746 Cory Drive Pending Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90302
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 6,170 sqft
Price per Sqft $299
MLS Listing ID CRSB24236205
HOA Y/N No
Originating Board Datashare California Regional
Year Built 1953
Lot Size 9,645 Sqft
Property Sub-Type Other
Property Description
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. Stair
Location
State CA
County Los Angeles
Interior
Fireplace No
Laundry Community Facility,Other