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Listing 17 out of 36
$6,195,000 Pending

941 N Cedar Street
Inglewood, CA 90302

24 units | Multi Family Home
0.5739 acres - MLS# 19453718
Property Photo
1/11

Description

Owned by current owner since the mid-1990's, this late 1950's era apartment complex located in N/W Inglewood. It boasts a good unit mix and sits on 2 separate distinct APN #'s creating one very large lot. It has carport parking and gated entrance with dual driveways and 2 laundry rooms. Building is very well maintained with new windows throughout and beautiful land and hardscape. Seller states complete vertical & horizontal plumbing upgrades were made in 2016. This opportunity offers the investor a property that is well maintained, with rental upside. It is a perfect candidate to satisfy move up 1031 exchange requirements. This is a complex that the majority of likely residents in the area can afford to live in, which usually spells high occupancy and collections. The leverage potential this investment provides, combined with a GRM on the lower end of the regional average presents an opportunity to make your clients capital work to its ultimate advantage.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Pending
  • Zip Code: 90302
  • Year Built: 1956
  • Units: 24 units
  • Lot Size: 0.5739 acres
  • Zoning: INR3YY
  • Area: 101 - North Inglewood
  • Appliances: Disposal
  • Appliances YN: Yes
  • Building Area Total: 16204.00
  • Cooling: Wall/Window Unit(s)
  • Cooling YN: Yes
  • Directions: South of Centinela, East of La Cienega
  • Gross Multiplier: 15.33
  • Gross Operating Income: 392130.00
  • Listing Agent License: 00998653
  • Listing Office License: 01187022
  • Lot Dimensions: 100x250
  • Lot Size Area: 25000.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CL
  • Net Operating Income: 219262.00
  • Number Of Buildings: 2
  • Parking Features: Carport
  • Parking YN: Yes
  • Roof: Composition
  • Stories Total: 2
  • Total Expenses: 172863.00
Courtesy of Miller & Desatnik Realty Co., James Gilb

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Michael Clark
Home Team Realty

2501 W. 237th Street #C
Torrance, CA 90505
Phone: 310-920-2967
Email: mcsouthbay@yahoo.com
DRE #00425966

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