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$ 3,700,000
Est. payment /mo
New
6607 Otis AVE Bell, CA 90201
0.37 Acres Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26179712
HOA Y/N No
Year Built 1962
Lot Size 0.371 Acres
Property Sub-Type Apartment
Property Description
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 7.3% 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.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features Uncovered
Pool None
Community Features Suburban, Sidewalks
Total Parking Spaces 20
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 6325008001
Energy Description 3866.0
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
Special Listing Condition Standard
Listed by Monica George California Curb Appeal RPS Monica@Calcurbs.com, DRE #02082018