946 950 W Beach Avenue, Inglewood, CA 90302
- $6,400,000
- Sold Price
- $6,400,000
- List Price
- $6,700,000
- Closing Date
- Dec 26, 2023
- Status
- CLOSED
- MLS#
- PW23048120
- Year Built
- 1963
- Lot Size
- 25,014
- Acres
- 0.57
- Lot Location
- 16-20 Units/Acre
- Days on Market
- 249
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
946-950 Beach Avenue is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013-square-foot lot, the property offers a desirable mix of sizable units: sixteen (16) three-bedrooms and (2) two-bedrooms. Fourteen (14) units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. Two (2) units are partially renovated with new floors. In-unit washer/dryers have been installed in eight units. The property also provides onsite laundry facilities and 27 secured parking spaces. Seismic retrofitting has been completed and new roofs were installed on both buildings in 2022. This asset is offered with an interest-only 3.650% assumable loan. The new owner will be able to take advantage of the value-add opportunity in renovating the remaining units. The property offers significant rental upside potential of approximately 12% .
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Additional Information
- Pool Description
- None
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 18
- Gross Scheduled Income
- $569,579
- Operating Expense
- 210238
Listing courtesy of Listing Agent: Robert Stepp (rstepp@steppcommercial.com) from Listing Office: Keller Williams - Santa Monica.
Listing sold by Mark Witsken from KW Advisors
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.