3501 West 111th Street

Inglewood, CA 90303

$1,390,000
Last Sold Price
7
Beds
6
Baths
4,327 Sq. Ft.
$321 / Sq. Ft.
4,327
Sq. Ft.
$321
per Sq. Ft.

Description

This property boast a large 3 bedroom in the front with an additional four units in the rear of the property . There is roughly 57% upside in NOI and presents an opportunity for a new investor to come in and modernize the units. Ownership did a full renovation back in 2016 but since has been slightly outdated. Quiet residential neighborhood.This property boast a large 3 bedroom in the front with an additional four units in the rear of the property . There is roughly 57% upside in NOI and presents an opportunity for a new investor to come in and modernize the units. Ownership did a full renovation back in 2016 but since has been slightly outdated. Quiet residential neighborhood.
  1. Listed by Jonathan Weir • DRE #02038545 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 3501 West 111th Street

Zoning
INR2YY
Parcel Number
4031009024
Total Units
5.0
Living Area
4327
Source Living Area
Vendor Enhanced
Area
South Inglewood (102)
Vacancy Rate
3%
Lot Size Area
9031

Location

Listing Courtesy of Marcus & Millichap, Jonathan Weir, DRE #02038545

Sold By F C E Realty, Wayne Brown, DRE #00914550

Add your commute
LISTING UPDATED: 04/07/2022 03:34 PM

Property Details for 3501 West 111th Street

StatusSold
MLS #22-119347
Days on Market47
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1959
Lot Size0.21 AC / 9,031 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Jonathan Weir, DRE #02038545

Sold By F C E Realty, Wayne Brown, DRE #00914550

Add your commute

Building Information for 3501 West 111th Street

Stories-Residences-Year Built1959Building Size-Lot Size0.21 AC / 9,031 SF

Payment Calculator

$9,199 per month

30 year fixed, 7.25% Interest

Principal and Interest

$7,586

Property Taxes

$1,613

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 3501 West 111th Street

Community / Development
Community / Development
  • Number Of Units: 5
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 2
  • Type Of Units: 5-Units
Contract Info
Contract Info
  • Probate: No
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $96,437
  • Net Operating Income: $61,770.00
  • Gross Income: $99,420
  • Cap Rate: 4.48%
  • Gross Rent Multiplier: $13.88
  • Total Annual Expense: 37369
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2073
  • Lot Size Square Feet: 9031
Parking Details
Parking Details
  • Parking Garage: Garage - 1 Car
  • Total Parking: 4
  • Parking Features: Garage - Single Door
Interior Features
Interior Features
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Refrigerator, Range/Oven
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-20-2022
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $925.00
  • Unit Actual Rent: $925.00
  • Unit Projected Rent: $1,350.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,050.00
  • Unit Actual Rent: $1,050.00
  • Unit Projected Rent: $1,350.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,995.00
  • Unit Actual Rent: $1,995.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,095.00
  • Unit Actual Rent: $2,095.00
  • Unit Projected Rent: $2,275.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,220.00
  • Unit Actual Rent: $2,200.00
  • Unit Projected Rent: $2,750.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $449,487.00
  • Assessed Improvement Percent: 39.95
  • Assessed Land Value: $675,542.00
  • Assessed Land Percent: 60.05
  • Assessed Total Value: $1,125,029.00

Property History for 3501 West 111th 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 3501 West 111th Street

Taxable ValueLand$1,020,000Additions$398,300Total$1,418,300
Tax Record2023$19,358 ($1,613 / month)
Home Facts
Total Finished SqFt4,327 SqFtAbove Grade Finished SqFt4,327 SqFtLot Size9,031 SqFtStyleMulti-Family Res (5+ Units)Year Built1959ZoningINR2YYCountyLOS ANGELESAPN4031-009-024

Schools near 3501 West 111th Street

This home is within Inglewood Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Charter - K to 8
Rating
School
Distance
Worthington Elementary School
PublicK to 6

Monroe (Albert F.) Middle School
Public6 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.

Similar Homes

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Similar Sold Homes

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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 Marcus & Millichap, Jonathan Weir, DRE #02038545

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.