Exclusive Listings

Prime Area of Downey

Address:
11944 Bellflower Blvd
Downey, CA 90242
Price:
$1,749,000
Status:
Available
Type:
Apartment
# Units:
6
Year Built:
1955
Building Size:
5032
Lot Size:
6,886
CAP Rate:
3.87%
GRM:
17.23x
Price/Unit:
$291,500
Price/SqFt:
$348

The Growth Investment Group is proud to offer 11944
Bellflower Boulevard, a spectacular apartment building
comprised of six (6) 2 Bedroom + 1 Bathroom units, and
individual one (1) car garages located in the highly desirable
city of Downey, California. This non-rent-controlled value-add
opportunity is perfect for an investor looking to acquire an
apartment property and maximize its income potential. The
property has been under the same ownership since 2008.
The units are currently leased to many long-time tenants on
a month-to-month agreement at below market rents. With
no rent control Buyers can quickly add value and increase
the income by modernizing the units. With only minutes
away from Kaiser Permanente, it is within walking distance to
Downey Landing, Stonewood Mall, and the New Promenade
at Downey.

The entire property features large open layout units,
with hardwood floors and tile throughout. None of the units
have been extensively upgraded which provides prime
opportunity for new ownership to complete unit upgrades
and maximize the income potential. Most of the tenants
are on month-to-month agreements at below market rents,
perfect for a sophisticated investor to increase the value.

All six (6) units are 2 bedrooms + 1 bathroom with
a private individual one (1) car garage. The fence gives
added security to the property. Each unit possesses its own
one-car garage that contain shelving inside and security
lighting outside. Well maintained units equipped with large
kitchen, large living area and large bedrooms. Newer paint
throughout and tile throughout all the units provide easy
maintenance. For added convenience a laundry area is
accessible to tenants, with new coin-operated machines
owned by the seller which provide additional income. The
garbage bins are enclosed behind secured fencing, for
added security.



• +/- 33% Rental Upside in Non-Rent Controlled Area


• Attractive six (6) units consisting of 2 Bedrooms + 1 Bathroom


• Individual one (1) car garages for each unit


• Superb location being walking distance from Downey Landing,
New Promenade at Downey, and Stonewood Mall which
include: LA Fitness, 24 Hour Fitness Super Sport, Macy’s, Kohl’s,
Starbucks, Benihana, Chipotle, Kirkland’s, GNC, Five Guys,
Chase, Bed Bath and Beyond, PetSmart, Cinemark Movie
Theater and more.


• Near Downey High School, Kaiser Permanente and (PIH)
Presbyterian Intercommunity Hospitals.


• Nearby to Downey Adult School and Los Angeles County
Office of Education along with other county buildings and
abundant education and employment opportunities


• Excellent student housing opportunities with Cerritos College,
one of the five largest community colleges in Los Angeles
County with an average

• Large open floor plan with tile and hardwood floors


• Individual garage for each unit


• Laundry area with new coin-operated machines owned by seller


• Easy access to FWY 605, 105, 710, and 5

Marketing Files


Due Diligence


Broker Contact

Matthew Guerra
Direct: 626.898.9740
mguerra@growthinvestmentgroup.com


Office:
999 S. San Gabriel Blvd.
San Gabriel, CA 91776
Phone: 626.594.4901
Fax: 626.316.7552
Email: properties@GrowthInvestmentGroup.com
Copyright © 2017 GIG Real Estate, Inc. dba. Growth Investment Group
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