Inglewood, CA 90302,946 950 W Beach AVE
Inglewood, CA 90302,946 950 W Beach AVE
Inglewood, CA 90302,946 950 W Beach AVE
22
$6,400,000
$6,700,000
4.5%
Est.Price: ?

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0.57 Acres Lot

946 950 W Beach AVE Inglewood, CA 90302

Est. payment /mo
SOLD DATE : 12/26/2023

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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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California Regional MLS (CRMLS)
Listed by Robert Stepp • Keller Williams - Santa Monica • 310-463-2916
Bought with Mark Witsken • KW Advisors

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Kelly Corsino

Agent | License ID: 01704102

+1(949) 229-0019

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