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946 W Beach Ave, Inglewood, CA 90302
0 Beds
0 Baths
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946-950 Beach Ave is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013 sq ft lot, the property offers a desirable mix of sizable (16) three-bedroom and (2) two-bedroom units, with an average unit size of 1,190 sq ft. Twelve of the 18 units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. The property also provides onsite laundry facilities and ample parking of 27 secured spaces. VALUE ADD OPPORTUNITY. This asset is offered at a 4.24% going-in cap rate and 6.32% market cap rate. The new owner can take advantage of the value-add opportunity in renovating the remaining six units. In total the property offers significant rental upside potential of 32% . 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 sq ft of retail space and a 300-room luxury hotel. The city is investing in infrastructure projects to connect Inglewood to all parts of Los Angeles and support the new development drawing international attention. Los Angeles International Airport itself is also undergoing a massive expansion to accommodate the expected influx of new travelers. Local property values have increased by 37% since 2016 and the city continues to be a desirable rental and investment location.
  • Price:
  • $6,950,000
  • Acreage:
  • 0.57
  • Year Built:
  • 1963
  • Listing ID #:
  • PW20032918
  • 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
  • Unit Total # Of Garages:
  • 12.00
  • Year Built:
  • 1963
  • Year Built Source:
  • Assessor
  • Annual Electric Expenses:
  • 6656.00
  • Annual Insurance Expenses:
  • 8295.00
  • Annual Maintenance Expenses:
  • 13500.00
  • Annual Trash Expenses:
  • 6656.00
  • Annual Water/Sewer Expenses:
  • 6656.00
  • Expenses:
  • 178295.00
  • Gross Income:
  • 473003.00
  • Net Operating Income:
  • 294708.00
  • Operating Expense:
  • 178295.00
  • 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
  • Days On Market:
  • 54
  • Price Per Square Foot:
  • 324.46
  • Laundry:
  • 1
  • Laundry Description:
  • Common Area
  • Garage Parking Spaces:
  • 15.00
  • 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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