3835 W 104th St - Apartments FOR SALE


Inglewood, CA 90303
$6,600,000 USD
310-428-7580
3835 W 104th St, Inglewood, CA for Sale
$6,600,000 USD
Apartments - FOR SALE
1/10
null | 6.29% Cap Rate

3835 W 104th St
Inglewood, CA 90303


HIGHLIGHTS

  • 3.49% Fixed Interest Rate Loan Assumption Available
  • Well balanced unit mix
  • Same Ownership and Management for over 20 years
  • Value Add Opportunity

OVERVIEW

Lee & Associates Apartment Advisors is proud to present Inglewood Palms, located at 3835 W. 104th Street, Inglewood, CA. The 28 unit apartment community is comprised of ±23,555 square feet and situated on a ±30,338 square foot parcel. The unit is mix consists of 4 x Studios, 10 x One Bedroom/One Bath, 13 x Two Bedroom/One and Three-Quarter Bath, and 1 x Three Bedroom/Two Bath. Each apartment is individually metered for gas and electric. Some of the first floor apartments have patios, and the second floor apartments have balconies. The property has a central water heating system. The property is under the city of Inglewood Rent Control Ordinance, which allows for annual increases tied to CPI with a floor of 3%. Laundry machines are leased. ADU potential exists in the rear of the property above the carports; buyer to do their own due diligence with the city. The current debt of ±$4,059,115 can be assumed. The interest rate of 3.49% is fixed until May 1, 2027, yielding a healthy 7.67% year one cash-on-cash return based on a 39% down payment. With 1% adjustments every six months, an investor can enjoy two years of a well below market interest rate, before refinancing into longer term debt. Inglewood is rapidly evolving, with billions of dollars of private capital invested nearby, and Inglewood Palms is located right at the center of progress and growth. Intuit Dome is located around the corner, and nearby retail amenities include The Shops at Hollywood Park, Cosm, Costco, Target, Home Depot, and In-N-Out Burger. The property has easy freeway access to I-105 and I-405 with major employment drivers. SOFI Stadium, The Forum and You Tube Theater are within a five minute drive. Major employers in the area within a ten minute drive are LAX, SpaceX, Boeing, and Kaiser Permanente. SoFi Stadium is representing Los Angeles at this summer’s 2026 FIFA World Cup. Next year Super Bowl LXI will be played at SoFi. And in 2028, SoFi Stadium and Intuit Dome will be one of the central venues for the Los Angeles Summer Olympics cementing Inglewood’s legacy as a world class sports and entertainment destination. The offering represents a value-add opportunity for an investor to capture consistent rent growth and long term appreciation due to its pivotal path of progress location.

FOR SALE DETAILS

PRICE

$6,600,000 USD

PRICE/SF

$280 USD /SF

# OF UNITS

28

PRICE/UNIT

$235,714

CAP RATE

6.29%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

29

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,405 SF

ZONING

IN M1

APN/PARCEL ID

4032-007-023

ASK ABOUT THIS PROPERTY

Robert LeveenLee & AssociatesMore Info
310-428-7580

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Robert LeveenLee & AssociatesMore Info
310-428-7580

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