NOT LISTED FOR SALE
13 Beds
7 Baths
5,891 Sq Ft
7,907 Sq Ft Lot

Last Sold June 05, 2024

Last sale price $1,750,000 $297 Per Sq Ft

3 Days on Market

Highlights

  • Contemporary Architecture
  • Detached Carport Space
  • Ceiling Fan

About This Home

As of June 2024

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.

Last Agent to Sell the Property

Austin Chen

Keller Williams Beverly Hills License #01898306 Listed on: 04/08/2024

Keller Williams Beverly Hills

Last Buyer's Agent

Yunus Hopkinson

Keller Williams Realty-Studio City License #02071440

Keller Williams Realty-Studio City

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1960 | Remodeled

Lot Details

  • 7,907

Home Design

  • Contemporary Architecture

Interior Spaces

  • 5,891 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Oven or Range

Bedrooms and Bathrooms

  • 13 Bedrooms
  • 7 Bathrooms

Parking

  • 6 Parking Spaces
  • Detached Carport Space
  • Driveway
  • Uncovered Parking
  • Assigned Parking

Additional Features

  • 7,907 Sq Ft Lot
  • Heating System Mounted To A Wall or Window

Community Details

  • 6 Units
  • Rent Control

Listing and Financial Details

  • Assessor Parcel Number 4017-025-006

Property Details

Home Type

Multi-Family

Year Built

Built in 1960 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Style: Contemporary
  • Levels: Two
  • Street Number Display: Yes
  • Living Area: 5891
  • Lot Acreage: 0.1815
  • Price Per Unit: 316667.00
  • Property Condition: Updated/Remodeled
  • Stories: 2
  • Year Built: 1960
  • State Abbrv: CA
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Bedrooms: 13
  • Total Bathrooms: 7.00
  • Equipment: Ceiling Fan, Refrigerator, Range/Oven, Hood Fan
  • Price Per S Q F T: 322.53

Exterior Features

  • Other Structures: None
  • Tennis Court Y/N: No
  • Pool: No
  • Spa Yn: No
  • View: No

Garage/Parking

  • Parking Garage: Carport Detached, Driveway, Uncovered, Assigned
  • Total Parking: 6

Utilities

  • Heating: Wall

Lot Info

  • Assessed Improvement Percent: 21.11
  • Assessed Improvement Value: 223865
  • Assessed Land Percent: 78.89
  • Assessed Land Value: 836560
  • Total Assessed Value: 1060425
  • Assessor Parcel Number: 4017-025-006
  • Lot Size Area: 7907

Rental Info

  • Rent Control: Yes

Multi Family

  • Unit Type: 2106, 2107, 2108, 2109, 2110, 2111
  • Gross Rent Multiplier: 12.64
  • Number Of Units: 6
  • Rent Control: 100
  • Type Of Units: Apartments
  • Vacancy Allow Percent: 3.00

Range of Values:

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Value Increase
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Percent Increase
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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
06/05/2024 06/05/24 Sold $1,750,000 -7.9% $297 / Sq Ft
04/11/2024 04/11/24 Pending -- -- --
04/08/2024 04/08/24 For Sale $1,900,000 -- $323 / Sq Ft
Source: The MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: The MLS

MLS Number: 24-374545

The MLS