946 West Beach Avenue

Inglewood, CA 90302

$7,200,000
Price
8
Beds
5
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Property Details for 946 West Beach Avenue

StatusActive
MLS #PW19205801
Year Built1963
DOM77
Compass TypeTownhouse
MLS TypeResidential Income
Lot Size0.57 AC / 25,014 SF
Taxes-
Condo/Co-op Fees-
HOA Fees-
CountyLos Angeles County

Listing Agent

Robert Stepp

Keller Williams Pacific Estate

rstepp@steppcommercial.com

P: 310.774.3740

M: 310.463.2916

DRE #01456379

Contact Agent(s)

Property Details for 946 West Beach Avenue

Parking Spaces Total
27
Private Pool
No

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 16 three-bedroom and 2 two-bedroom units, as well as onsite laundry facilities and ample parking of 27 spaces. Twelve of the 18 units are fully renovated, including new flooring, modern kitchens and baths, and upgraded fixtures throughout. Potential buyers will see the additional value-add opportunity in renovating the... remaining six units. The property is located in Inglewood, one of the most exciting markets in California. Inglewood is home to the brand new $4.5 billion, 70,000-seat NFL stadium currently under construction; a proposed arena for the LA Clippers NBA team; and the massive 238-acre Hollywood Park Development, which will feature 2,500 units of housing, 620,000 square feet of retail space and a 300-room luxury hotel. Local property values have increased by 37% since 2016 and the city continues to be a desirable rental and investment location. 946-950 Beach Avenue presents an attractive opportunity for an investor to own a partially renovated asset with upside still remaining in one of the fastest growing markets in Los Angeles.

Location

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

Building Information for 946 West Beach Avenue

Stories2Residences-Year Built1963Building Size-Lot Size0.57 AC / 25,014 SF

Payment Calculator

$25,897 per month

30 year fixed, 3.51% Interest

Principal and Interest

$25,897

Property Taxes

HOA Dues

$0

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Property Information for 946 West Beach Avenue

Property Features
    Interior Features
  • Common Walls: 2+ Common Walls
  • Laundry: Yes
  • Laundry Features: Common Area
  • Levels: Two
    Exterior Features
  • Pool Features: None
    Parking Info
  • Garage Spaces: 27
  • Parking: Yes
  • Parking Features: Subterranean
    Water Details
  • Water Source: Public
Property / Structure Info
    Property / Structure Info
  • New Construction: No
  • Parcel Number: 4017005038
  • Property Type: Residential Income
  • Stories Total: 2
  • Year Built: 1963
  • Year Built Source: Assessor
    Measurements / Dimensions
  • Building Area Total: 21420
  • Building Area Units: Square Feet
Community/Development / Location Info
    School/Location Info
  • County Or Parish: Los Angeles
  • Directions: LA Cienega Blvd & Centinela Ave
  • MLS Area Major: North Inglewood (101)
    Association Information
  • Community Features: Curbs, Street Lights, Urban
  • Senior Community: No
Income / Expense / Tax / Assessment Details
    Tax / Assessment Info
  • Tax Census Tract: 6013.03
  • Tax Lot: 215
  • Tax Tract Number: 6013
  • Zoning: INR3YY
    Income Details
  • Gross Income: $468,270
  • Gross Scheduled Income: $492,916
  • Net Operating Income: $243,785
    Expense Details
  • Electric Expense: $8,556
  • Fuel Expense: $8,556
  • Insurance Expense: $8,295
  • Licenses Expense: $900
  • Maintenance Expense: $28,000
  • New Taxes Expense: $97,995
  • Operating Expense: $224,485
  • Other Expense: $8,039
  • Other Expense Description: Reserves
  • Pest Control Expense: $1,500
  • Professional Management Expense: $43,731
  • Total Expenses: $224,485
  • Trash Expense: $8,556
  • Water Sewer Expense: $8,556
  • Gardener Expense: $1,800
Unit Information
    Multi-Unit Info
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 18
  • Number Of Separate Gas Meters: 18
  • Number Of Separate Water Meters: 1
  • Average Studio Area Units: Square Feet
  • Average 1 Bed Area Units: Square Feet
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
Rental Info
    Rental Info
  • Rent Controlled: Yes
Land/Lot Info
    Land/Lot Info
  • Land Lease: No
  • Lot Features: 16-20 Units/Acre
  • Lot Size Acres: .57
  • Lot Size Source: Assessor
  • Lot Size Square Feet: 25014
  • Lot Size Units: Square Feet
  • Sewer: Public Sewer

Property History for 946 West Beach Avenue

DateEvent & SourcePriceAppreciation
Aug 28, 2019Listed (Active)

CRMLS #PW19205801

$7,200,000
Aug 28, 2019Listed (Active)

SDMLS #PW19205801

$7,200,000
Sep 30, 2016Sold (Public Records)

Public Record #580031769

$4,475,000
DateEvent & SourcePrice
08/28/2019
Listed (Active)

CRMLS #PW19205801

$7,200,000
08/28/2019
Listed (Active)

SDMLS #PW19205801

$7,200,000
09/30/2016
Sold (Public Records)

Public Record #580031769

$4,475,000

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

Public Records for 946 West Beach Avenue

Taxable ValueLand$2,733,600Additions$1,830,944Total$4,564,544
Tax Record2018$63,736
Home Facts
Beds52Finished Sq.Ft.21,420 SqFtLot Size25,014 SqFtStyleMulti-Family Res (5+ Units)Year Built1963ZoningINR3YYCountyLOS ANGELESAPN4017005038

Schools near 946 West Beach Avenue

AllElementaryMiddleHigh
SchoolTypeGradesDistanceRating
The University of Children SchoolPrivateK-50.1 mi
NR
La Tijera SchoolCharterK-80.4 mi
4
Wilder's Preparatory Academy Charter MiddleCharter6-80.5 mi
9
Wilder's Preparatory Academy CharterCharterK-50.5 mi
9

The University of Children School

K-5, 0.1 mi, Private

NR

La Tijera School

K-8, 0.4 mi, Charter

4

Wilder's Preparatory Academy Charter Middle

6-8, 0.5 mi, Charter

9

Wilder's Preparatory Academy Charter

K-5, 0.5 mi, Charter

9

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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946 West Beach Avenue is a townhouse for sale in Inglewood, CA 90302. This property was listed for sale on August 28, 2019 by Keller Williams Pacific Estate at $7,200,000. It has been on the market for a total of 77 days and was last sold on September 30, 2016. Nearby schools include The University of Children School, Icef Inglewood Elementary Charter Academy and Wilder's Preparatory Academy Charter Middle. 946 West Beach Avenue is a 8-bed, 5-bath, townhouse built in 1963.

All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.
Listing Courtesy of Keller Williams Pacific Estate, Robert Stepp, DRE #01456379; Keller Williams-Santa Monica, Mark Witsken, DRE #01884724
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