940 Larch Street

Inglewood, CA 90301

$5,199,000
Price
23
Beds
18
Baths
12,665 Sq. Ft.
$411 / Sq. Ft.
12,665
Sq. Ft.
$411
per Sq. Ft.

Description

A value-add, 18 unit investment in a location 'on the come'.... in the shadow SoFi Stadium, America's highest grossing concert venue in 2023. Grossing $175MM and also employing 2,600 event day employees. SoFi is next door to the West Coast Headquarters of the NFL - 1,000 local employees and $20B in 2023 revenue. Next to that, the YouTube Theater - and The Forum, 5 minutes to the North and the new, $2B Intuit Dome, 5 minutes to the South. Lastly, the subject property is a block from Centinela Hospital,...A value-add, 18 unit investment in a location 'on the come'.... in the shadow SoFi Stadium, America's highest grossing concert venue in 2023. Grossing $175MM and also employing 2,600 event day employees. SoFi is next door to the West Coast Headquarters of the NFL - 1,000 local employees and $20B in 2023 revenue. Next to that, the YouTube Theater - and The Forum, 5 minutes to the North and the new, $2B Intuit Dome, 5 minutes to the South. Lastly, the subject property is a block from Centinela Hospital, with 1,332 employees. Forgot to mention, the 57,000 badge holders at LAX, nearby, as well. The building has a secured-access, renovated lobby, leading to a landscaped courtyard. In addition, there are newer windows throughout. Secured-access, carport parking, in rear. Thirteen 1s, Five 2s, 13K sq. ft. on a massive, 18K+ footprint. 5% cap from the jump. The building is a 'No Brainer' operationally and affords you a path toward a 6.5% market cap rate. Exclusively listed at $5,199,000.
  1. Listed by Brice Head • DRE #01330706 • Brokerage DRE #00868409 • CBRE, Inc.

Property Details for 940 Larch Street

Zoning
INR3YY
Parcel Number
4024015026
Total Units
18.0
Living Area
12665
Source Living Area
Vendor Enhanced
Area
South Inglewood (102)
Vacancy Rate
0
Lot Size Area
18389

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute
LISTING UPDATED: 04/16/2024 12:01 AM

Property Details for 940 Larch Street

StatusActive
MLS #24-379261
Days on Market54
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.42 AC / 18,389 SF
CountyLos Angeles County

Location

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706
Add your commute

Building Information for 940 Larch Street

Stories-Residences-Year Built1959Building Size-Lot Size0.42 AC / 18,389 SF

Payment Calculator

$31,158 per month

30 year fixed, 7.25% Interest

Principal and Interest

$28,373

Property Taxes

$2,785

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 940 Larch Street

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Residential
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $393,650
  • Net Operating Income: $250,859.00
  • Gross Income: $405,732
  • Gross Rent Multiplier: $12.81
  • Total Annual Expense: 142791
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.4222
  • Lot Size Square Feet: 18389
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 0
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-11-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,765.20
  • Unit Actual Rent: $22,948.00
  • Unit Projected Rent: $28,600.00
  • Like Units: 13
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,122.50
  • Unit Actual Rent: $10,612.00
  • Unit Projected Rent: $12,500.00
  • Like Units: 5
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $705,044.00
  • Assessed Improvement Percent: 30.0
  • Assessed Land Value: $1,645,115.00
  • Assessed Land Percent: 70
  • Assessed Total Value: $2,350,159.00

Property History for 940 Larch Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 940 Larch Street

Taxable ValueLand$1,645,115Additions$706,644Total$2,351,759
Tax Record2023$33,425 ($2,785 / month)
Home Facts
Total Finished SqFt12,665 SqFtAbove Grade Finished SqFt12,665 SqFtLot Size18,384 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningINR3YYCountyLOS ANGELESAPN4024-015-026

Schools near 940 Larch Street

This home is within Inglewood Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 8
Public - 7 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Payne (Beulah) Elementary School
PublicK to 8

Crozier (George W.) Middle School
Public7 to 8

Morningside High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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940 Larch Street is a multi-family home for sale in Inglewood, CA 90301. This property was listed for sale on April 8, 2024 by CBRE, Inc., it's currently listed at $5,199,000. It has been on the market for a total of 54 days and was last sold on July 19, 2006. This listing's school district is Inglewood Unified School District. Nearby schools include Payne (Beulah) Elementary School, Crozier (George W.) Middle School and Morningside High School. 940 Larch Street is a 23-bed, 18-bath, 12,665 sqft multi-family home built in 1959.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CBRE, Inc., Brice Head, DRE #01330706

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.