116 S Fir Ave - Apartments FOR SALE


Inglewood, CA 90301
$1,550,000 USD
909-559-0815
116 S Fir Ave, Inglewood, CA for Sale
$1,550,000 USD
Apartments - FOR SALE
1/10
null | 6.62% Cap Rate

116 S Fir Ave
Inglewood, CA 90301


HIGHLIGHTS

  • Indivudual Meters
  • Great Cap Rate
  • SB721 Retrofit completed

OVERVIEW

Located in the heart of Inglewood, this highly desirable property with a great unit mix of 6 generously proportioned apartments includes one (1) one-bedroom /one-bath unit, four (4) two-bedrooms/one bath units and one (1) three-bedrooms/2 baths unit. Held and meticulously maintained by the same family since 1977, this attractive building with a strong rental history and large upside potential features ample tuck-under and carport parking perfect for converting into additional ADUs. Drought tolerant landscaping, separate laundry facility, and one completely renovated 2 bedroom unit with new appliances, countertops, fixtures and engineered wood flooring are also present in this complex. An added bonus is SB 721 balcony retrofit has already been completed! This property’s strategic location in the “City of Champions” offers quick and easy access to shopping, dining, and the nearby iconic sports and entertainment venues: Kia Forum, SoFi Stadium, YouTube Theatre, and the Beckman YOLA Center. Transportation is a breeze with hubs like LAX and the Florence/La Brea Metro Station only a few short miles away. Significant to know, the building is not in the LAX flight path. Additionally, Cozier Middle School, City Honors International Preparatory School, and Inglewood High School are all within blocks of this property. With a high demand for housing in the area, this property affords an excellent income-generating opportunity and is a wise investment for both the experienced investor looking to expand their portfolio or add additional units, and the first-time investor interested in generating passive income.

FOR SALE DETAILS

PRICE

$1,550,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

8

PRICE/UNIT

$193,750

CAP RATE

6.62%

% 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

1963

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,209 SF

ZONING

INCC*

APN/PARCEL ID

4020-024-015

ASK ABOUT THIS PROPERTY

Jessie RodriguezJessie Rodriguez and AssociatesMore Info
909-559-0815

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Jessie RodriguezJessie Rodriguez and AssociatesMore Info
909-559-0815

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