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712 W Beach AVE Inglewood, CA 90302
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Key Details
Sold Price $1,750,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,891 sqft
Price per Sqft $297
MLS Listing ID 24374545
Sold Date 06/05/24
Bedrooms 13
Construction Status Updated/Remodeled
HOA Y/N No
Year Built 1960
Lot Size 7,906 Sqft
Property Description
INVEST IN INGLEWOOD'S RENAISSANCE! We are pleased to present this 6-unit apartment building near the KIA Forum, SoFi Stadium, YouTube Theater, Hollywood Park, and the soon-to-be-completed Intuit Dome. Located in Inglewood's Art District, this property presents an excellent investment opportunity for new and experienced real estate investors and exchange buyers alike. Its convenient location in the heart of Inglewood's growth puts it in high demand, offering the potential for steadily increasing rental income and future appreciation. The building features a mix of one 3+2 unit and five 2+1 units, maximizing rental income. The property is well-maintained, with nearly 50% of the units being partially or fully renovated, and attracts a diverse tenant base and caters to a wide range of tenant preferences. Well-qualified buyers can take advantage of favorable financing terms with an assumable loan (approximate balance of $1.115M, fixed at 4.01% until January 2027), subject to lender fees and approval. Unit #4 is currently vacant, with a conservatively projected rent of $2,100 per month included in the provided rent roll. This represents an immediate opportunity to increase the property's cash flow upon acquisition. Annual parking income is $4,500 for 6+ spaces. Don't miss out on this exceptional investment opportunity in Inglewood's thriving market.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Interior
Interior Features Ceiling Fan(s)
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Refrigerator
Exterior
Parking Features Assigned, Detached Carport, Driveway, Uncovered
Pool None
View Y/N No
View None
Attached Garage No
Total Parking Spaces 6
Private Pool No
Building
Story 2
Entry Level Two
Architectural Style Contemporary
Level or Stories Two
New Construction No
Construction Status Updated/Remodeled
Others
Senior Community No
Tax ID 4017025006
Financing Assumed,Cash
Special Listing Condition Standard
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Bought with Yunus Hopkinson • Keller Williams Realty-Studio City