$1,750,000
$1,900,000
7.9%For more information regarding the value of a property, please contact us for a free consultation.
13 Beds
7 Baths
5,891 SqFt
SOLD DATE : 06/05/2024
Key Details
Sold Price $1,750,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,891 sqft
Price per Sqft $297
MLS Listing ID 24-374545
Sold Date 06/05/24
Style Contemporary
Bedrooms 13
Construction Status Updated/Remodeled
Year Built 1960
Lot Size 7,907 Sqft
Acres 0.1815
Property Description
INVEST IN INGLEWOOD'S RENAISSANCE! We are pleased to present this 6-unit apartment building near the KIA Forum, SoFi Stadium, YouTube Theater, Hollywood Park, and the soon-to-be-completed Intuit Dome. Located in Inglewood's Art District, this property presents an excellent investment opportunity for new and experienced real estate investors and exchange buyers alike. Its convenient location in the heart of Inglewood's growth puts it in high demand, offering the potential for steadily increasing rental income and future appreciation. The building features a mix of one 3+2 unit and five 2+1 units, maximizing rental income. The property is well-maintained, with nearly 50% of the units being partially or fully renovated, and attracts a diverse tenant base and caters to a wide range of tenant preferences. Well-qualified buyers can take advantage of favorable financing terms with an assumable loan (approximate balance of $1.115M, fixed at 4.01% until January 2027), subject to lender fees and approval. Unit #4 is currently vacant, with a conservatively projected rent of $2,100 per month included in the provided rent roll. This represents an immediate opportunity to increase the property's cash flow upon acquisition. Annual parking income is $4,500 for 6+ spaces. Don't miss out on this exceptional investment opportunity in Inglewood's thriving market.
Location
State CA
County Los Angeles
Area North Inglewood
Zoning INR3YY
Rooms
Other Rooms None
Interior
Heating Wall
Cooling None
Equipment Ceiling Fan, Refrigerator, Range/Oven, Hood Fan
Exterior
Garage Carport Detached, Driveway, Uncovered, Assigned
Garage Spaces 6.0
Pool None
View Y/N No
View None
Building
Story 2
Architectural Style Contemporary
Level or Stories Two
Construction Status Updated/Remodeled
Others
Special Listing Condition Standard
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The multiple listings information is provided by The MLSTM/CLAW from a copyrighted compilation of listings. The compilation of listings and each individual listing are ©2024 The MLSTM/CLAW. All Rights Reserved.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Keller Williams Realty-Studio City
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