UPDATED:
Key Details
Property Type Other Types
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS26228444
HOA Y/N No
Year Built 1985
Lot Size 0.275 Acres
Property Sub-Type Apartment
Property Description
A potential value-add opportunity exists to explore converting a portion of the carport area into Accessory Dwelling Units (ADUs). Investors may evaluate the feasibility of converting up to 12 parking spaces into additional residential units while potentially retaining one parking space per existing apartment, subject to City of Inglewood approval, applicable ADU regulations, building requirements, and independent buyer verification.
The property has benefited from approximately $150,000 in owner-reported improvements, including select renovated kitchens and bathrooms, updated flooring, appliances, water heaters, laundry facilities, lighting, landscaping, and common-area enhancements. SB 721 work is reported completed.
The investment offers a 5.00% current capitalization rate with estimated annual NOI of $226,016 and a projected 6.20% market capitalization rate with estimated market NOI of $280,143, providing additional rental upside potential.
Conveniently situated near SoFi Stadium, the Kia Forum, LAX, and the 405 Freeway, with access to major Los Angeles employment centers, shopping, dining, and entertainment destinations. An attractive opportunity to acquire a multifamily asset with a desirable unit mix, substantial improvements, potential ADU development opportunities, and income growth potential.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Interior
Heating Wall Furnace
Fireplaces Type None
Fireplace No
Laundry Common Area, Laundry Room
Exterior
Pool None
Community Features Curbs, Street Lights, Sidewalks, Urban
Utilities Available Sewer Connected, Water Available, Water Connected
Total Parking Spaces 24
Private Pool No
Building
Lot Description Corner Lot, Landscaped
Story 3
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
New Construction No
Others
Senior Community No
Tax ID 4014027020
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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