NOT LISTED FOR SALE

1023 S Osage Ave Inglewood, CA 90301

29 Beds
25 Baths
16,011 Sq Ft
0.58 Acres

Last Sold February 25, 2021

Last sale price $5,865,000 $366 Per Sq Ft

65 Days on Market

Highlights

  • Resident Manager or Management On Site
  • Ceramic Tile Flooring
  • Ceiling Fan
  • Laundry Room
  • Attached Carport
  • Multi-Tank Gas Water Heater

About This Home

As of February 2021

The Osage Apartments come to the market for the first time in almost 30 years. Located in a quiet South Inglewood location this property is in great condition, well cared for and managed over the years. The building has an excellent unit mix and large lot with plenty of parking. The asking price includes the adjacent 4-unit building at 1025 S. Osage which is an approximately 4,208 sqft building on a separate 5,856 sqft lot. The financials represented include both buildings. The rents are almost 40% below market allowing a new owner to capture lots of upside in the years to come. There are 2 laundry room each with 2 washers and 2 dryers that are owned by the building, no lease in place. The singles are master metered for electricity and gas. SELLER PREFERS OFFERS WITH SELLER FINANCING AT 50% LTV.

Last Agent to Sell the Property

Christopher Marsocci

Goldcoast Commercial Group License #01095183 Listed on: 11/16/2020

Last Buyer's Agent

Miguel Padilla

Keller Williams Beach Cities License #01993341

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 0.58 Acre Lot
  • East Facing Home

Home Design

  • Cosmetic Repairs Needed
  • Asphalt Roof

Interior Spaces

  • 16,011 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Laundry Room

Flooring

  • Carpet
  • Linoleum
  • Laminate
  • Ceramic Tile

Bedrooms and Bathrooms

  • 29 Bedrooms
  • 25 Bathrooms

Home Security

  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 10 Open Parking Spaces
  • 35 Parking Spaces
  • Attached Carport
  • Automatic Gate
  • Assigned Parking

Utilities

  • Heating System Mounted To A Wall or Window
  • Multi-Tank Gas Water Heater
  • Multi-Tank Central Water Heater
  • Sewer in Street

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for gardener, electricity, gas, water
  • Assessor Parcel Number 4024-011-011

Community Details

Overview

  • 2 Buildings
  • 25 Units

Building Details

  • Rent Control
  • Vacancy Allowance $7,029

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Levels: Two
  • Street Number Display: Yes
  • ADA Compliant: No
  • Additional Assessor Parcel Numbers: Yes
  • Alley: No
  • Living Area: 16011
  • Lot Acreage: 0.5772
  • Probate: No
  • Property Condition: Repair Cosmetic
  • Stories: 2
  • Year Built: 1964
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Laminate, Linoleum, Ceramic Tile
  • Bedrooms: 29
  • Laundry: Room
  • Laundry Equipment: Own
  • Total Bathrooms: 25.00
  • Equipment: Ceiling Fan
  • Price Per S Q F T: 374.43

Exterior Features

  • Direction Faces: East
  • Other Structures: None
  • Construction: Frame and Stucco
  • Roof: Asphalt
  • View: No

Garage/Parking

  • Other Spaces: 10
  • Covered Parking: 25
  • Parking Garage: Assigned, Carport Attached
  • Total Parking: 35

Utilities

  • Water Heater: Central Water Heater, Multi-Tank, Gas
  • Heating: Wall Gas
  • Security: Automatic Gate, Carbon Monoxide Detector(s), Resident Manager, Smoke Detector
  • Sewer: In Street
  • Water Heaters: Yes

Lot Info

  • Additions Alterations: No
  • Assessed Improvement Percent: 59.92
  • Assessed Improvement Value: 1042689
  • Assessed Land Percent: 40.08
  • Assessed Land Value: 697476
  • Total Assessed Value: 1740165
  • Assessor Parcel Number: 4024-011-011
  • Lot Size Area: 25143

Rental Info

  • Total Actual Rent: 351433.00
  • Owner Pays: Gardener, Electricity, Gas, Water
  • Rent Control: Yes
  • Tenant Pays: Electricity, Gas

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110
  • Gross Rent Multiplier: 17.06
  • Number Of Units: 25
  • Rent Control: 100
  • Type Of Units: Apartment
  • Vacancy Allow: 7029
  • Vacancy Allow Percent: 2.00

Tax Info

  • Private Transfer Taxes: No

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/25/2021 02/25/21 Sold $5,865,000 -2.2% $366 / Sq Ft
01/20/2021 01/20/21 Pending -- -- --
01/11/2021 01/11/21 Price Changed $5,995,000 -10.7% $374 / Sq Ft
11/16/2020 11/16/20 For Sale $6,710,000 -- $419 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2021

    Christopher Marsocci

    Goldcoast Commercial Group

    (310) 822-3281

    6 Total Sales

    Christopher Marsocci
    Section Image

  • M

    Buyer's Agent in 2021

    Miguel Padilla

    Keller Williams Beach Cities

  • Nico Rosmarin

    Buyer Co-Listing Agent in 2021

    Nico Rosmarin

    Lyon Stahl Investment Real Estate, Inc.

    (310) 425-9838

    19 Total Sales

    Nico Rosmarin
    Section Image
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Map

Source: The MLS

MLS Number: 20-660588

The MLS
California Los Angeles County Inglewood 90301

1023 S Osage Ave, Inglewood, CA

Not Listed for Sale

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