$1,850,000
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746 Cory Drive Inglewood, CA 90302
Apartment
Residence
Beds
Baths
6,170
Sq. Ft.
0.22
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
Saves
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.
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MLS#
SB24236205
Property Type
Apartment
Status
Active Under Contract
Year Built
1953
Square Feet
6,170
sq. ft
Lot Size
0.22
Sewer
Public Sewer
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