909 W Beach Ave, Inglewood, CA 90302

909 W Beach Ave, Inglewood, CA 90302

Inglewood, CA

Property Description

Nico Rosmarin of Lyon Stahl is pleased to present 909 Beach Avenue, an eight-unit apartment building located in the highly desirable Northwest neighborhood of Inglewood. This turnkey asset is comprised of one (1) 2-bed/2.5-bath unit, three (3) 2-bed/1-bath units, three (3) 1-bed/1-bath units and one (1) studio. The 5,709 SF apartment building sits on a large 9,112 SF lot and features private yards for two of the units and a private garage and entry for unit 2. Additionally, there are seven (7) parking spots for the other units.
909 Beach Avenue is located just east of the 405 Highway, providing convenient access to the Westside, Downtown Los Angeles, LAX International Airport, and Long Beach. The subject property is in close proximity to the future Hollywood Park Redevelopment, the future home of the Los Angeles Rams and Chargers, slated to be the world’s most expensive sports stadium. Along with the stadium, the development will bring approximately 3,000 new housing units, a luxury hotel and 620,000 SF of new retail. 909 Beach Avenue offers an astute investor the opportunity to acquire a turnkey asset located in one of the fastest changing markets in the country. With strong rental income and an irreplaceable location, 909 Beach Avenue offers an excellent investment opportunity.

Property Features

  • Sale Price: $2,450,000
  • Area Size: 5,709 SF
  • Land Area: 9,112 SF
  • Year Built: 1962
  • Listing Date: 7/30/18
  • Closing Date: 10/25/18
  • Units: 8
  • Current GRM: 14.34
  • Current Cap Rate: 4.84%
  • Price Per Unit: $306,250
  • Market GRM: 13.11
  • Market Cap Rate: 5.48%
  • Current NOI: $118,573