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815 W Beach Ave, Inglewood, CA 90302

$2,100,000

Description

Lyon Stahl is proud to offer 815 W Beach Avenue in Inglewood, a 9-unit apartment building located in the Northwest Highland neighborhood of Inglewood, near Ladera Heights. The 6,550 sq ft building sits on a 9,062 sq ft lot, boasting a desirable unit mix of six (6) 1-bed/1-bath units and three (3) 2-bed/1-bath units and benefits from a new roof and copper plumbing installed approximately 13 years ago. A laundry room onsite generates additional income for the owner.
This offering presents the opportunity to own a non-rent control property with 40% rent upside in a high demand rental market that still has tremendous growth potential. Tenants appreciate the convenient location just blocks from La Cienega Blvd and Centinela Ave, and less than one mile from the 405.
The City of Champions Revitalization Initiative slated to include 890,000 square feet of retail space, 25 acres of park and open space, revamped casino, performing arts venue and numerous fine dining restaurants is less than two miles away. Inglewood median home sales prices have increased over 35% since January 2015*, making it more difficult for home ownership and ensuring a continued strong rental market. With overall rent increases of 40% over the same time period**, multifamily appreciation has seen a similar trend in value.

Address

  • City: Inglewood
  • State/county: CA
  • Country: United States

Detail

Updated on June 5, 2018 at 3:48 pm

  • Price: $2,100,000
  • List Date: 5/14/18
  • Property Size: 6,550 Sq ft
  • Land Area: 9,062 Sq ft
  • Year Built: 1957
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 9
  • NOI: $75,163
  • GRM: 16.39
  • CAP RATE: 3.58%
  • Price per Unit: $233,333
  • Market GRM: 12.12
  • Market CAP RATE: 5.58%

Contact info

Daniel Shieh
Daniel Shieh

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