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Listed by Michael Maloney - DRE #01487461 - Keller Williams Realty Los Feliz 323-300-1000

$799,000

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2703 79th Street Inglewood, CA 90305

Cluster Residence

2 Beds

2 Baths

1,600 Sq. Ft.

0.15 Acre Lot

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Last updated on 11/15/2024 11:45 PM

Listing Details

Unique opportunity to build 1-2 units (by-right - fully entitled) in hot Morningside area of Inglewood. This is a CA SB - 9 lot division opportunity. Invest in this booming area alongside billions of dollars of new development activity - SOFI Stadium, Intuit Dome, and the Kia Forum. Vacant lot en...titled for either a single-family home (SFR) + and ADU or two-unit duplex (allows 2x800sqft units) 800 sq. ft projected to rent for up to $3,500, implying duplex rents of up to $7,000 per month. No off-street parking required, and no CEQA EIA or hearings required (ministerial approvals) Lots of upside potential, and a great opportunity to earn an outsized return. Build 2 x 800 sq ft duplex (1,600 sq. ft total) for ~$450k all-in, bringing total build (hard costs and soft costs) + land to $800,000 (we can refer you to a prefab builder ready to go at these prices). Imagine - a brand new construction duplex getting $6,000/month in rent for just $800,000 (that's about a 6.75% CAP rate!) - or flip it post-construction for $1.1mm+ Ask us how! Buyer to verify all claims regarding development ability, future values, and income potential. Continue reading

MLS#

24462775

Property Type

Cluster

Status

Bedrooms

Bathrooms

Square Feet

1,600 sq. ft

Lot Size

0.15

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