619 Nectarine St, Inglewood, CA 90301
12 Unit Apartment Building | $2,375,000 ($197,917/Unit) | 6.48% Cap Rate | Inglewood, CA 90301
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,375,000
- Property Type
-
Multifamily
- Square Feet
- 6,560 SF
Listing Contacts
Matt Ziegler
Verified Profile
Tyler Leeson
Verified Profile
Justin Yslas
Verified Profile
- Property Info
Property Overview
Marcus & Millichap is pleased to present 619 Nectarine Street, a 12-unit value-add apartment building located in emerging Inglewood, California. Built in 1940, the property is made up of four separate buildings consisting of (12) one-bedroom/one-bathroom units which sits on a large 0.58 acre lot that is INR2YY zoned. Current rents are approximately 27% under market providing a new investor the opportunity to renovate units and common areas in order to maximize rental income. The property features (12) covered private enclosed garage spaces and additional uncovered parking spaces in the rear of the property. Units feature front and back doors, hardwood floors, W/D hookups, central A/C and heat and newer windows.
619 Nectarine Street is located in Inglewood, California, an area that has seen tremendous growth in the past decade. The property is located within a few miles of several notable recent large development projects such as the refurbished Kia Forum which reopened in 2014, the new Hollywood Park Casino which opened in 2016, SoFi Stadium in which opened in 2020, YouTube Theater which opened in 2021 and Intuit Dome which is scheduled to open later this year. Inglewood is home to the LA Rams, LA Chargers, LA Clippers and will host several matches of the upcoming 2026 FIFA World Cup.
619 Nectarine Street is located in close proximity to grocery stores, restaurants and retail on Market Street in Downtown Inglewood. The property is conveniently located a block west of the 405 freeway and just a short drive to major job centers such as Culver City, Century City, Beverly Hills, Hawthorne and El Segundo. The property is also just 0.7 miles from the Westchester/Veterans Metro K Line Station offering a viable public transportation option to many areas of Los Angeles as well is future connectivity to LAX via rail.
619 Nectarine Street is located in Inglewood, California, an area that has seen tremendous growth in the past decade. The property is located within a few miles of several notable recent large development projects such as the refurbished Kia Forum which reopened in 2014, the new Hollywood Park Casino which opened in 2016, SoFi Stadium in which opened in 2020, YouTube Theater which opened in 2021 and Intuit Dome which is scheduled to open later this year. Inglewood is home to the LA Rams, LA Chargers, LA Clippers and will host several matches of the upcoming 2026 FIFA World Cup.
619 Nectarine Street is located in close proximity to grocery stores, restaurants and retail on Market Street in Downtown Inglewood. The property is conveniently located a block west of the 405 freeway and just a short drive to major job centers such as Culver City, Century City, Beverly Hills, Hawthorne and El Segundo. The property is also just 0.7 miles from the Westchester/Veterans Metro K Line Station offering a viable public transportation option to many areas of Los Angeles as well is future connectivity to LAX via rail.
Property Details
- Class
- C
- Year Built
- 1940
- Stories
- 1
- Lot Size (sq. ft)
- 25,265 SF
- Units
- 12
Highlights
- Value Add Opportunity: 12-units located in emerging Inglewood, California. Current rents are approximately 27% under market providing a new investor
- Property Features: Four separate buildings consisting of (12) one-bedroom/one-bathroom units on a large 0.58 acre lot. Potential to build ADU(s). Th
- Unit Features: Units feature front and back doors, hardwood floors, W/D hookups, central A/C and heat and newer windows
- Emergence of Inglewood: The property is located within a few miles of several notable recent large development projects
- Excellent Central Location: Property conveniently located in northwest Inglewood, situated in a treelined residential neighborhood
- Proximity to Public Transportation – New Metro K Line: The property is also just 0.7 miles from the Westchester/Veterans Metro K Line Station
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