10934 Burin Ave, Lennox, CA 90304

10934 Burin Ave, Lennox, CA 90304

Lennox, CA

Property Description

10934 Burin Ave, a nine-unit apartment building located in the highly desirable rental market of Lennox-Inglewood. This bread-and-butter asset consists of one (1) 2-bed/1-bath unit and eight (8) 1-bed/1-bath units. The 5,604 SF apartment building sits on a large 8,889SF lot. Each unit has one covered parking space. The property went through the Inglewood sound abatement program: new Central AC and heating for each unit, new sound proof windows, new panels and meters, and newer wiring. Located next to the 105 & 405 Freeways, providing convenient access to the Westside, Downtown Los Angeles, LAX International Airport, and Long Beach. The subject property is 1 mile from Inglewood’s $7.5Billion Development: So-Fi Stadium (Rams/Charges) & Intuit Dome (Clippers). Along with the stadiums, the development will bring a new luxury hotel, Inglewood’s first movie theater in over 30-years and 620,000 SF of new retail. 10934 Burin Ave offers an astute investor the opportunity to acquire a bread-and-butter asset located in one of the fastest changing markets in the country. With strong rental income and an irreplaceable location, 10934 Burin Ave offers an excellent investment opportunity.

Property Features

  • Sale Price: $2,295,000
  • Area Size: 5,604 SF
  • Year Built: 1961
  • Listing Date: April 2, 2022
  • Units: 9
  • Current GRM: 14.58
  • Current Cap Rate: 4.28%
  • Market GRM: 11.84
  • Market Cap Rate: 5.74%
  • Current NOI: $98,223