720 N Market St - Apartments FOR SALE


Inglewood, CA 90302
$5,500,000 USD
562-225-3811
720 N Market St, Inglewood, CA for Sale
$5,500,000 USD
Apartments - FOR SALE
1/14
null | 5.19% Cap Rate

720 N Market St
Inglewood, CA 90302


HIGHLIGHTS

  • NEWLY IMPROVED PRICING — Now representing an exceptional value in one of LA County's strongest performing multifamily submarkets
  • ALLOWABLE RENT INCREASES READY TO EXECUTE — The owner has rent increases prepared under Inglewood's Housing Protection Ordinance
  • $748,600 IMPROVEMENTS — New roof, copper repipe, new HVAC, solar panels, 88 new windows, and full interior remodel on all 16 units
  • STRONG IN-PLACE INCOME WITH DOCUMENTED UPSIDE — 17% increase in net operating income with no additional capital required
  • LOCATION — 100% occupied, 1.5 miles from SoFi Stadium, 0.9 miles to the Metro K Line, and positioned directly in the path of the 2028 Olympics

OVERVIEW

720 N. Market Street in the growing North Inglewood sub market of Los Angeles. This 16-unit multifamily asset represents a compelling opportunity to acquire a fully renovated, turnkey property with strong in-place cash flow and operational stability. This unique property has undergone major capital improvements in recent years, and is a standout in the neighborhood. Renovations include; new solar panels, all 16 units remodeled, 88 windows replaced, electrical panel upgraded, 16 sub-panels upgraded, 16 Nest thermostats, Copper re-pipe of entire building, new roof, new HVAC system, security system and gated entry.? With approximately $750,000 already invested in this property, new ownership can be confident in their operations and the longevity of the asset. Located within walking distance to the new Metro Purple line, this property is strategically located for both tenants that commute and those that work in Los Angeles and the South Bay. Within a 5 mile radius employers include; LAX Airport, SpceX, Intuit Dome, KIA Forum, SoFi stadium, Northrop Grumman, Kaiser Permanente and multiple hospitals.? The location of this asset cannot be overlooked, with major employers nearby and the ongoing development happening in Inglewood, this asset is truly positioned in a growing market now, and in the future.? With the upcoming FIFA World Cup and the 2028 Olympic Games, 720 N Market St is located in a market that will likely reach new heights.? An investor has the chance to own an already well performing asset, in a growing market, where cash flow is consistent from day one with a high potential of capital growth and increased monthly cash flow.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$395 USD /SF

# OF UNITS

16

PRICE/UNIT

$343,750

CAP RATE

5.19%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1964

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

R3, Inglewood

APN/PARCEL ID

4016-010-002

ASK ABOUT THIS PROPERTY

Ryan RayburnCentennial AdvisersMore Info
562-225-3811

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Ryan RayburnCentennial AdvisersMore Info
562-225-3811

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