9316 Palm St, Bellflower, CA 90706

Property Description

The property was built in 2004 as a condominium development but is currently operated as apartments; each unit has its own parcel number.
 
 The offering comprises six two-story buildings that contain a total of 16 two-bedroom/two-bath units. The units range from 910 to 1,190 square feet, and all units have a two-car garage with storage racks, central HVAC, private patios, in-unit washers and dryers and high quality interior finishes. Because the property was constructed as a condominium development, each unit is individually metered for water, gas and electricity.
 
 All units are attractive townhouse-style and compete directly with local single-family rental homes. 13 of the units (81 percent) have been substantially upgraded in the past 18 months with high-end finishes, including new flooring, baseboards, granite countertops, lighting, ceiling fans, paint, new fixtures throughout and full bathroom renovations. This property features the highest quality units and finishes in the local market.
 
 9316 Palm Street produces above average cash flow and offers a new investor the opportunity to exit via condominium sales. As a turnkey asset that demands above average rents in a dense rental market, 9316 Palm Street would be an excellent addition to any investor’s portfolio.