Sold
Listed By:
Robert Stepp with Keller Williams - Santa Monica;
Sold By:
KW Advisors
Address
946 950 W Beach Avenue, Inglewood, CA
Price
$ 6,400,000
Property Attributes
  • MLS#PW23048120
  • TypeMulti-Family
  • CountyLOS ANGELES
  • CityInglewood
  • Zip90302
  • Style
  • Price$ 6,400,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage21420
  • Lot Size0.5742 Acres
Data Source:
California Regional MLS (CRMLS)
Property Description

946-950 Beach Avenue is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013-square-foot lot, the property offers a desirable mix of sizable units: sixteen (16) three-bedrooms and (2) two-bedrooms. Fourteen (14) units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. Two (2) units are partially renovated with new floors. In-unit washer/dryers have been installed in eight units. The property also provides onsite laundry facilities and 27 secured parking spaces. Seismic retrofitting has been completed and new roofs were installed on both buildings in 2022. This asset is offered with an interest-only 3.650% assumable loan. The new owner will be able to take advantage of the value-add opportunity in renovating the remaining units. The property offers significant rental upside potential of approximately 12% .

Price History
3/27/2023 Listed $7,185,000
7/7/2023 7% - $6,700,000

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Multi-Family Average in 90302

Price
AVG $1.65M
$6.4M