746 Cory Drive

Inglewood,CA 90302

$ 1850000

- Bed

0 Bath

6170 SqFt


Key Details

Property Type Single Family Home

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 6,170 sqft

Price per Sqft $299

MLS Listing ID SB-24236205

Year Built 1953

Lot Size 9,645 Sqft

Property Description

PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large One Bedrooms (8) and Two Bedroom One Bath Units (3). Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. This asset is NOT Subject to LA City or LA County Rent Control restrictions. Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters) and Individual Electric Meters. Common area laundry on site (Vender has MTM Agreement). Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single car enclosed garage. Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered. Other recent upgrades: SB 326 Balcony requirements: Inspected and Repairs completed with permits by National Deck. Stairway railings brought up to current code height and spacing requirements. Main Gas Meters updated with Earthquake Shut off Valves - to comply with Insurance Requests.

Location

State CA

County Los Angeles

Zoning INR3YY

Interior

Laundry Common Area,Community

Exterior

Parking Features Gated

Garage Spaces 3.0

Pool None

Community Features Biking,Sidewalks

Building

Lot Description 0-1 Unit/Acre

Sewer Public Sewer

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