NOT LISTED FOR SALE

510 E 97th St Inglewood, CA 90301

15 Beds
15 Baths
19,373 Sq Ft
0.41 Acres

Last Sold November 05, 2021

Last sale price $4,825,000 $249 Per Sq Ft

12 Days on Market

Highlights

  • Gated Community
  • Laundry Room
  • 1-Story Property
  • No HOA

About This Home

As of November 2021

Welcome to the Home of the RAMS! Great opportunity to own this Building that was built in 1986 with potential upside on the rents. This Proeprty has 12-- two bedroom units and 5-- one bedroom units. Very few have low rents and this Proeprty has 2 additional units that will be delivered vacant. Tax records show 21 units but only has 17 + 2 additions and 30 parking spaces. With a rough 5% CAP and room to grow after adding some TLC to this great building! This property is just 1/2 miles from the SoFi stadium.

Last Agent to Sell the Property

Antonio Martinez

Keller Williams Pacific Estates License #01336584 Listed on: 08/18/2021

Keller Williams Pacific Estates

Last Buyer's Agent

Antonio Martinez

Keller Williams Pacific Estates License #01336584 Listed on: 08/18/2021

Keller Williams Pacific Estates

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1986

Lot Details

  • 0.41 Acre Lot
  • No Common Walls

Parking

  • 8 Car Garage
  • 22 Carport Spaces
  • Automatic Gate

Interior Spaces

  • 19,373 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 15 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Home Security

  • Window Bars
  • Security Lights

Listing and Financial Details

  • Tenant pays for cable TV, electricity, gas
  • Tax Lot 32
  • Tax Tract Number 550
  • Assessor Parcel Number 4024040005
  • $4,327 per year additional tax assessments

Community Details

Overview

  • No Home Owners Association
  • 17 Units

Building Details

  • 17 Leased Units
  • Rent Control
  • 18 Separate Electric Meters
  • 17 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $9,900
  • Gardener Expense $4,800
  • Maintenance Expense $6,084
  • Trash Expense $2,400
  • Water Sewer Expense $20,000
  • New Taxes Expense $48,864
  • Operating Expense $92,048
  • Gross Income $251,100
  • Net Operating Income $151,418

Security

  • Gated Community

Property Details

Home Type

Apartment

Year Built

Built in 1986

Lot Details

0

Parking

8

Listing Details

  • Assessments: Yes
  • CapRate: 3.30
  • Property Attached: No
  • Security: Automatic Gate, Gated Community, Security Lights, Window Bars
  • Water Sewer Expenses: 20000.00
  • Zoning: INR3YY
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 4800.00
  • Parcel Number: 4024040005
  • Year Built: 1986
  • Special Features: None

Interior Features

  • Stories: 1
  • Common Walls: No Common Walls
  • Levels: One
  • Price Per Square Foot: 249.06

Exterior Features

  • Pool Private: No
  • Spa: No

Garage/Parking

  • Carport Spaces: 22.00
  • Garage Spaces: 8.00
  • Total Parking Spaces: 30.00

Utilities

  • Laundry: Yes
  • Laundry Features: Dryer Included, Individual Room, Washer Included
  • Sewer: Public Sewer
  • Trash Expense: 2400.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Lot 10000-19999 Sqft
  • Lot Size Sq Ft: 17977.00
  • Lot Size Acres: 0.4127

Rental Info

  • Tenant Pays: Cable TV, Electricity, Gas

Multi Family

  • Electric Expense: 9900.00
  • Gross Income: 251100.00
  • Gross Multiplier: 18.30
  • Gross Operating Income: 249456.00
  • Gross Scheduled Income: 251100.00
  • Laundry Equipment Own Lease: Own
  • Laundry Income: 8400.00
  • Lot Size Area: 17977.0000 Square Feet
  • Maintenance Expense: 6084.00
  • Net Operating Income: 151418.00
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 17
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 17
  • Number Of Units Total: 17
  • Operating Expense: 98038.00
  • Rent Control: Yes
  • Total Actual Rent: 21923.00
  • Total Expenses: 92048.00
  • Vacancy Allowance Rate: 4.00

Tax Info

  • New Taxes Expense: 48864.00
  • Tax Census Tract: 6011.00
  • Tax Lot: 32
  • Tax Tract Number: 550
  • TaxOtherAnnualAssessmentAmount: 4327.00

Range of Values:

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Value Increase
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Percent Increase
--
Adjusted for Inflation
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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
11/05/2021 11/05/21 Sold $4,825,000 -1.5% $249 / Sq Ft
08/30/2021 08/30/21 Pending -- -- --
08/19/2021 08/19/21 Price Changed $4,900,000 -7.5% $253 / Sq Ft
08/18/2021 08/18/21 Price Changed $5,300,000 +15.3% $274 / Sq Ft
08/18/2021 08/18/21 For Sale $4,595,000 -- $237 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Antonio Martinez

    Seller's Agent in 2021

    Antonio Martinez

    Keller Williams Pacific Estates

    (310) 259-9106

    36 Total Sales

    Antonio Martinez
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: DW21181397

California Regional Multiple Listing Service (CRMLS)
California Los Angeles County Inglewood 90301

510 E 97th St, Inglewood, CA

Not Listed for Sale

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