746 Cory Drive
Inglewood, CA 90302
0.22 acres | #SB24236205
Open Houses
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Description
PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large One Bedrooms (8) and Two Bedroom One Bath Units (3).
Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. This asset is NOT Subject to LA City or LA County Rent Control restrictions.
Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters) and Individual Electric Meters. Common area laundry on site (Vender has MTM Agreement). Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single car enclosed garage.
Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered.
Other recent upgrades:
SB 326 Balcony requirements: Inspected and Repairs completed with permits by National Deck. Stairway railings brought up to current code height and spacing requirements.
Main Gas Meters updated with Earthquake Shut off Valves - to comply with Insurance Requests.
Property Details
- Lot DescriptionZeroToOneUnitAcre
- Stories2
Measurements
- Acres0.2214
Parking
- Parking Spaces3
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1953
Utilities / Energy Details
- Sewer InformationPublicSewer
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,850,000
Other
- MLS #SB24236205
Location
Legal
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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: David Holstein (#SHOLSDAV)
Listing Office: The Holstein Group (#S1013)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
