712 West Beach Avenue

Inglewood, CA 90302

$1,900,000
Price
13
Beds
7
Baths
5,891 Sq. Ft.
$323 / Sq. Ft.
5,891
Sq. Ft.
$323
per Sq. Ft.

Description

Invest in inglewood's renaissance! We are pleased to present this 6-unit apartment building near the KIA Forum, SoFi Stadium, YouTube Theater, Hollywood Park, and the soon-to-be-completed Intuit Dome. Located in Inglewood's Art District, this property presents an excellent investment opportunity for new and experienced real estate investors and exchange buyers alike. Its convenient location in the heart of Inglewood's growth puts it in high demand, offering the potential for steadily increasing rental...Invest in inglewood's renaissance! We are pleased to present this 6-unit apartment building near the KIA Forum, SoFi Stadium, YouTube Theater, Hollywood Park, and the soon-to-be-completed Intuit Dome. Located in Inglewood's Art District, this property presents an excellent investment opportunity for new and experienced real estate investors and exchange buyers alike. Its convenient location in the heart of Inglewood's growth puts it in high demand, offering the potential for steadily increasing rental income and future appreciation. The building features a mix of one 3+2 unit and five 2+1 units, maximizing rental income. The property is well-maintained, with nearly 50% of the units being partially or fully renovated, and attracts a diverse tenant base and caters to a wide range of tenant preferences. Well-qualified buyers can take advantage of favorable financing terms with an assumable loan (approximate balance of $1.115M, fixed at 4.01% until January 2027), subject to lender fees and approval. Unit #4 is currently vacant, with a conservatively projected rent of $2,100 per month included in the provided rent roll. This represents an immediate opportunity to increase the property's cash flow upon acquisition. Annual parking income is $4,500 for 6+ spaces. Don't miss out on this exceptional investment opportunity in Inglewood's thriving market.
  1. Listed by Austin Chen • DRE #01898306 • Brokerage DRE #01425795 • Keller Williams Beverly Hills

Property Details for 712 West Beach Avenue

Zoning
INR3YY
Style
Contemporary
Parcel Number
4017025006
Total Units
6.0
Living Area
5891
Source Living Area
Assessor
Area
North Inglewood (101)
Vacancy Rate
1 unit

Location

Listing Courtesy of Keller Williams Beverly Hills, Austin Chen, DRE #01898306
Add your commute
LISTING UPDATED: 04/20/2024 07:42 AM

Property Details for 712 West Beach Avenue

StatusPending
MLS #24-374545
Days on Market3
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1960
Lot Size0.18 AC / 7,907 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Beverly Hills, Austin Chen, DRE #01898306
Add your commute

Building Information for 712 West Beach Avenue

Stories2Residences-Year Built1960Building Size-Lot Size0.18 AC / 7,907 SF

Payment Calculator

$11,629 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,369

Property Taxes

$1,260

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 712 West Beach Avenue

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 1
  • Type Of Units: Apartments
  • View: No
  • View Description: None
  • View: None
  • Property Condition: Updated/Remodeled
Contract Info
Contract Info
  • Financing: Assumed, Cash, Cash To Existing Loan
  • Disclosures: As Is, City Inspection Required, LA/Owner Related, Rent Control, Property Assessments Unknown
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $150,307
  • Net Operating Income: $97,700.00
  • Gross Income: $150,317
  • Cap Rate: 5.14%
  • Gross Rent Multiplier: $12.64
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 52607
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1815
  • Lot Size Square Feet: 7907
Parking Details
Parking Details
  • Parking Garage: Carport Detached, Driveway, Uncovered, Assigned
  • Total Parking: 6
  • Parking Features: Detached Carport, Driveway, Uncovered, Assigned
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: Ceiling Fan, Refrigerator, Range/Oven, Hood Fan
  • Interior Features: Ceiling Fan(s)
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Tennis: No
  • Tennis Court: None
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-08-2024
  • Rent Control: Yes
  • Rent Control: 100
Unit Details
Unit 1 Information
  • Unit Beds: 3
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $2,589.60
  • Unit Actual Rent: $31,075.00
  • Unit Projected Rent: $3,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,946.20
  • Unit Actual Rent: $23,355.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,946.20
  • Unit Actual Rent: $23,355.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,100.00
  • Unit Actual Rent: $25,200.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,972.20
  • Unit Actual Rent: $23,666.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,972.20
  • Unit Actual Rent: $23,666.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $223,865.00
  • Assessed Improvement Percent: 21.11
  • Assessed Land Value: $836,560.00
  • Assessed Land Percent: 78.89
  • Assessed Total Value: $1,060,425.00

Property History for 712 West Beach Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 712 West Beach Avenue

Taxable ValueLand$836,560Additions$228,115Total$1,064,675
Tax Record2023$15,115 ($1,260 / month)
Home Facts
Total Finished SqFt5,891 SqFtAbove Grade Finished SqFt5,891 SqFtLot Size7,905 SqFtStyleMulti-Family Res (5+ Units)Year Built1960ZoningINR3YYCountyLOS ANGELESAPN4017-025-006

Schools near 712 West Beach Avenue

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

Parent (Frank D.) Elementary School
PublicK to 8

Inglewood 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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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 Keller Williams Beverly Hills, Austin Chen, DRE #01898306

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.