Inglewood, CA 90301,711 Walnut ST
Inglewood, CA 90301,711 Walnut ST
Inglewood, CA 90301,711 Walnut ST
13
$1,550,000
$1,525,000
1.6%
Est.Price: ?

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9,635 Sqft Lot

711 Walnut ST Inglewood, CA 90301

Est. payment /mo
SOLD DATE : 12/15/2023

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Key Details

Sold Price $1,550,000

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID SR23210133

Sold Date 12/15/23

HOA Y/N No

Year Built 1964

Lot Size 9,635 Sqft

Property Description

711 Walnut Street presents a unique opportunity to acquire a 7-unit multi-family property in Inglewood, CA, strategically positioned at the nexus of the beach cities, LAX, and downtown Los Angeles. Tenants will enjoy immediate access to renowned retail centers and entertainment hubs such as SoFi Stadium, Hollywood Park, KIA Forum, and the upcoming Intuit Dome. The pocket location is nestled in a charming neighborhood on a tree-lined street blending garden apartments with residential housing. Embracing a vintage mid-century modern style architecture characterized by bold lines and overhanging eaves reminiscent of the aesthetics found in Palm Springs. This property boasts a diverse unit mix comprised of: - ONE (1) 3-bedroom | 2-bathroom unit; TWO (2) 2-bedroom | 2-bathroom units; and FOUR (4) 1-bedroom | 1-bathroom units. Rental Units are large (blended avg. over 1,000 SF each) and provide ample natural lighting. The property features semi-subterranean and garaged parking, on-site laundry, pool, and separate gas and electric metering for each unit. The potential for significant value enhancement is substantial, with current rents reflecting potential upside of over 50%. There is also an opportunity for a savvy investor to assume the existing CHASE loan, offering advantageous terms with +/-6 years remaining at a fixed rate of 4.49%. The terms require a 1% assumption fee and a $2,000 processing fee. This property presents an excellent investment prospect for those seeking immediate cash flow and long-term growth potential!

Location

State CA

County Los Angeles

Area 101 - North Inglewood

Zoning INR3YY

Interior

Fireplace No

Laundry Common Area

Exterior

Parking Features Assigned, Concrete, Covered, Garage

Garage Spaces 12.0

Garage Description 12.0

Pool Association, Community, Fenced, Private

Community Features Urban, Pool

Total Parking Spaces 12

Private Pool Yes

Building

Lot Description Level

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4022025004

Acceptable Financing Cash, Conventional, Contract, 1031 Exchange

Listing Terms Cash, Conventional, Contract, 1031 Exchange

Financing Assumed

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Matthew Sillaman • LB Property Management Inc • 541-543-0407
Bought with Matthew Sillaman • LB Property Management Inc

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Kelly Corsino

Agent | License ID: 01704102

+1(949) 229-0019

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