9816 Park StBellflower, CA 90706

Property Details for 9816 Park St

Year built

1972

Construction

WOOD

Lot size

0.23 AC

Property size (Sq ft)

6,466 SF

Zone code

BFR3*

Property type

Apartment buildings

APN

7109-026-018

APU

7109026018

Description

This 9-unit apartment building presents a compelling value-add opportunity in Bellflower, CA. Located on Park Street in the heart of downtown, this two-story, 1972-built property offers a mix of 4 two-bedroom and 5 one-bedroom units, totaling 6,466 square feet on a 10,083 square foot lot. The property boasts 100% occupancy with a current NOI of $123,482 and a 5.20% cap rate, projecting to $143,048 and a 6.02% pro-forma cap rate. The asking price is $2,375,550 ($263,950 per unit and $367.39 per square foot). Ample parking is provided with 14 spaces. Significant upgrades have been made over time, including a full copper re-pipe in 2011 with a 50-year warranty. The property benefits from its convenient location near freeways 91 and 605, offering easy access to major transportation routes and the amenities of downtown Bellflower, including restaurants and shopping. Current rents are below market average, presenting a significant opportunity to increase income and property value. This property is an excellent investment for those seeking strong returns in a growing Los Angeles County market. The building includes a landlord-owned community washer and dryer. The property's location in Bellflower offers access to the Bellflower Connect program, providing free outdoor wireless broadband.

• CAP approach

  CAP return

  Valuation

  6%

  $2,200,650

  6.5%

  $2,031,370

  7%

  $1,886,280

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,413,150

  Geo Method

  $2,413,150

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,220,470

  Retail / Commercial

  $1,663,380

  Mixed-Use / Specialty

  $1,666,850

  Hospitality / Lodging

  $1,235,160

  Office

  $1,666,750

  Institutional / Educational

  $1,736,220

  Multifamily

  $2,384,180

  Automotive / Energy

  $1,488,190

  Parking / Income-Based Land

  $504,262

  Restaurant / Food Service

  $887,016

  Healthcare / Senior Housing

  $1,699,680

Location Insight

City

Bellflower

County

Los Angeles

State

California

Latitude

33.8782

Longitude

-118.125

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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