Sold: Apr 16, 2021
Address
7751 Scout Avenue Bell Gardens, CA
Price
$ 1,380,000
Property Attributes
  • MLS#SB21008900
  • TypeIncome
  • CountyLOS ANGELES
  • CityBell Gardens
  • Zip90201
  • Style
  • Price$ 1,380,000
  • Bedrooms5
  • Full Bathrooms5
  • Half Bathrooms0
  • Lot Size9,615 SqFt
Listing Provided Courtesy Of:
William Mulkey with TR Wealth Management Inc..
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

The three detached 2/1 homes & 1/1 duplex offers amenities such as washer & dryer hookups & greenspace. Three of the units have been outstanding remodels new windows kitchen cabinets etc. The property offers cash flow at asking price on actual numbers & has upside too! Sellers have issued 30-day rent increases to tenants effective 4/24/2021. Achieve over a 5% cap rate w/Market rents. Owners are 1031 exchanging and want a solid buyer who can demonstrate they can close and show proof of funds and pre-qualification letter with schedule of real estate they own. Property has open parking in front and rear. Approx. 8 spaces. New upgraded electrical panel with permits for $30,000. There is space for an ADU too, buyer to confirm. Location Overview: Bell Gardens is in zip code 90201 and is east of the 710 & Firestone exit near Downey. There is a large park nearby on Ira Ave. and many businesses in the area. Property Highlights: > Property is over 4.5% cap rate 13.2 GRM > Market Rents projection for 5.5% cap rate & only 12.25 GRM > 5 units 3 2/1 homes detached with privacy & greenspace 2 1/1 duplex > Remodeled with washer & dryer hookups, 3 units with new kitchen cabinets, quartz counters, faux wood blinds, new paint, & recessed lighting etc. > Cash flows well with rents still below market > 8 Parking & space for ADU (check with city). > Easy to finance operating history > Professionally Management will stay with new owners purchase > All Tenants Paying the Rent

Price History
1/19/2021 Listed $1,450,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90201

Price
AVG $1.13M
$1.38M

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