REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,700,000
Est. payment /mo
New
6607 Otis Avenue Bell, CA 90201
3 Beds
2 Baths
0.37 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID OC26179712
Bedrooms 3
Lot Size 0.371 Acres
Property Sub-Type Res Income 2-4 Units
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 Bells 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. Its 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
Zoning Assessor
Direction West on Florence off 710, turn right on Otis
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6325008001
Acceptable Financing Cash
Listing Terms Cash
Listed by Monica George, DRE#02082018 California Curb Appeal RPS
NEARBY SCHOOL & BUSINESS