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946 950 W Beach AVE Inglewood, CA 90302
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Key Details
Sold Price $6,400,000
Property Type Multi-Family
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
MLS Listing ID PW23048120
Sold Date 12/26/23
HOA Y/N No
Year Built 1963
Lot Size 0.574 Acres
Property Description
946-950 Beach Avenue is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013-square-foot lot, the property offers a desirable mix of sizable units: sixteen (16) three-bedrooms and (2) two-bedrooms. Fourteen (14) units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. Two (2) units are partially renovated with new floors. In-unit washer/dryers have been installed in eight units. The property also provides onsite laundry facilities and 27 secured parking spaces. Seismic retrofitting has been completed and new roofs were installed on both buildings in 2022. This asset is offered with an interest-only 3.650% assumable loan. The new owner will be able to take advantage of the value-add opportunity in renovating the remaining units. The property offers significant rental upside potential of approximately 12% .
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Interior
Fireplace No
Laundry Common Area, Inside
Exterior
Carport Spaces 27
Pool None
Community Features Sidewalks
Total Parking Spaces 27
Private Pool No
Building
Lot Description 16-20 Units/Acre
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4017005038
Energy Description 8691.7
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash
Special Listing Condition Standard
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Bought with Mark Witsken • KW Advisors