UPDATED:
12/11/2024 11:36 PM
Key Details
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID RS24247822
HOA Y/N No
Year Built 1954
Lot Size 0.264 Acres
Property Description
Amenities include an on-site laundry facility, nine parking spaces, and a common-area pool. Eight of the nine units have been renovated between 2009 and 2021, yet current rents remain approximately 36% below market despite increases in September 2024.
Recent Upgrades (2013–2022):
- Pool and deck resurfacing, drainage to code
- Roof replacement (2014/2019)
- New handrails, entry gate, and LED carport lighting
- Walkway resurfacing, concrete leveling, and exterior paint
- SB721 compliant: owner has completed the required inspections of balconies, decks, and elevated walk ways.
Additional Value-Add Potential:
Under CA State Bill SB1211, the property qualifies for the addition of (4) 450 sq. ft. 1BD/1BA ADUs, boosting cash-on-cash returns to 8.69% at pro forma rents. Beginning January 2025, rental increase limits will align with California’s 5% + CPI cap, providing a pathway to market rents faster.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Laundry Common Area
Exterior
Parking Features Covered
Carport Spaces 9
Pool In Ground, Private
Community Features Storm Drain(s), Street Lights, Sidewalks, Urban
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Roof Type Flat
Total Parking Spaces 9
Private Pool Yes
Building
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4017020013
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard
