9203 Park Street, Bellflower, CA 90706

About this property

9203 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%). Residing on an 19,535 SF lot, 9203 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 and a two-car garage with a side-by-side washer and dryer. Please note, there may be a possibility for a future owner to add an ADU or two (buyer to verify). The property presents approx. 37% rental upside compared to renovated townhomes in the area, and is offered at $329 per foot, which at the list price it stabilizes at a 5.79% CAP rate and 12.07 GRM. 9203 Park is offered in conjunction with another 7-unit townhouse-style complex that is three parcels away (9137 Park) and can be purchased individually or together.

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

Sale history

$2,503,000

Sold November 2023 · listed $2,680,000, on market September 2023 · MLS #23307875 · Source: CRMLS

Listing Agent: Kenny Stevens · Listing Office: Compass · Contact: 310-230-5478 · Bought with: Christopher Awad · Century 21 On Target

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