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Inglewood, CA 90302,712 W Beach AVE
Inglewood, CA 90302,712 W Beach AVE
Inglewood, CA 90302,712 W Beach AVE
$1,750,000
Est. payment /mo
$1,900,000
7.9%
Est.Price: ?

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13 Beds
7 Baths
5,891 SqFt
SOLD DATE : 06/05/2024

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

Bedrooms 13

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

Heating Wall Furnace

Cooling None

Exterior

Parking Features Assigned, Detached Carport, Driveway, Uncovered

Pool None

View Y/N No

View None

Building

Story 2

New Construction No

Others

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Austin Chen • Keller Williams Beverly Hills
Bought with Yunus Hopkinson • Keller Williams Realty-Studio City
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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