530 Venice Way, Inglewood, CA 90302
14 Unit Apartment Building | $3,300,000 ($235,714/Unit) | 7.14% Cap Rate | Inglewood, CA 90302
For Sale
Active
20 pictures
Asking Price $3,300,000
- Property Type
-
Multifamily
- Square Feet
- 10,487 SF
Listing Contacts
Property Overview
The James Group is pleased to present 530 Venice Way, a 14 unit apartment building with excellent cash flow that is ideally situated in northwest Inglewood.
The subject property was built in 1959 and consists of (2) Studio / 1 Bath, (11) 2 Bed / 1 Bath, and (1) 3 Bed / 2 Bath. This is an excellent cash flow opportunity, while still offering upside potential. The building is spread out over 10,487 square feet of gross leasable area and sits on a large 15,138 square foot lot that is zoned INR3YY. There are 12 individual carport parking spaces. The property is very well located in northwest Inglewood, just a short distance to Sofi Stadium, the Intuit Dome, and the Hollywood Park Casino development. The Fox Hills mall is located just to the north providing tenants in this area with plenty of shops, dining, and entertainment.
With it’s excellent cap rate and in place cash flow, the building is well positioned in a market that continues to see new developments and an influx of new businesses and investments that will provide an investor continued rent growth and opportunity.
The subject property was built in 1959 and consists of (2) Studio / 1 Bath, (11) 2 Bed / 1 Bath, and (1) 3 Bed / 2 Bath. This is an excellent cash flow opportunity, while still offering upside potential. The building is spread out over 10,487 square feet of gross leasable area and sits on a large 15,138 square foot lot that is zoned INR3YY. There are 12 individual carport parking spaces. The property is very well located in northwest Inglewood, just a short distance to Sofi Stadium, the Intuit Dome, and the Hollywood Park Casino development. The Fox Hills mall is located just to the north providing tenants in this area with plenty of shops, dining, and entertainment.
With it’s excellent cap rate and in place cash flow, the building is well positioned in a market that continues to see new developments and an influx of new businesses and investments that will provide an investor continued rent growth and opportunity.
Property Details
- Class
- C
- Year Built
- 1959
- Stories
- 2
- Lot Size (sq. ft)
- 15,246 SF
- Units
- 14
Highlights
- Strategically located in northwest Inglewood nearby Sofi Stadium, the Hollywood Park Development, Intuit Dome.
- The offering provides for excellent cash flow with a current cap rate of 7.14% providing for day one cash flow and a great return on equity.
- Attractive unit mix for an owner consisting of (2) Studio/ 1 Bath, (11) 2 Bed / 1 Bath, and (1) 3 Bed / 2 Bath Oversized 15,138 square foot lot.
- Zoned INR3YY with 12 parking spaces.
- Located in close proximity to numerous amenities providing tenants with shops, dining and entertainment venues.
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