Multifamily Property At 15741 Blaine Avenue Sold For $5.6 Million In Bellflower

A 32-unit multifamily property at 15741 Blaine Avenue in Bellflower, California, has been sold for $5.6 million, amounting to $175,000 per unit. The asset spans 16,128 square feet with a price per square foot of $347, set on a 0.71-acre lot. The property, built in 1955, contains a combination of one-bedroom and two-bedroom units and is situated in a desirable neighborhood with convenient access to local amenities and major freeways.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $5,600,000
• Units: 32
• Price Per Unit: $175,000
• Square Feet: 16,128
• Price Per Square Foot: $347
• Cap Rate: 6.51%
• Address: 15741 Blaine Avenue
• Market: Bellflower
• Broker Representatives: Andrew Boukather - MBI Equity Partners; Daniel Blackwell - CBRE

CBRE was responsible for the sale of the property, highlighting their role in facilitating the transaction. The deal reflects the active multifamily market in the area, underscoring interest from investors in properties with potential for future development.