NOT LISTED FOR SALE

869 Glenway Dr Inglewood, CA 90302

North Inglewood Neighborhood
16 Beds
9 Baths
7,145 Sq Ft
0.36 Acres

Last Sold February 14, 2024

Last sale price $2,500,000 $350 Per Sq Ft

31 Days on Market

Highlights

  • 0.36 Acre Lot
  • No HOA
  • Recessed Lighting
  • Quartz Countertops
  • Cooling System Mounted To A Wall/Window
  • Laundry Room

About This Home

As of February 2024

Substantially improved 8 units in Northwest Inglewood including new 2 bed 2 bath ADU. Phenomenal unit mix of (7) 2 bed 1 bath units with private gated yards and (1) 2 bed 2 bath ADU. All eight units have interior washer/dryer connections. New 600 amp electrical service. 12 total parking spaces and the ability to construct an additional one bed ADU in the remaining three garage spaces. Five of eight units have been fully renovated including plumbing and electrical upgrades, new vinyl windows, and wall mounted AC units. 5.27% cap rate on actual financials, adjusting for property taxes. 6.50% pro forma cap rate after renovating the remaining three original units.

Last Agent to Sell the Property

John Chelius

Property Works RE, Inc. License #01936287 Listed on: 11/06/2023

Last Buyer's Agent

Scott Harvey

Figure 8 Realty License #01963157

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1956

Lot Details

  • 0.36 Acre Lot
  • Two or More Common Walls
  • Density is up to 1 Unit/Acre

Parking

  • 9 Open Parking Spaces
  • 3 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • Apartment
  • Composition Roof
  • Partial Copper Plumbing

Interior Spaces

  • 7,145 Sq Ft Home
  • 2-Story Property
  • Recessed Lighting
  • Laminate Flooring
  • Laundry Room

Kitchen

  • Dishwasher
  • Quartz Countertops

Bedrooms and Bathrooms

  • 16 Bedrooms
  • 9 Bathrooms

Location

  • Urban Location

Utilities

  • Cooling System Mounted To A Wall/Window
  • Wall Furnace
  • Tankless Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas, parking fee
  • Tax Lot 182
  • Tax Tract Number 652
  • Assessor Parcel Number 4017019033

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 8 Units

Building Details

  • Rent Control
  • 8 Separate Electric Meters
  • 8 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $1,434
  • Gardener Expense $2,400
  • Insurance Expense $4,506
  • Professional Management Expense $10,059
  • Trash Expense $4,143
  • Water Sewer Expense $4,141
  • Operating Expense $77,407
  • Gross Income $2,000
  • Net Operating Income $146,524

Property Details

Home Type

Multi-Family

Year Built

Built in 1956

Lot Details

0

Parking

3

Listing Details

  • Assessments: Yes
  • CapRate: 5.27
  • Other Phone Description: 310-722-0360
  • Price Per Unit: 335000
  • Professional Management Expense: 10059.00
  • Property Attached: Yes
  • Water Sewer Expenses: 4141.00
  • Zoning: INR3YY
  • Property Sub Type: Apartment
  • Property Type: Residential Income
  • Gardener Expense: 2400.00
  • Parcel Number: 4017019033
  • Year Built: 1956
  • Special Features: None

Interior Features

  • Fireplace: No
  • Interior Amenities: Copper Plumbing Partial, Quartz Counters, Recessed Lighting
  • Stories: 2
  • Entry Location: Street
  • Common Walls: 2+ Common Walls
  • Flooring: Laminate
  • Appliances: Yes
  • Entry Level: 1
  • Price Per Square Foot: 349.90

Exterior Features

  • Pool Private: No
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 3.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 12.00
  • Uncovered Spaces: 9.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Tankless Water Heater
  • Heating Type: Wall Furnace
  • Laundry Features: Inside
  • Sewer: Public Sewer
  • Trash Expense: 4143.00
  • Water Source: Public
  • Cooling: Wall/Window Unit(s)
  • Cooling: Yes

Condo/Co-op/Association

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

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Sq Ft: 15566.00
  • Lot Size Acres: 0.3573

Rental Info

  • Tenant Pays: Electricity, Gas, Parking Fee

Multi Family

  • Average2 Bed Area: 900 Square Feet
  • Electric Expense: 1434.00
  • Garage Income: 2000.00
  • Gross Income: 2000.00
  • Gross Multiplier: 11.60
  • Gross Operating Income: 258680.00
  • Gross Scheduled Income: 230856.00
  • Insurance Expense: 4506.00
  • Lot Size Area: 15566.0000 Square Feet
  • Net Operating Income: 146524.00
  • Number Of Rented Garages: 3
  • Number Of Separate Electric Meters: 8
  • Number Of Separate Gas Meters: 8
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 8
  • Number Wall A C: 5
  • Operating Expense: 77407.00
  • Rent Control: Yes
  • Total Expenses: 77407.00
  • Vacancy Allowance: 6925
  • Vacancy Allowance Rate: 3.00

Tax Info

  • Tax Census Tract: 6013.02
  • Tax Lot: 182
  • Tax Tract Number: 652

Range of Values:

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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 Change Sq Ft Price
02/14/2024 02/14/24 Sold $2,500,000 -6.7% $350 / Sq Ft
12/07/2023 12/07/23 Pending -- -- --
11/06/2023 11/06/23 For Sale $2,680,000 -- $375 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2024

    John Chelius

    Property Works RE, Inc.

    (310) 722-0360

    2 in this area

    6 Total Sales

    Section Image
  • Scott Harvey

    Buyer's Agent in 2024

    Scott Harvey

    Figure 8 Realty

    (831) 915-4692

    2 in this area

    57 Total Sales

    Section Image
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PW23206155

California Regional Multiple Listing Service (CRMLS)

California Los Angeles County Inglewood 90302 North Inglewood

869 Glenway Dr, Inglewood, CA

This home is located at 869 Glenway Dr, Inglewood, CA 90302 since 06 November 2023. This property was built in 1956. 869 Glenway Dr is a home located in Los Angeles County with nearby schools including Highland Elementary School, Parent (Frank D.) Elementary School, and Inglewood High School.

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.

California Regional Multiple Listing Service (CRMLS) 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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