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811 Austin Ave, Inglewood, CA 90302

$2,675,000

Description

Lyon Stahl Investment Real Estate is proud to present 811 Austin Avenue, an eight-unit apartment complex situated on a large 12,881 SF lot located in the highly sought-after NW corridor of Inglewood. All eight units are comprised of 2-bedrooms/1.75-bathrooms and are extremely large, averaging more than 1,275 SF per unit! The units are well laid out and feature walk-in closets. Many of the units have been upgraded with vinyl plank flooring and LED lighting. In addition, every unit has its own private patio or balcony (several are enclosed adding even more living space). The property has gated parking with phone entry allowing tenants access to nine carport spaces (each with a private storage cabinet). Onsite amenities include a laundry room with a washer & dryer and separate storage room. The structure was built in 1961, has a pitched composition shingle roof, and has partial copper plumbing. The annualized gross scheduled income is more than $190,000 and offers potential buyers nearly 15% in rental upside! At $262 PSF this investment opportunity will not last long!

 

Investment Highlights: 

  • Eight extremely large 2-bedrooms/1.75-bathrooms units averaging more than 1,275 SF per unit!
  • Every unit has a private patio or balcony, walk-in closet & gated carport parking space (9 total carports)
  • Several units have been upgraded with vinyl plank flooring and LED lighting
  • The annualized gross scheduled income is more than $190,000 and offers potential buyers nearly 15% in rental upside!
  • Offered at $262 PSF with approx. 4.5% CAP rate on current income!
  • $2.6 billion NFL stadium & neighborhood re-development already underway | Expected to host Super Bowl in 2021 and the Summer Olympics in 2028
  • Light Rail Metro Expansion expected to add 4 new Inglewood stops by 2019
  • Plans to revamp downtown “arts district” by 2020
  • Breaking News: “Inglewood’s City Council will vote on an exclusive negotiating agreement for a Clippers-controlled company to build an arena for the team”

Property Downloads

Address

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

Detail

Updated on January 21, 2019 at 5:12 pm

  • Price: $2,675,000
  • Sell Date: 1/14/19
  • Property Size: 10,210 Sq ft
  • Land Area: 12,870 Sq ft
  • Year Built: 1961
  • Property Type: Multifamily
  • Property Status: Sold
  • Numbers of Units: 8
  • NOI: $121,356
  • GRM: 13.91
  • CAP RATE: 4.54%
  • Price per Unit: $334,375

Contact info

Woody Stahl
Woody Stahl
(310) 880-0926(310) 880-0926
Linkedin
Brett Lyon
Brett Lyon
(310) 880-5328(310) 880-5328
Linkedin
Nico Rosmarin
Nico Rosmarin
(424) 226-9449(303) 819-5225
Linkedin

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