For sale 13 units apartment building. For more information please contact the listing agent, arminsoleimani@gmail.com (310) 666-2246

Posted: 05/21/2021 8:55 pm | On HOMEiZ: 1069 days | Updated: 10 months ago | Views: 1763 | Saved to favorites: 1

Location Map

Property Type

Property status

Sold

Property Price

Asking Price

$2848000

Last Sold Price

$2848000

Last Sold Date

05/26/2023

Total Lot Size

10,012.00 Sq. Ft.

Asking Price per Sq. Ft.

$382

Total Building Size Sq. Ft.

7464

Commission Split %

2.0%

Cap Rate %

6.0%

Gross Annual Income

Net Operating Income

$170880

Gross Rent Multiplier

12.30

Operating Expenses

Annual Property Tax Rate for this property

1.25%

Property tax total amount

$35600

Property Location & Description

Listing Headline

For sale 13 units apartment building. For more information please contact the listing agent, arminsoleimani@gmail.com (310) 666-2246

Rent control

Rent Control

Property Description

Value Add 13 units! 9-unit building + 4 Approved ADUs in prime Northwest Inglewood area priced at only 230k/door. Incredible Current Cap Rate of 6% and GRM of 12.3 with upside to 7.6% Cap and 10.3 GRM. Delivered with 3 vacant units for immediate upside and renovations. Approved Plans to convert the garages to 2 attached ADUs and convert a portion of the carport to 2 detached ADUs for a total of 4 ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.

Location Description

Excellent up and coming Inglewood location minutes from the Rams Stadium, Forum, Culver City, and Playa Vista.

No. of Units

Price per Unit

$219077

Units Mix

No.

Description

No. Units

Sq. Ft.

Avg. Mo. Rent

1+1

$1496

2+1

$1350

2+2

$2495

Studio + 1

$1709

APN / Parcel ID

4016-017-012

Zoning

INR3YY

Occupancy %

97.00%

Construction Type

Wood & Stucco

No. Stories

Year Built

1962

Overall Property Condition

Good

Highlights

9 Unit building + 4 Approved ADUs in Prime Northwest Inglewood area priced at only 230k/door

Incredible Current Cap Rate of 6% and GRM of 12.3 with upside to 7.6% Cap and 10.3 GRM after renovations

Excellent up and coming Inglewood location minutes from the Rams Stadium, Forum, Culver City, and Playa Vista.

Delivered with 3 vacant units for immediate upside and renovations.

Approved Plans to convert the garages to 2 attached ADUs and convert a portion of the carport to 2 detached ADUs for a total of 4 ADUs

Property Information

Amenities

Gated entry

Sewer

Type of Sewer

Sewer System (Public)

Parking

Parking type

Off-street

On-street

Assigned Parking

# of Covered Parkings

Investment Overview

Type of use

Investor

Energy Efficiency

Energy Star Certified

How old is you cooling and heating system?

No Data

Efficiency rating

N/A

R-value

N/A

Windows single-pane?

Natural daylight

Appliances energy efficient

Roof

Neighborhood lifestyle

Lifestyle

Urban Core

More information

MLS URL of this listing to link to your own site or brokerage site

https://offmarketexperts.com/

Listing Info

Listing ID: 2725

Sold

For Sale

$2,848,000

Listing Presented by

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228 Stepney Street . Inglewood , CA 90302