869 Glenway Drive, Inglewood, CA 90302
- $2,500,000
- Sold Price
- $2,500,000
- List Price
- $2,680,000
- Closing Date
- Feb 14, 2024
- Status
- CLOSED
- MLS#
- PW23206155
- Year Built
- 1956
- Lot Size
- 15,566
- Acres
- 0.36
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 30
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property Description
Substantially improved 8 units in Northwest Inglewood including new 2 bed 2 bath ADU. Phenomenal unit mix of (7) 2 bed 1 bath units with private gated yards and (1) 2 bed 2 bath ADU. All eight units have interior washer/dryer connections. New 600 amp electrical service. 12 total parking spaces and the ability to construct an additional one bed ADU in the remaining three garage spaces. Five of eight units have been fully renovated including plumbing and electrical upgrades, new vinyl windows, and wall mounted AC units. 5.27% cap rate on actual financials, adjusting for property taxes. 6.50% pro forma cap rate after renovating the remaining three original units.
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Additional Information
- Appliances
- Dishwasher, Tankless Water Heater
- Pool Description
- None
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- Wall/Window Unit(s)
- Roof
- Composition
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Water
- Public
- Interior Features
- Quartz Counters, Recessed Lighting
- Attached Structure
- Attached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $230,856
- Operating Expense
- 77407
Listing courtesy of Listing Agent: John Chelius (john@montlakere.com) from Listing Office: Property Works RE, Inc..
Listing sold by Scott Harvey from Figure 8 Realty
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