3864 Inglewood Boulevard Active Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90066
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 5,680 sqft
Price per Sqft $614
MLS Listing ID CL25581195
Year Built 1961
Lot Size 7,554 Sqft
Property Sub-Type Comm Ind For Sale
Property Description
* Renovated 10-unit, 2-story apartment building in West Los Angeles with 15 parking spaces updated with brand-new plumbing, electrical and windows *In-place cap rate of 6.36%, with below market assumable financing at 3.35% fixed for the next two years, providing an investor with positive leverage and immediate cash-on-cash of 13.08% * Consistent unit mix of 10 one-bedroom floorplans, with one unit boasting its own private terrace * An astute buyer can capture additional upside by adding 2 ADUs in the existing parking lot * All units are equipped with newly refinished hardwood floors, large closets, wall HVAC, stainless steel appliances, updated bath and kitchens, and in-unit washers and dryers * Submarket occupancy averaged 96.6% over the past five years * Submarket asking rents expected to rise 21% over the next two years * The average household income within a three-mile radius is $164,324
Location
State CA
County Los Angeles
Zoning LAR3
Building
New Construction No