6905 Walker Ave, Bell, CA 90201

4-Plex in Bell with No Local Rent Control

Sold: $987,500

Property Highlights

4-Plex built in 1948
Represented buyer achieving a significant discount to original asking price
No local rent control with 8.9% allowable rent increases annually
3-bed / 2-bath main house with (3) 1+1 units in back
Long term, low paying tenants with average rent of $1,175/mo
Smooth 30-day escrow with 80% LTV loan
First time property has traded hands in over 55 years
85% upside on current rents
Buyer plans to renovate all units and build ADU in vacant attached garage

The Deal Story

The Glaser Group is pleased to announce the successful closing of 6905 Walker Ave in Bell, CA. We represented the buyer on this fantastic 4-plex investment opportunity in a non-rent controlled area of LA County. The building is 2,626 Square Feet in total and is comprised of a 3-bed / 2-bath main house with (3) 1+1 units in back. The property is fully occupied with long term, low paying tenants with average rent of only $1,175/mo. Currently, there's over 85% upside on the current rents! Each unit also comes with garage parking, and there's a shared backyard plus a community laundry room.

The property was originally listed for sale a couple of months ago, and it was the first time the building has been marketed in over 55 years. We were able to quickly tie up the property in contract and eventually closed after a smooth 30-day escrow with an 80% LTV DSCR loan. Given some deferred maintenance items that came up during inspections, we were able to close at a significant discount to the asking price. Our client plans to renovate all units and build ADU in vacant attached garage. Operating in a non-rent controlled part of the County with 8.9% annual rent increases will be an added benefit.

If you're interested in exploring a similar sale or purchase, please shoot us an email or call us at 310-230-5157. We'd be happy to help.