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Brownstone Apartments 9559 Flower St 17 Unit Apartment Building $3,850,000 ($226,471/Unit) 4.95% Cap Rate Bellflower, CA 90706
Investment Highlights
- First Time on Market in Over 30 Years
- Major CapEx Including New Roof, New Electrical Subpanels, New Dual-Pane Windows, New Asphalt
- All Electric Building w/ Ideal Unit Mix of One and Two-Bedroom Units & Permitted ADU
- Over 7.5% Cap on Market with over 25% Upside on Rental Income
Executive Summary
We are pleased to present the Brownstone Apartments, offered for sale for the first time in over 30 years and located in a strong Bellflower submarket. This well-maintained property features an ideal unit mix of one- and two-bedroom units, along with a permitted studio ADU. The all-electric property has undergone significant capital improvements, including a new roof, new electrical subpanels, new dual-pane windows, new asphalt, updated walkways and balconies, and completed SB 721 compliance. With a cap rate exceeding 7.5% on market rents and over 25% upside in rental income, the Brownstone Apartments offer investors the opportunity to acquire a clean, well-maintained asset with substantial rental upside.
Property Facts
| Price | $3,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $226,471 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 4.95% | Building Size | 11,869 SF |
| Gross Rent Multiplier | 12.28 | No. Stories | 2 |
| No. Units | 17 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 2.36/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | BFR3* | ||
| Price | $3,850,000 |
| Price Per Unit | $226,471 |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| Gross Rent Multiplier | 12.28 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 11,869 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 2.36/1,000 SF |
| Zoning | BFR3* |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,340 | 499 |
| 1+1 | 9 | $1,427 | 648 |
| 2+1 | 7 | $1,676 | 840 |
1 1
Walk Score®
Very Walkable (86)
Property Taxes
| Parcel Number | 7106-001-021 | Improvements Assessment | $424,140 |
| Land Assessment | $82,592 | Total Assessment | $506,732 |
Property Taxes
Parcel Number
7106-001-021
Land Assessment
$82,592
Improvements Assessment
$424,140
Total Assessment
$506,732
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Brownstone Apartments | 9559 Flower St
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