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Bryan Garrity

bryan.garrity@engelvoelkers.com +1(858) 525-3202

$ 3,700,000

Est. payment -/mo

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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 5.7% 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

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Monica George California Curb Appeal RPS Monica@Calcurbs.com, DRE #02082018

NEARBY SCHOOLS & PROPERTIES

Bryan Garrity

Advisor | License ID: 01501862

+1(858) 525-3202

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