Sold

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$2,300,000

9137 Park Street

Bellflower, CA 90706

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
96 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).

Features

15 Beds

11 Baths

8,628 Sq.Ft. Living Area

Share property

Features & Amenities

Interior

Total Bedrooms 15
Total Bathrooms 11
Living Space 8,628 Sq.Ft.

Area & Lot

Status Sold
Neighborhood Bellflower
MLS® ID 23307811

Financial

Sales Price $2,300,000
Jon

Jon Granston

Mary

Mary Myers

San Diego's Premier Luxury Real Estate Team

Jon Granston and Advisory San Diego specialize in luxury homes across Del Mar, Rancho Santa Fe, La Jolla, Solana Beach, Encinitas, Cardiff, and Carlsbad. Trusted by buyers, sellers, professional athletes and entertainers since 2003.

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