629 Hardin Drive, Inglewood, CA 90302
- $1,620,000
- Sold Price
- $1,620,000
- List Price
- $1,650,000
- Closing Date
- Mar 12, 2024
- Status
- CLOSED
- MLS#
- PW23206291
- Year Built
- 1956
- Lot Size
- 8,886
- Acres
- 0.20
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 47
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
- Stories
- Two Levels
Property Description
Substantially improved 5 unit apartment building in Northwest Inglewood with the ability to construct a 3 bed 2 bath ADU in the tuck under garages. Soft story retrofit work has already been completed. Phenomenal unit mix consisting of (5) 2 bed 1 bath units, two with large gated yards. 5 garage spaces with 5 additional uncovered spaces. Three units have been completed gutted and feature interior W/D units, new vinyl windows, plumbing and electrical upgrades, quartz counters, and new appliances. 5.35% CAP rate on actual financials adjusting for property taxes. 6.40% pro form CAP rate after renovating the remaining two original units. Potential 7.15%+ CAP rate after constructing an ADU.
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Additional Information
- Pool Description
- None
- Garage Spaces Total
- 5
- Sewer
- Public Sewer
- Water
- Public
- Attached Structure
- Attached
- Number Of Units Total
- 5
- Gross Scheduled Income
- $131,256
- Operating Expense
- 40918
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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