2501 W Manchester Blvd - Office/Residential FOR SALE


Inglewood, CA 90305- Morningside Park
$900,000 USD
310-902-8977

NO PHOTO

$900,000 USD
Office/Residential - FOR SALE
null | 4.74% Cap Rate

2501 W Manchester Blvd
Inglewood, CA 90305
Morningside Park


OVERVIEW

The subject property is a commercial mixed-use building located in the City of Inglewood. The site consists of two buildings on two separate lots with a total of 5,005 square feet. They are zoned INC2YY. 2501 is comprised of two commercial spaces on the ground floor of approximately 500 square feet each. On the second floor is a large, one bedroom apartment containing approximately 855 square feet of living space. The entire building is rented but rents are currently below market for the area. 2505 consists of two commercial spaces. There is a beauty shop on the ground floor with approximately 1,022 square feet and an office above, which is currently vacant, and contains approximately 1,127 square feet. The residential unit is being rented for $1,600 which is about 15% below market rate. the commercial spaces are about 30% below market offering significant upside to an investor. With the liberal rent control policies in Inglewood, a new investor would be able to capture the upside with some capital improvements and an aggressive marketing campaign.

FOR SALE DETAILS

PRICE

$900,000 USD

PRICE/SF

$225 USD /SF

CAP RATE

4.74%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Turner Office Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Storefront, Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1940

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,483 SF

ZONING

INC2YY

APN/PARCEL ID

4010-034-008

ASK ABOUT THIS PROPERTY

Jerome McAlpinMcAlpin & CompanyMore Info
310-902-8977

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Jerome McAlpinMcAlpin & CompanyMore Info
310-902-8977

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