6705 Heliotrope Ave, Bell, CA 90201

8 Units in Bell with No Local Rent Control

Sold: $1,930,000

Property Highlights

8 Unit property Built in 1963
Strong mix of (2) 1+1, (5) 2+1 and (1) 3+2.5
Large units average 920 SqFt each
Huge front three-bed / two-and-a-half bath unit spans two stories and features private patio; will be delivered vacant
Laundry room with two sets washer/dryers provides additional income
2nd floor exterior decking fully resurfaced in 2023
Quaint & quiet street in Bell
Fully occupied with significantly under market rents; approx 57% upside!
12 covered parking spaces
Zoned BLR3YY

The Deal Story

The Glaser Group is pleased to announce the successful closing of 6705 Heliotrope Ave, a fantastic 8-unit investment property located in a desirable pocket of Bell, CA. This was the first time the property’s had been on the market in approximately 47 years!

The mid-century apartment complex, built in 1963, offers a total of 7,360 square feet of living space, with each unit boasting 920 square feet on average. The building features a strong unit mix, including (2) spacious 1-bedroom/1-bath units, (5) large two-bed / 1-bath units and (1) large 3-bedroom/2.5-bath townhouse unit in the front. The vacant townhouse unit has access to a private outdoor patio on the 2nd level. Additionally, the property provides convenient parking options with 12 covered parking spaces in the back of the lot.

6705 Heliotrope was delivered with a huge, vacant 3-bedroom unit, and the property offers a huge opportunity for long-term rent growth with approximately 57% upside on the current rents. Notably, the City of Bell has no local rent control ordinance, allowing for 8.8% increases per State rent control laws (AB 1482). The property also provides additional income from the on-site laundry facilities, featuring two sets of

washers/dryers.

As part of a broader portfolio sale, we will be assisting our client in leveraging this newly freed-up equity to execute a multi-asset 1031 exchange. If you are considering a 1031 exchange of your own or would like to better understand your options, please reach out to my team.