Turnkey Multifamily | 7 Units | Bell, CA
Fully Renovated and 100% Occupied. Immediate Cash Flow with Rent Upside in LA County
Marketing description
This fully renovated 7-unit multifamily property in the city of Bell presents a rare turnkey investment opportunity in a strong rental market. The property consists of three separate buildings totaling 4,801 square feet on a spacious 10,435 SF lot, with all units comprehensively remodeled in 2025 to a modern standard.
The unit mix includes one detached 2 bed/1 bath with a private yard, one 3 bed/2 bath, four 1 bed/1 bath units each, and 1bed/1bath ADU, providing a balanced blend of rental sizes to attract a wide tenant base. The property is currently 100% occupied, generating a 5.84% cap rate and a GRM of 11.66. With seven legal units spread across a low-maintenance layout, this is a perfect opportunity for investors seeking stable income, minimal deferred maintenance, and long-term upside.
Whether you're expanding your portfolio or entering the multifamily space, 6221 Corona Ave is a standout value proposition in todays market.
Investment highlights
- Fully Renovated in 2025 — All units comprehensively remodeled to modern standards, delivering true turnkey condition with minimal deferred maintenance and immediate cash flow from day one
- 100% Occupied at Acquisition — Property is fully leased, generating $16,365/month ($196,380 annually) in current gross scheduled income with a proven, stable tenant base
- Compelling Returns — Current 5.84% cap rate with significant upside to 6.96% at market rents, and a GRM of 11.66 (market GRM of 10.26), reflecting strong value-add potential as units turn
- Attractive Market Rent Upside — Current rents sit below market, with potential to grow monthly income from $16,365 to $18,600 — a $26,820 annual revenue increase simply by renewing leases at market rates
- Diverse Unit Mix — 1 detached 2BD/1BA with private yard + 1 3BD/2BA + 4 1BD/1BA units + 1 1BD/1BA ADU across three buildings, attracting a wide tenant profile and reducing single-tenant risk
- Solid Cash-on-Cash Return — With proposed 70% LTV financing at 6.50%, the property delivers $12,231 in before-tax cash flow at current rents, scaling to $37,710 at market rents — a 5.49% cash-on-cash return on the $687,000 equity investment
- Strong Total Return Profile — Including principal paydown, total before-tax return reaches $30,148 (4.39%) at current rents and $55,627 (8.10%) at market rents annually
- Tenant-Paid Utilities — Gas and electric are separately metered and paid by tenants, reducing landlord operating exposure and keeping expenses lean at just $52,745/year (~27% of SGI)
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