Residential Income — 6607 Otis Avenue, Bell, CA
$3,700,000
6607 Otis Avenue, Bell, CA
About this property
Prime investment opportunity to acquire a 16-unit multifamily property in the City of Bell. This asset has strong in-place income with a current 5.7% CAP, and an estimated 20% rental upside provides a clear value-add pathway. The courtyard layout consists of (15) one-bedroom / one-bath apartments and (1) two-bedroom one-bath apartment, with a property manager on site. Notably, it is not subject to a separate City of Bell rent-stabilization ordinance adding further appeal. Current annual gross rental income is approximately $279,576, with future rent-growth potential to $337,800 based on renovated turnover units and market conditions. Water, gas, trash service, a laundry facility, and 20 uncovered parking spaces are currently included. Built in 1962 and on a 15,884 square foot lot with 8,676 square feet of improvements, this reflects cost of $231,250 per unit, within the City of Bell’s R-3 High-Density Multiple-Family Residential Zone. Centrally positioned within Southeast Los Angeles County near the 710, 5, 101, 105, and 60 freeways, this property benefits from excellent regional connectivity. It’s also conveniently located in close proximity to employment centers, schools, and shopping, enhancing its appeal as a valuable investment. Buyer to independently verify all income, expenses, unit count, square footage, permits, zoning, leases, rent restrictions, property condition, and all other information during due diligence. Please do not disturb tenants or management. Showings by appointment with listing agent only.
Property details
Location
6607 Otis Avenue • Bell, CA 90201
Listed by
Monica George · California Curb Appeal RPS