713 Edgewood St, Inglewood, CA 90302

713 Edgewood St, Inglewood, CA 90302

Inglewood, CA
$2,395,000

Property Description

ASSUMABLE $1.18M CHASE LOAN AT 4.70% INTEREST-ONLY THRU AUGUST 2027.. . This 8-unit apartment building is located in prime Inglewood, one of the hottest up-and-coming markets in Los Angeles. The property was built in 1972 and is comprised of (6) 1-bed / 1-bath units and (2) 2-bed /1-bath units. The property sits on a huge lot, nearly 9,000 square feet, and is zoned R3. The two-bedroom units have spacious balconies, and one of the one-bedrooms at the front of the building also has a large private balcony. Significant capital improvements have gone into the building, including new mainline sewer pipes, updated electrical components, and extensive interior renovations in 4 out of the 8 units. These tasteful renovations include new flooring, new kitchen/bathroom cabinets & fixtures, new stainless-steel appliances, bathroom tiling, recessed lighting, as well as new blinds and fans. The property also features 8 parking spaces and a community laundry area for additional income. Additionally, the property is being offered with a fantastic assumable Chase loan at 4.7% interest-only through August 2027, providing a 5.41% cash-on-cash. Lastly, the property offers room to build at least 3-4 ADUs in the tuck-under parking area, detached garage and attached storage areas (Buyer to verify).

Property Features

  • Sale Price: $2,395,000
  • Area Size: 8,918 sq ft lot
  • Year Built: 1972
  • Units: 8

Lyon Stahl Investment Real Estate

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