Gated 16-Unit Apartment
For Sale
$3,895,000
Pending
9116 Palm Street, Bellflower, CA 90706
Well maintained 16-unit gated complex with a shared laundry room and on-site storage/office area.
Property Size12,704 SF
Days on Market172
Property Features for 9116 Palm Street
General Information
Standard status
Pending
Size
12,704 SF
Total Parking Spaces
25
Property subtype
Apartment
Additional Details
Highway Access
Yes
Multifamily Units
16
Building Details
Building Size
12,704 SF
Year Built
1963
Tenancy
Multi
Listing Agency:
Keller Williams OC Luxury Realty
Listed By:
Kevin Liang · License #01980916
Source:
Archetyperealty
Added: Mar 20
Changed: Aug 25
Last Checked: Aug 24 at 3:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams OC Luxury Realty
Investment Insights
Based on property information with market context.
This well maintained 16-unit apartment building offers a mix of unit layouts. Eight units are two bedroom with 1.5 bath and approximately 875 square feet, and eight units are one bedroom with 1 bath and approximately 620 square feet. Outdoor space is available across multiple units, with patios, balcony/decks, and backyards represented. The property includes a laundry room with five washers and four dryers (two stacked dryer units) that are owned, along with a large storage/office area of approximately 500 square feet with a bathroom.
The complex is gated with remote/code access car entry and includes 25 parking spaces. Improvements noted include a newer iron fence, a newer concrete parking lot, and a newer water heater.
Across the street, Palm Street Park provides an active outdoor setting with playgrounds and picnic tables. The property also lists convenient access to the 91, 605, and 710 freeways, as well as nearby restaurants, banks, schools, shopping centers, and parks.
The complex is gated with remote/code access car entry and includes 25 parking spaces. Improvements noted include a newer iron fence, a newer concrete parking lot, and a newer water heater.
Across the street, Palm Street Park provides an active outdoor setting with playgrounds and picnic tables. The property also lists convenient access to the 91, 605, and 710 freeways, as well as nearby restaurants, banks, schools, shopping centers, and parks.
Key Highlights
- 16‑unit apartment complex in Bellflower with gated remote/code access and secure car entry
- Unit mix: 8 two‑bedroom, 1.5‑bath units (approx. 875 SF) and 8 one‑bedroom, 1‑bath units (approx. 620 SF)
- Shared laundry room includes 5 washers and 4 dryers (2 stacked units), with equipment owned
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$204,418
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.25%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,088,360
$4.1M
Cap Rate 7%
$2,920,257
$2.9M
Cap Rate 9%
$2,271,311
$2.3M
Market Conditions
NOI Build-Up for 12,704 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$404.0K $31.80/SF
− Vacancy
−$32.3K −$2.54/SF
EGI
$371.7K $29.26/SF
− OpEx
−$167.3K −$13.17/SF
NOI
$204.4K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,088,360
Cap Rate 7%
$2,920,257
Cap Rate 9%
$2,271,311
Alternative Uses
Best Use
Apartment 5plus
$2.92M
$2.56M – $3.41M
NOI $204,418 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.80M
$5.95M – $7.94M
NOI $476,117 @ 7.0% cap · market cap 12.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,058
Businesses Nearby
Explore this area
Business Placement
Demographics for 90706, CA
79,179
Population
24,499
Households
3.2
Avg Household Size
36
Median Age
20%
College-Educated
78%
High-School Grad
6.1 sq mi
ZIP Area
12,980
Density / Sq Mi
$77,602
Median Household Income
$38,452
Median Earnings
$1,771
Median Rent
$661,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well maintained 16-unit gated complex with a shared laundry room and on-site storage/office area.
Where is this apartment building located?
The property is located at 9116 Palm Street Bellflower, CA.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: 16‑unit apartment complex in Bellflower with gated remote/code access and secure car entry; Unit mix: 8 two‑bedroom, 1.5‑bath units (approx. 875 SF) and 8 one‑bedroom, 1‑bath units (approx. 620 SF); Shared laundry room includes 5 washers and 4 dryers (2 stacked units), with equipment owned
