6633-1/4 Pine Ave Bell, CA 90201

Property Details for 6633-1/4 Pine Ave

Year built

1990

Property size

4,000 SF

Property type

Apartment buildings

Description

This exceptional 5-unit apartment building presents a compelling value-add opportunity in Bell, California. The property boasts 4,000 square feet of net rentable space, distributed across a two-story structure built in 1990. The building comprises four 2-bedroom/2-bathroom units and one 1-bedroom/1-bathroom unit, offering a diverse mix of living spaces. Ample parking is provided with five spaces, including four garages and a two-car tuck-under area. Situated on a 6,317 square-foot lot, the property enjoys a secluded location off Pine Avenue, minimizing street noise and traffic. Currently operating at 100% occupancy, the property generates a net operating income (NOI) of $29,325, with a pro-forma NOI projected at $88,950, reflecting significant upside potential. The asking price is $1,500,000, representing a price per square foot of $375 and a price per unit of $300,000. The property is zoned R3, ideal for multifamily use, and benefits from its proximity to a planned 11-unit for-sale development. This presents a unique opportunity to acquire a well-maintained property with substantial room for rent increases and improved profitability. The current cap rate is 1.96%, with a pro-forma cap rate of 5.93%, highlighting the significant potential for return on investment. This property is offered fee simple. The property's location and potential for future appreciation make it an attractive investment.