15746-15750 Ryon Ave, Bellflower, CA 90706
9 Unit Apartment Building | $1,980,000 ($220,000/Unit) | 5.58% Cap Rate | Bellflower, CA 90706
For Sale
Active
Asking Price $1,980,000
- Property Type
-
Multifamily
- Square Feet
- 4,644 SF
Listing Contacts
Jonathan Nikfarjam
Ken Conant
Property Overview
ASSET
9 single-story bungalow units on a large 20,058-SF lot in Bellflower. No local rent control – AB 1482 only.
The property contains a unit mix of (one) 3-bedroom/1-bathroom house and (eight) 1-bedroom/1-bathroom bungalow units. The front 3-bedroom house has been remodeled and features a 2-car garage and private backyard.
One of the units was recently fully remodeled with new kitchen cabinets, new quartz counters, new bathroom, new vinyl floors, new closet, new recessed lighting, new plumbing fixtures and new ceiling fan.
The expansive lot presents outstanding future development potential or the opportunity to build 2 ADUs (Accessory Dwelling Units).
Six of the seven structures have brand-new roofs. The property has updated plumbing and new water-efficient landscaping.
The property has been newly painted and contains tremendous curb appeal, ample outdoor space for tenants, an on-site laundry facility and a total of 14 parking spaces.
LOCATION
The property is located just north of Alondra Boulevard and just two blocks from Bellflower Boulevard. It is in close proximity to St. John Bosco High School, Bellflower City Hall, Bristol Civic Auditorium, Bellflower Library Garden, and the 91, 605 & 105 Freeways.
FINANCIALS
Offered at a 7.67% pro-forma cap rate and 9.26 pro-forma GRM, 15746 Ryon Avenue has rents which are +/- 26% below market. The property also contains strong-in place rents with a current cap rate of 5.58% and current GRM of 11.72.
9 single-story bungalow units on a large 20,058-SF lot in Bellflower. No local rent control – AB 1482 only.
The property contains a unit mix of (one) 3-bedroom/1-bathroom house and (eight) 1-bedroom/1-bathroom bungalow units. The front 3-bedroom house has been remodeled and features a 2-car garage and private backyard.
One of the units was recently fully remodeled with new kitchen cabinets, new quartz counters, new bathroom, new vinyl floors, new closet, new recessed lighting, new plumbing fixtures and new ceiling fan.
The expansive lot presents outstanding future development potential or the opportunity to build 2 ADUs (Accessory Dwelling Units).
Six of the seven structures have brand-new roofs. The property has updated plumbing and new water-efficient landscaping.
The property has been newly painted and contains tremendous curb appeal, ample outdoor space for tenants, an on-site laundry facility and a total of 14 parking spaces.
LOCATION
The property is located just north of Alondra Boulevard and just two blocks from Bellflower Boulevard. It is in close proximity to St. John Bosco High School, Bellflower City Hall, Bristol Civic Auditorium, Bellflower Library Garden, and the 91, 605 & 105 Freeways.
FINANCIALS
Offered at a 7.67% pro-forma cap rate and 9.26 pro-forma GRM, 15746 Ryon Avenue has rents which are +/- 26% below market. The property also contains strong-in place rents with a current cap rate of 5.58% and current GRM of 11.72.
Property Details
- Class
- C
- Year Built
- 1938
- Stories
- 1
- Lot Size (sq. ft)
- 20,038 SF
- Units
- 9
Highlights
- 9 Single-Story Bungalows on Large 20,058-SF Lot | Outstanding Future Development Potential or Opportunity to Build 2 ADUs
- Desirable Bellflower Location – Just North of Alondra Boulevard & 2 Blocks to Bellflower Boulevard | Remodeled Front 3-Bedroom House with 2-Car Garage
- 5.58% Current Cap Rate & 11.72 Current GRM | 7.67% Pro-Forma Cap Rate & 9.26 Pro-Forma GRM | No Local Rent Control – Defaults to AB 1482
- Six of the Seven Structures Contain Brand-New Roofs | Recently Painted Property with Curb Appeal | Updated Plumbing & New Water-Efficient Landscaping
- Fully Renovated 1-Bedroom Unit with New Kitchen, New Bathroom, New Vinyl Floors, New Closet, New Recessed Lighting, New Fixtures & New Ceiling Fan
- On-Site Laundry & 14 Parking Spaces | Close Proximity to St. John Bosco High School, Bellflower City Hall, Bristol Civic Auditorium & Freeways
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