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946 W Beach Ave, Inglewood, CA 90302
0 Beds
0 Baths
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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 16 three-bedroom and 2 two-bedroom units, as well as onsite laundry facilities and ample parking of 27 spaces. Twelve of the 18 units are fully renovated, including new flooring, modern kitchens and baths, and upgraded fixtures throughout. Potential buyers will see the additional value-add opportunity in renovating the remaining six units. The property is located in Inglewood, one of the most exciting markets in California. Inglewood is home to the brand new $4.5 billion, 70,000-seat NFL stadium currently under construction; a proposed arena for the LA Clippers NBA team; and the massive 238-acre Hollywood Park Development, which will feature 2,500 units of housing, 620,000 square feet of retail space and a 300-room luxury hotel. Local property values have increased by 37% since 2016 and the city continues to be a desirable rental and investment location. 946-950 Beach Avenue presents an attractive opportunity for an investor to own a partially renovated asset with upside still remaining in one of the fastest growing markets in Los Angeles.
  • Price:
  • $7,200,000
  • Acreage:
  • 0.57
  • Year Built:
  • 1963
  • Listing ID #:
  • PW19205801
  • Street Address:
  • 946 W Beach Ave
  • City:
  • Inglewood
  • State:
  • California
  • Postal Code:
  • 90302
  • County:
  • Los Angeles
  • Community:
  • North Inglewood
  • Listing Status:
  • Active
  • Number Of Floors In Unit:
  • Two
  • Number Of Units:
  • 18
  • Stories:
  • 2
  • Total # Of Buildings:
  • 2
  • Year Built:
  • 1963
  • Year Built Source:
  • Assessor
  • Annual Electric Expenses:
  • 8556.00
  • Annual Insurance Expenses:
  • 8295.00
  • Annual Maintenance Expenses:
  • 28000.00
  • Annual Trash Expenses:
  • 8556.00
  • Annual Water/Sewer Expenses:
  • 8556.00
  • Expenses:
  • 224485.00
  • Gross Income:
  • 468270.00
  • Net Operating Income:
  • 243785.00
  • Operating Expense:
  • 224485.00
  • Approximate Lot Size Range Source:
  • Assessor
  • Conforms To Zoning:
  • Inr3yy
  • Lot Features:
  • 16-20 Units/Acre
  • Lot Square Footage:
  • 25014.00
  • Community Features:
  • Curbs, Street Lights, Urban
  • Price Per Square Foot:
  • 336.13
  • Laundry:
  • 1
  • Laundry Description:
  • Common Area
  • Garage Parking Spaces:
  • 27.00
  • Parking Description:
  • Subterranean
  • Parking Spaces:
  • 27.00
  • Existing Water:
  • Public
  • Sewage Type:
  • Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.

Your Payment
$1,400/mo
  • Listing Provided By Robert Stepp of Keller Williams Pacific Estate
  • CRMLS

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