212 E Tamarack Ave - Apartments FOR SALE


Inglewood, CA 90301
$3,250,000 USD
310-956-2291
212 E Tamarack Ave, Inglewood, CA for Sale
$3,250,000 USD
Apartments - FOR SALE
1/15
null | 6.15% Cap Rate

212 E Tamarack Ave
Inglewood, CA 90301


HIGHLIGHTS

  • 12 Unit Apartment Walking Distance to SoFi Stadium – The building lies only a half of a mile away from SoFi Stadium and renowned LA Forum.
  • Attractive In-Place Rents with Clear Upside – The asset currently operates at a 6.15% cap rate and a 10.82 GRM with clear upside.
  • 12 Individual Co-Op Units – The units were originally constructed in 1960 as Co-Op units or Own Your Own apartment units. Potential condo conversion.
  • 7 Units on Section 8 Vouchers and One Unit Vacant – Seven of the units are on Section 8 vouchers providing strong guaranteed income.
  • Potential for 1-2 Vacant Units at Close of Escrow - Leading to clear upside and potential to capture market rents.
  • Subterranean Parking – 12 subterranean parking spaces is a significant competitive advantage in the Inglewood submarket.

OVERVIEW

John Katnik of BRC Advisors is pleased to present the exclusive offering of 212 E Tamarack Ave, a well-maintained apartment complex in the heart of Inglewood, steps away from SoFi Stadium. This asset presents a rare opportunity to acquire a well-located, high-quality 12-unit apartment building in the heart of Inglewood, walking distance from SoFi Stadium and the Hollywood Park development. Constructed in 1960, the property consists of 9,802 square feet of rentable square feet situated on a 11,747 square foot lot. The units were originally constructed in 1960 as Co-Op units or Own Your Own apartment units. An investor has the future potential to separate each unit and sell the units off individually. Buyer to do own investigation with city of Inglewood and review preliminary title report. The property offers strong in-place income with a current 6.15% cap rate and 10.82 GRM, with upside to a 7.39% pro forma cap rate and 9.40 pro forma GRM upon stabilization. The building is individually metered for gas and electricity keeping utility costs low for the owner. The property includes central AC / heating and soundproof windows and doors. Multiple units have been renovated, and 7 units are on Section 8 vouchers providing strong guaranteed income. One unit could be delivered at close of escrow. Additional highlights include 12 subterranean parking spaces and an on-site laundry facility (leased machines). Positioned in one of Southern California’s fastest-evolving rental markets, 212 E Tamarack Ave offers investors durable cash flow, strong rental demand, and a rare opportunity to own an irreplaceable multifamily asset with long-term upside.

FOR SALE DETAILS

PRICE

$3,250,000 USD

PRICE/SF

$332 USD /SF

# OF UNITS

12

PRICE/UNIT

$270,833

CAP RATE

6.15%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Bread and Butter 12 Unit Close to SoFi!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,540 SF

ZONING

INR3YY

APN/PARCEL ID

4021-034-026

ASK ABOUT THIS PROPERTY

John KatnikBRC Advisors - BH, Inc.More Info
310-956-2291

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John KatnikBRC Advisors - BH, Inc.More Info
310-956-2291

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.