746 Cory Drive, Inglewood, CA 90302
- $1,775,000
- Sold Price
- $1,775,000
- List Price
- $1,850,000
- Closing Date
- Mar 28, 2025
- Status
- CLOSED
- MLS#
- SB24236205
- Year Built
- 1953
- Lot Size
- 9,645
- Acres
- 0.22
- Lot Location
- 0-1 Unit/Acre
- Days on Market
- 32
- Property Type
- Multifamily
- Property Sub Type
- Apartment
Property Description
PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large One Bedrooms (8) and Two Bedroom One Bath Units (3). Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. This asset is NOT Subject to LA City or LA County Rent Control restrictions. Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters) and Individual Electric Meters. Common area laundry on site (Vender has MTM Agreement). Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single car enclosed garage. Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered. Other recent upgrades: SB 326 Balcony requirements: Inspected and Repairs completed with permits by National Deck. Stairway railings brought up to current code height and spacing requirements. Main Gas Meters updated with Earthquake Shut off Valves - to comply with Insurance Requests.
/u.realgeeks.media/jeremysifuentes/header.png)
Additional Information
- Pool Description
- None
- Garage Spaces Total
- 3
- Sewer
- Public Sewer
- Attached Structure
- Attached
- Number Of Units Total
- 8
- Gross Scheduled Income
- $169,116
- Operating Expense
- 55497
Listing courtesy of Listing Agent: David Holstein (david@theholsteingroup.com) from Listing Office: The Holstein Group.
Listing sold by General NONMEMBER from NONMEMBER MRML
Mortgage Calculator
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.