829 S Flower St - Apartments FOR SALE


Inglewood, CA 90301
$1,995,000 USD
310-345-9994
829 S Flower St, Inglewood, CA for Sale
$1,995,000 USD
Apartments - FOR SALE
1/15
null | 6.47% Cap Rate

829 S Flower St
Inglewood, CA 90301


HIGHLIGHTS

  • 3 short blocks to Sofi & Intuit Stadium, Hollywood Park, the Forum, Centinela Hospital. Few Miles to 405,105,90 Fwy, Local Beaches, LAX, SpaceX
  • Upgraded Electrical (Sub Panels and Main Panels), Roof approx 10 yrs old
  • Very stable tenancy. Last vacancy 5 yrs ago, Avg tenant 10 yrs+. City of Inglewood is deed Landlord and Tenant Friendly

OVERVIEW

8 Prime units North Inglewood - On the Market for the 1st time in over 40 years! This asset is a Gem that shouldn't be overlooked. Owned by a former management company/operator that specialized in the city of Inglewood for 40+ years (recently retired). This asset is situated 3 short blocks to the new Sofi & Intuit Stadiums, Hollywood Park Casino, LA Forum, Centinela Hospital, and within a few miles to LAX, SpaceX, California Beaches, + all major freeways (105, 405, 90). Consisting of an outstanding unit mix of Seven: 2 Bedrooms One Bath units and One: (Giant) 3 Bedroom 3 Bath unit, this superior unit mix promotes a very stable tenancy base with 50% of the residents residing on site for over 10 years+ and only 1 vacancy in the last 5 years! The city of Inglewood has its own Rent Registry Department that is deemed by many investors as fair to landlords. Rents that are below predetermined Market Rents can be increased 8.8% annually - see the City of Inglewood Rent Registry Site for more information. Upgrades: New Electrical Panels and Subpanels for all units! Roof is Approx 10 yrs old. Notable Amenities: Private Patio on 3 Bedroom unit, 2 units with outdoor patios/decks, Covered Parking for 8 Cars, MTM Laundry Agreement (upside). Upside: This asset is scheduled to received significant FAA Noise Abatement Upgrades in the near future (date to be determined)

FOR SALE DETAILS

PRICE

$1,995,000 USD

PRICE/SF

$320 USD /SF

# OF UNITS

8

PRICE/UNIT

$249,375

CAP RATE

6.47%

% 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

1960

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

INR3YY

APN/PARCEL ID

4024-005-009

ASK ABOUT THIS PROPERTY

David HolsteinThe Holstein Group Inc.More Info
310-345-9994

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David HolsteinThe Holstein Group Inc.More Info
310-345-9994

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