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The Park Apartments in Downtown Bellflower 9746 Park St 16 Unit Apartment Building $4,198,000 ($262,375/Unit) 6% Cap Rate Bellflower, CA 90706
Investment Highlights
- Downtown Bellflower
- Mix: (8) 2 Bed / 1 Bath & (8) 1 Bed / 1 Bath Unit
- New Roof, Vinyl Windows, Sub Panels and More
- 6% Actual Cap Rate in a non rent control submarket!
- 24 Total Parking Spaces (22 Open & 2 Covered Spaces)
- Over $500,000+ in Capital Improvements made
Executive Summary
6% Actual Cap Rate in a non rent control submarket! This property has benefited from over $500,000 in capital improvements, including all new electrical subpanels, a new roof, new dual-pane vinyl windows throughout, updated landscaping and irrigation, new exterior paint, and significant wood and stucco repairs. Eight of the 16 units have been renovated, with washer and dryer units included in select apartments. In addition, all required SB 721 work has been completed, including the installation of new balconies. The property currently operates at a 10.60 GIM on actual income while still offering meaningful upside through the renovation of the remaining classic units. Note: The Seller is also selling 12 upgraded units at 9900 Ramona St. in Bellflower. Please inquire within if interested please inquire within.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$395,948
|
$26.86
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$11,878
|
$0.81
|
| Effective Gross Income |
$384,070
|
$26.06
|
| Taxes |
-
|
-
|
| Operating Expenses |
$138,664
|
$9.41
|
| Total Expenses |
$138,664
|
$9.41
|
| Net Operating Income |
$245,406
|
$16.65
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $395,948 |
| Annual Per SF | $26.86 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $11,878 |
| Annual Per SF | $0.81 |
| Effective Gross Income | |
|---|---|
| Annual | $384,070 |
| Annual Per SF | $26.06 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $138,664 |
| Annual Per SF | $9.41 |
| Total Expenses | |
|---|---|
| Annual | $138,664 |
| Annual Per SF | $9.41 |
| Net Operating Income | |
|---|---|
| Annual | $245,406 |
| Annual Per SF | $16.65 |
Property Facts
| Price | $4,198,000 | Apartment Style | Low-Rise |
| Price Per Unit | $262,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 6% | Building Size | 14,740 SF |
| Sale Condition | Build to Suit | Average Occupancy | 94% |
| Gross Rent Multiplier | 10.6 | No. Stories | 2 |
| No. Units | 16 | Year Built/Renovated | 1967/2025 |
| Property Type | Multifamily | Parking Ratio | 1.63/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | BFR3* | ||
| Price | $4,198,000 |
| Price Per Unit | $262,375 |
| Sale Type | Investment |
| Cap Rate | 6% |
| Sale Condition | Build to Suit |
| Gross Rent Multiplier | 10.6 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 14,740 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1967/2025 |
| Parking Ratio | 1.63/1,000 SF |
| Zoning | BFR3* |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Patio
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 626 |
| 2+1 | 8 | - | 750 |
1 1
Moderately walkable
70/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 7110-024-020 | Total Assessment | $3,608,760 |
| Land Assessment | $2,486,760 | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $1,122,000 | Tax Year | 2025 |
Property Taxes
Parcel Number
7110-024-020
Land Assessment
$2,486,760
Improvements Assessment
$1,122,000
Total Assessment
$3,608,760
Annual Taxes
$0 ($0.00/SF)
Tax Year
2025
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