Description
One of the only opportunities to develop 5 units in the up and coming city of Bell, this property is currently in the process for approval of the development of 5 units. 3 units will be 3 bedrooms 2 bathrooms (total of 2581 sq.ft) and 2 units will be 2 bedrooms 2 bathrooms (3906 sq.ft). The current house standing is a 2 bedroom one bath on a huge 12,109 sq.ft lot (Zoning BLR3). This property is ripe for picking, near by new development have sold in the range of 500k-600k per unit and at CAP rate around 4%. Current market rents are ranging from $2,200-$2,600 for newly developed 2 bedroom units, and $3,000-$3,400 for newly developed 3 bedrooms units. Project plan check is 75% completed.
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2BEDS
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0.28ACRES
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1BATHS
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01/2 BATHS
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879SQFT
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$1,132$/SQFT
Description
One of the only opportunities to develop 5 units in the up and coming city of Bell, this property is currently in the process for approval of the development of 5 units. 3 units will be 3 bedrooms 2 bathrooms (total of 2581 sq.ft) and 2 units will be 2 bedrooms 2 bathrooms (3906 sq.ft). The current house standing is a 2 bedroom one bath on a huge 12,109 sq.ft lot (Zoning BLR3). This property is ripe for picking, near by new development have sold in the range of 500k-600k per unit and at CAP rate around 4%. Current market rents are ranging from $2,200-$2,600 for newly developed 2 bedroom units, and $3,000-$3,400 for newly developed 3 bedrooms units. Project plan check is 75% completed.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-03-24T17:33:57.613. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Levi Knapp Real Estate | Keller Williams Luxury Homes. Licensed in the State of California, USA.