9840 Ramona St, Bellflower, CA 90706

Property Description

This value-add opportunity offers an investor the chance to acquire an asset with all two-bedroom units in a solid location near popular shopping destinations, freeways, and a college and capture 26 percent potential upside in rents. The property is a 1939 construction on a large 0.31-acre lot with five two-bedroom/one-bath single-family homes and ample carport and surface parking. The units offer spacious floorplans, laundry hookups, and separate gas and electric meters. 9840 Ramona Street is located near the intersection of Artesia Boulevard and Bellflower Boulevard, just south of the 91 Freeway and conveniently near the 605 Freeway. The property is just a six-minute drive from both the majorly popular Los Cerritos Center, a regional shopping destination, and Cerritos College. Downtown Bellflower is just a three-minute drive north on Bellflower Boulevard, and the city of Bellflower is incentivizing and planning for major development of the area in anticipation of the new $6.6 Billion Metro line that will run from Artesia to Downtown Los Angeles with a station at Bellflower Boulevard and Pacific Avenue. One of these developments is the recently opened SteelCraft Development, a food court and brewery concept built from repurposed shipping containers. A mixed-use development with 91 condos, retail space, and a boutique movie theater is also planned for the area.