15335 Woodruff Pl Bellflower, CA 90706-4025
- Apartment buildings
- 4,628 SF
- 0.22 lot acres
Sep 20, 2024
Current Use by Public Records
- Apartment buildings
Property Details for 15335 Woodruff Pl
- Year built
- 1971
- Construction
- WOOD
- Lot size
- 0.22 lot acres
- Property size
- 4,628 SF
- Zone code
- BFR3*
- Property type
- Apartment buildings
- APN
- 6274-035-019
- APU
- 6274035019
Description
This exceptional 5-unit multifamily investment property in Bellflower, CA, presents a compelling opportunity. The property, comprised of three buildings constructed in 1958 and 1971, offers a mix of single-story and two-story townhome units, each featuring two bedrooms. Four units are two-story townhomes, each with a private patio (two boast spacious wrap-around patios). Three units have undergone significant renovations. Each unit includes a water heater and two assigned parking spaces, totaling ten spaces across the property. Residents benefit from an on-site laundry facility, generating additional income. The property sits on a 0.22-acre lot, totaling 4,628 square feet of net rentable space. The asking price is $1,700,000, representing $340,000 per unit, with a current NOI of $88,737 and a pro-forma NOI of $115,940. This translates to a current cap rate of 5.22% and a pro-forma cap rate of 6.82%. Its prime location near Woodruff Avenue and Alondra Boulevard offers convenient access to schools (Woodruff Elementary, Bellflower Middle, and Bellflower High), major shopping centers (Promenade at Downey, Downey Landing, Los Cerritos Center, and Plaza 183), and freeways (I-605, SR-91, and I-605), making it highly attractive to tenants. The property is offered fee simple. Drive-by only
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,375,000
- ML approach
- $1,375,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,240,000
- 6.5%
- $1,145,000
- 7%
- $1,065,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,606,000
Market price range: $434k - $1.61M -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $1,105,000 Current use
- MEDICAL BUILDING
- $2,105,000 Change: +90% Conversion: Moderate
- OFFICE BUILDING
- $1,540,000 Change: +39% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $1,395,000 Change: +26% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $1,385,000 Change: +25% Conversion: Difficult
- WAREHOUSE, STORAGE
- $1,360,000 Change: +23% Conversion: Difficult
- RETAIL STORES
- $1,355,000 Change: +23% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Bellflower
- County
- Los Angeles
- State
- California
- Longitude
- -118.118
- Latitude
- 33.8941
- CBSA code
- 31080
- CBSA name
- LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA
