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Cottage Style Fourplex on Large Lot 9720 Cedar St

4 Unit Apartment Building $1,400,000 ($350,000/Unit) 6.89% Cap Rate Bellflower, CA 90706

Investment Highlights

  • Unique Cottage Style Fourplex in Bellflower - This opportunity consists of all single level cottage style units on an oversized lot.
  • ADU Play - With 4 single car garages built in 2019, a new investor can take advantage of the newer structure and build an ADU (buyer to verify).
  • No Local Rent Control – Only Subject to AB-1482 - The property is subject to AB-1482 State Rent Control, making it easier to raise rents in the future
  • Two Units Vacant - The larger cottage and back cottage will be delivered vacant at close of escrow making this the perfect owner-user opportunity.
  • Washer Dryer Hookups and Ample Parking - Each unit has a washer/dryer hookup and there is ample parking on-site.

Executive Summary

We are proud to present this unique 4-unit apartment opportunity in the city of Bellflower! The offering features a total of 4 single level cottage style units consisting of 4,532 total building square feet on a massive 18,996 square foot lot. The unit mix comprises of one 2-bedroom/1.5-bathroom plus den and three 2-bedroom/1-bathroom units. There is immediate upside or owner-user potential with the larger front house and back cottage being delivered vacant at close of escrow. All units include washer/dryer hookups and spacious floorplans! Along the property there is ample parking on-site. There are 7 single car garages (4 built in 2019) along with multiple open spaces and carports. The garages built in 2019 are an easy ADU play as it is a newer structure with electrical already in place (buyer to verify). Most utilities are individually metered on the property including gas and electricity keeping utility costs relatively low. Bellflower does not have local rent control, making this property subject to AB-1482 allowing healthy rent increases for the future owner. Located in a residential area, the property benefits from a quiet environment while being close to essential services and retail. The proximity to major thoroughfares allows for easy commuting to nearby cities, with public transport options available. Do not miss your opportunity to acquire this rare asset in the city of Bellflower!

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income $132,612 $29.26
Other Income - -
Vacancy Loss $3,978 $0.88
Effective Gross Income $128,634 $28.38
Taxes - -
Operating Expenses - -
Total Expenses $32,208 $7.11
Net Operating Income $96,426 $21.28

Financial Summary (Actual - 2024)

Gross Rental Income
Annual $132,612
Annual Per SF $29.26
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual $3,978
Annual Per SF $0.88
Effective Gross Income
Annual $128,634
Annual Per SF $28.38
Taxes
Annual -
Annual Per SF -
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $32,208
Annual Per SF $7.11
Net Operating Income
Annual $96,426
Annual Per SF $21.28

Property Facts

Price $1,400,000
Price Per Unit $350,000
Sale Type Investment
Cap Rate 6.89%
Gross Rent Multiplier 10.56
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Single Family Home
Building Class C
Lot Size 0.44 AC
Building Size 4,532 SF
Average Occupancy 50%
No. Stories 1
Year Built 1923
Parking Ratio 4.19/1,000 SF

Unit Amenities

  • Washer/Dryer Hookup

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 3 $2,648 -
2+1.5 1 $3,250 -
Walk Score ®
Very Walkable (75)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
7161-018-006
Land Assessment
$923,875
Improvements Assessment
$610,714
Total Assessment
$1,534,589

zoning

Zoning Code BFR2
BFR2
  • Listing ID: 33362579

  • Date on Market: 10/1/2024

  • Last Updated:

  • Address: 9720 Cedar St, Bellflower, CA 90706

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