946-950 West Beach Avenue

Inglewood, CA 90302

$6,400,000
Last Sold Price
5
Beds
34
Baths
21,420 Sq. Ft.
$299 / Sq. Ft.
21,420
Sq. Ft.
$299
per Sq. Ft.

Description

946-950 Beach Avenue is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013-square-foot lot, the property offers a desirable mix of sizable units: sixteen (16) three-bedrooms and (2) two-bedrooms. Fourteen (14) units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. Two (2) units are partially renovated with new floors. In-unit washer/dryers have been installed in eight units. The property also provides...946-950 Beach Avenue is an 18-unit multifamily asset located in rapidly developing Inglewood, California. Situated on a 25,013-square-foot lot, the property offers a desirable mix of sizable units: sixteen (16) three-bedrooms and (2) two-bedrooms. Fourteen (14) units are fully renovated with new flooring, modern kitchens and baths, and upgraded fixtures throughout. Two (2) units are partially renovated with new floors. In-unit washer/dryers have been installed in eight units. The property also provides onsite laundry facilities and 27 secured parking spaces. Seismic retrofitting has been completed and new roofs were installed on both buildings in 2022. This asset is offered with an interest-only 3.650% assumable loan. The new owner will be able to take advantage of the value-add opportunity in renovating the remaining units. The property offers significant rental upside potential of approximately 12% .
  1. Listed by Robert Stepp • DRE #01456379 • Brokerage DRE #01499010 • Keller Williams - Santa Monica • 310-463-2916
  2. Listed by Mark Witsken • DRE #01884724 • Brokerage DRE #01499010 • KW Advisors

Property Details for 946-950 West Beach Avenue

Parking Spaces Total
27
Private Pool
No
Total Units
18.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
21420
Assessor Parcel Number
4017-005-038
Property Attached YN
true

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379; KW Advisors, Mark Witsken, DRE #01884724

Sold By KW Advisors, Mark Witsken, DRE #01884724

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LISTING UPDATED: 12/26/2023 09:12 AM

Property Details for 946-950 West Beach Avenue

StatusClosed
MLS #PW23048120
Days on Market249
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMixed Use
MLS TypeResidential Income
Year Built1963
Lot Size0.57 AC / 25,014 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379; KW Advisors, Mark Witsken, DRE #01884724

Sold By KW Advisors, Mark Witsken, DRE #01884724

Add your commute

Building Information for 946-950 West Beach Avenue

Stories-Residences-Year Built1963Building Size-Lot Size0.57 AC / 25,014 SF

Payment Calculator

$34,927 per month

30 year fixed, 7.25% Interest

Principal and Interest

$34,927

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 946-950 West Beach Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $552,492
  • Gross Scheduled Income: $569,579
  • Net Operating Income: $342,254
  • Financing: Cash
Expense Details
  • Operating Expense: $210,238
  • New Taxes Expense: $89,636
  • Fuel Expense: $8,692
  • Licenses Expense: $1,259
  • Electric Expense: $8,692
  • Insurance Expense: $16,065
  • Maintenance Expense: $27,914
  • Professional Management Expense: $33,097
  • Other Expense: $4,500
  • Other Expense Description: Reserves
  • Trash Expense: $8,692
  • Water Sewer Expense: $8,692
  • Total Expenses: $210,238
Tax / Assessment Info
  • Tax Tract Number: 6013
  • Tax Census Tract: 6013.03
  • Tax Lot: 215
Community / Development
Community / Development
  • Community Features: Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Inside
Exterior Features
  • Pool Features: None
  • Pool Description: None
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 18
  • Land Lease: No
  • Land Lease Type: Fee
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 27
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 3
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $2,662
  • Unit Type Total Rent: $42,592
  • Unit Type Pro Forma: 2945
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,968
  • Unit Type Total Rent: $3,936
  • Unit Type Pro Forma: 2495
  • Unit Type Type: 2
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 19
  • Number Of Separate Gas Meters: 19
  • Number Of Separate Water Meters: 1

Property History for 946-950 West Beach Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Schools near 946-950 West Beach Avenue

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

Inglewood High School
Public9 to 12

Wilder's Preparatory Academy Charter
CharterK to 5

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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Listing Courtesy of Keller Williams - Santa Monica, Robert Stepp, DRE #01456379; KW Advisors, Mark Witsken, DRE #01884724

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.