17516 Grand Avenue, Bellflower, CA 90706

About this property

RARE opportunity to purchase one of Bellflower's beloved apartment complexes and start generating your very own passive income! 16 units with 17 private garages spanning over 2 buildings on a corner lot, one building is 2 stories with 16 units with 4 1-car garages on the first story below 2 of the units and the other 1-story building has 13 1-car garages. Each unit has their own 1-car garage, the 17th garage is used for storing maintenance products and material. There are 5 additional parking space and there is a common laundry area that also generates income. There are 3 studios, 4 1 bed/1 bath units, and 9 2 bed/2 bath units. 13 units are currently leased and the other 3 units (2 2 bed/2 bath and 1 studio) are vacant offering a fantastic opportunity for the new owner to make it their own! The owner pays the water, gas, and maintenance while the tenants pay their own electricity. Not only are these apartments highlight sought after because of their ideal location but there are also 26% upside in monthly renal income at market rent. Centrally located to the 91 and 605 freeways, Valley Christian Schools, Mayfair Middle/High School, Cerritos Mall, and many other sources of entertainment! Nearby parks include Caruthers Park, Flora Vista Park, and Reservoir Hill Park. This property has so much to offer already and has room for improvement to generate even more income is don't wait because this property will not last!

Listing description from the March 2023 sale, as reported to CRMLS.

Sale history

$3,875,000

Sold March 2023 · listed $3,850,000, on market February 2023 · MLS #PW23028299 · Source: CRMLS

Listing Agent: Frank Bertao · Listing Office: Trans United R.E. & Loans · Contact: 714-477-1812 · Bought with: Brett Bayless · Brett Bayless, Broker

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