517 Evergreen St - Apartments FOR SALE


Inglewood, CA 90302
$4,095,000 USD
424-405-3826
517 Evergreen St, Inglewood, CA for Sale
$4,095,000 USD
Apartments - FOR SALE
1/8
null | 4.48% Cap Rate

517 Evergreen St
Inglewood, CA 90302


HIGHLIGHTS

  • Excellent Opportunity to Acquire a 13-Unit Apartment Building With a Competitive Amenities Package in Inglewood’s Desirable Centinela Heights
  • Mix Of 1 Studio, 1 1BD/1BA Unit, 6 Oversized 1BD/1BA Units With Dens, And 5 2BD/2BA Units
  • Potential to Develop 3 ADU’s (Buyer to Verify)
  • 18% Upside in Current Rents
  • Amenities Include a Pool, On-Site Laundry, Tuck-Under and Garage Parking, and Controlled Access
  • Strong Rental Location Conveniently Near Retail and the 405

OVERVIEW

Marcus & Millichap is pleased to present to market 517 Evergreen Street, a 13-unit apartment building in Inglewood, California. This offering presents a great opportunity for an investor to acquire an asset with a strong unit mix, great Centinela Heights location, and potential to add value by developing three ADU’s (buyer to verify) and capturing 18 percent upside in current rents. 517 Evergreen Street is a 1962 construction with a desirable mix of one studio, one standard one-bed/one-bath unit, six oversized one-bed/one-bath units with dens, and five two-bedroom/two-bath units. An investor could potentially develop two studio ADU’s and one one-bed/one-bath ADU (buyer to verify). The property boasts an amenities package that includes a pool, on-site laundry, ample covered parking, controlled access, and attractive landscaping. This asset is located in Inglewood’s desirable Centinela Heights neighborhood near the intersection of Centinela Avenue and La Cienega Boulevard. Tenants enjoy easy walking distance to a Smart & Final Grocery Store and convenient proximity to numerous retailers, including Ralphs, Bath & Body Works, Chipotle, Yogurtland, Ross Dress for Less, Panda Express, Chick-Fil-A, CVS, Marshalls, and many others. Furthermore, the 405 Freeway is just a mile away, making this an excellent rental option for commuters.

FOR SALE DETAILS

PRICE

$4,095,000 USD

PRICE/SF

$339 USD /SF

# OF UNITS

13

PRICE/UNIT

$315,000

CAP RATE

4.48%

% 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

1962

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

15,011 SF

ZONING

R3, Inglewood

APN/PARCEL ID

4017-002-037

ASK ABOUT THIS PROPERTY

Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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Steve BogoyevacMarcus & MillichapMore Info
424-405-3826

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