919 S Prairie Ave - Apartments FOR SALE


Inglewood, CA 90301
$13,900,000 USD
949-241-6562
919 S Prairie Ave, Inglewood, CA for Sale
$13,900,000 USD
Apartments - FOR SALE
1/16
null | 5.7% Cap Rate

919 S Prairie Ave
Inglewood, CA 90301


OVERVIEW

Fully remodeled 50-Unit multifamily building comprising of 2x 1-bedroom apartments and 48x large and uniquely laid out studios all with full-sized kitchens, full closets and bathrooms located directly in front of Sofi Stadium and the 300-Acre, $10 Billion dollar mega development! - Assumable $2.8MM 3.75% interest rate loan fixed through 2030 and seller financing available in second position -An extensive top to bottom $2MM remodel undertaken in 2021 - $350K plumbing remodel. All new copper plumbing from city meter back, including new individual unit shutoffs for all units, new shower valves for all units, news toilets & tubs for all news, new boiler, all new traps for all units and new sewer horizontals -Every windows in building changed to double-paned, tempered vinyl windows -Full building stucco and paint, with smooth-finish stucco in front -New code controlled access car & pedestrian gates - 24/7 night-vision cameras throughout -47 of 50 units fully remodeled with new quartz countertop and real plywood cabinet kitchens, LVP flooring, stainless steel sinks, new tile and tubs, new fixtures, outlets, baseboards, paint! - Exterior includes new mailboxes, light fixtures, landscaping, deck refresh throughout -All units fully wired internally with Spectrum CAT 6 wiring, offering revenue share income to owner and high speed internet for tenants to pay for without any external wiring! -Full onsite laundry with only mobile phone pay -50 parking spaces, fully gated and covered -Extreme rent demand. Operating at nearly 0% historical vacancy with waitlist and low delinquency rates. Strong rent roll with qualified tenants -Prime location directly on the transforming and high vehicle per day Prairie Avenue. Located directly across from Sofi Stadium/Hollywood Park $10 Billion mega development, including 900,000 sq. ft. of luxury retail. Located near Intuit Dome, the Forum, Downtown Inglewood, and LAX/Hawthorne Airports

FOR SALE DETAILS

PRICE

$13,900,000 USD

PRICE/SF

$527 USD /SF

# OF UNITS

50

PRICE/UNIT

$278,000

CAP RATE

5.7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Stadium View Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1959

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.71 AC

LAND SF

30,928 SF

ZONING

C2, Inglewood

APN/PARCEL ID

4024-008-020

ASK ABOUT THIS PROPERTY

Bryan RussoRusso CompanyMore Info
949-241-6562

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Bryan RussoRusso CompanyMore Info
949-241-6562

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