angeles

State

California

Latitude

33.9757

Longitude

-118.19

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