604 Venice Way - Apartments FOR SALE


Inglewood, CA 90302
$1,725,000 USD
310-428-7580
604 Venice Way, Inglewood, CA for Sale
$1,725,000 USD
Apartments - FOR SALE
1/11
null | 5.75% Cap Rate

604 Venice Way
Inglewood, CA 90302


HIGHLIGHTS

  • Highly sought after Inglewood location
  • Close to many shopping amenities
  • Increased ADU development potential with SB 1211
  • New Roof

OVERVIEW

Lee & Associates Apartment Advisors is pleased to present Venice Way Apartments, a six unit apartment community situated in Inglewood. Constructed in 1989, Venice Way Apartments boasts ±6,184 SF, and its unit mix is comprised of two x 1 bedroom/1 bath + den, two x 2 bedroom/1 bath, and two x 3 bedroom/1.75 bath apartments. Each apartment has its own water heater, and the property has owned laundry machines. Parking is serviced by fourteen parking spaces, in a carport, shared garage, and a private two car garage. Additionally, the roof was replace within the last two years. Given, the parking configuration, an opportunity to develop ADUs exist. With the new state law SB 1211 in effect as of January, 2025, the number of detached ADUs on a multifamily property is now increased. Buyer to verify with the city of Inglewood the maximum allowed. Venice Way Apartments is located in the northwest section of Inglewood, on a quiet side street, and is located far away from the noise of LAX’s final approach and adjacent to Ladera Heights and Kenneth Hahn State Park. The property enjoys easy access to local shopping centers which boast national brands including Amazon Fresh grocery store, Chick fil-A, Panda Express, Starbucks, Marshalls and Ralph’s. Access to LAX, the beaches, Beverly Hills and Century City via I-405 and CA 90 is within a few minutes drive. Long known as the “City of Champions”, Inglewood is the gateway to LAX, and in recent years, has attracted multiple billion-dollar developments including SoFi Stadium, YouTube Theater, and Intuit Dome. The redevelopment of Hollywood Park into a master planned residential and entertainment district has transformed central Inglewood into a go to destination. The investment in the city has created thousands of permanent jobs, and has also generated significant demand for new residents, thereby driving growth in property values and rents. The offering is an opportunity for an investor to acquire a well maintained property in a high demand rental location.

FOR SALE DETAILS

PRICE

$1,725,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

6

PRICE/UNIT

$287,500

CAP RATE

5.75%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1989

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

IN R3

APN/PARCEL ID

4017-024-017

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 Policy.