M
Seller's Agent in 2023
Matthew Sillaman
LB Property Management Inc
711 Walnut St Inglewood, CA 90301
Inglewood Area
6
Beds
5
Baths
7,793
Sq Ft
9,636
Sq Ft Lot
Highlights
- Private Pool
- 12 Car Garage
- Level Lot
- No HOA
- Laundry Facilities
About This Home
As of December 2023711 Walnut Street presents a unique opportunity to acquire a 7-unit multi-family property in Inglewood, CA, strategically positioned at the nexus of the beach cities, LAX, and downtown Los Angeles. Tenants will enjoy immediate access to renowned retail centers and entertainment hubs such as SoFi Stadium, Hollywood Park, KIA Forum, and the upcoming Intuit Dome. The pocket location is nestled in a charming neighborhood on a tree-lined street blending garden apartments with residential housing. Embracing a vintage mid-century modern style architecture characterized by bold lines and overhanging eaves reminiscent of the aesthetics found in Palm Springs. This property boasts a diverse unit mix comprised of: - ONE (1) 3-bedroom | 2-bathroom unit; TWO (2) 2-bedroom | 2-bathroom units; and FOUR (4) 1-bedroom | 1-bathroom units. Rental Units are large (blended avg. over 1,000 SF each) and provide ample natural lighting. The property features semi-subterranean and garaged parking, on-site laundry, pool, and separate gas and electric metering for each unit. The potential for significant value enhancement is substantial, with current rents reflecting potential upside of over 50%. There is also an opportunity for a savvy investor to assume the existing CHASE loan, offering advantageous terms with +/-6 years remaining at a fixed rate of 4.49%. The terms require a 1% assumption fee and a $2,000 processing fee. This property presents an excellent investment prospect for those seeking immediate cash flow and long-term growth potential!
Last Agent to Sell the Property
Matthew Sillaman
LB Property Management Inc License #01925847 Listed on: 11/12/2023
Last Buyer's Agent
Matthew Sillaman
LB Property Management Inc License #01925847 Listed on: 11/12/2023
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Property Details
Home Type
- Multi-Family
Year Built
- Built in 1964
Lot Details
- 9,636 Sq Ft Lot
- No Common Walls
- Level Lot
Parking
- 12 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Entry on the 1st floor
Interior Spaces
- 7,793 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 6 Bedrooms
- 5 Bathrooms
Pool
- Private Pool
- Fence Around Pool
Location
- Urban Location
Listing and Financial Details
- Legal Lot and Block 13 / C
- Tax Tract Number 2
- Assessor Parcel Number 4022025004
Community Details
Overview
- No Home Owners Association
- 7 Units
Amenities
- Laundry Facilities
Recreation
- Community Pool
Building Details
- Rent Control
- 7 Separate Electric Meters
- 7 Separate Gas Meters
- 7 Separate Water Meters
- Electric Expense $3,500
- Gardener Expense $1,500
- Insurance Expense $3,500
- Maintenance Expense $6,650
- Pest Control $500
- Pool Expense $4,400
- Trash Expense $4,042
- Water Sewer Expense $3,500
- New Taxes Expense $19,063
- Operating Expense $46,676
- Gross Income $1,200
- Net Operating Income $77,407
Ownership History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Nov 12, 2023
Closed on
Nov 28, 2023
Sold by
Bought by
Seller's Agent
Matthew Sillaman
LB Property Management Inc
Buyer's Agent
Matthew Sillaman
LB Property Management Inc
List Price
$1,525,000
Sold Price
$1,550,000
Premium/Discount to List
$25,000
1.64%
Views
32
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$995,000
Outstanding Balance
$971,164
Interest Rate
7.79%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 20, 2001
Sold by
Bought by
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$460,000
Interest Rate
5.72%
Mortgage Type
Commercial
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| $875,000 | Fidelity National Title | ||
| -- | Fntc-Glen |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Open | $250,000 | ||
| Open | $995,000 | ||
| Previous Owner | $995,000 | ||
| Previous Owner | $965,000 | ||
| Previous Owner | $625,000 | ||
| Previous Owner | $325,000 | ||
| Previous Owner | $460,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/15/2023 12/15/23 | Sold | $1,550,000 | +1.6% | $199 / Sq Ft |
| 11/15/2023 11/15/23 | Pending | -- | -- | -- |
| 11/12/2023 11/12/23 | For Sale | $1,525,000 | -- | $196 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $23,486 | $1,581,000 | $397,800 | $1,183,200 |
| 2024 | $21,596 | $1,550,000 | $390,000 | $1,160,000 |
| 2023 | $6,051 | $294,185 | $72,363 | $221,822 |
| 2022 | $6,105 | $288,418 | $70,945 | $217,473 |
| 2021 | $6,037 | $282,763 | $69,554 | $213,209 |
| 2019 | $5,773 | $274,378 | $67,492 | $206,886 |
| 2018 | $5,595 | $268,999 | $66,169 | $202,830 |
| 2016 | $5,184 | $258,554 | $63,600 | $194,954 |
| 2015 | $5,135 | $254,671 | $62,645 | $192,026 |
| 2014 | $5,160 | $249,683 | $61,418 | $188,265 |
Source: Public Records
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: SR23210133
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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