$911,000
$799,000
14.0%For more information regarding the value of a property, please contact us for a free consultation.
5 Beds
2 Baths
1,979 SqFt
SOLD DATE : 08/27/2024
Key Details
Sold Price $911,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,979 sqft
Price per Sqft $460
MLS Listing ID 24417163
Sold Date 08/27/24
Bedrooms 5
Construction Status Additions/Alterations,Fixer,Repairs Cosmetic
HOA Y/N No
Year Built 1923
Lot Size 7,431 Sqft
Property Description
Here's what makes this move-in fixer worth the investment. One, it's a duplex, and both units will be delivered vacant, which is a huge and rare benefit. Due to rent control and just-cause evictions, vacating units can be nearly impossible or extremely costly. The vacant units also mean you can choose your tenants and set market rents. The Front unit has 2 beds and one bath, with a projected rent of $2,850. The rear unit has 3 beds and one bath, with a projected rent of $3,200. Total projected rent: $6,050. Use the rental income from the second unit to qualify for more financing or offset your mortgage payment. The lot size, at about 7,500 square feet, represents some of the biggest residential lots in Inglewood, which means more construction possibilities. The detached units offer privacy to each resident. The property also uniquely has a detached garage, which could be turned into an ADU, for a total of three detached units. Each unit could have its private yard space for maximum rentability. The property is in Fairview Heights, one of Inglewood's most desirable and priciest neighborhoods. It's about 15 minutes away from Playa Vista. It's within walking distance of a train station, which will soon connect you to LAX. Hollywood Park and Sofi's entertainment is close enough to enjoy and far enough to avoid noise and congestion. You're also seconds away from North Park, an intimate neighborhood park with picnic tables, restrooms, and three tennis courts. The property needs updating. Sold as-is. But for the right buyer, the investment is worth it. First showing Sunday, July 21.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR2YY
Interior
Heating None
Cooling None
Fireplaces Type None
Fireplace No
Laundry Inside, In Garage
Exterior
Garage Converted Garage, Covered, Driveway
Pool None
Roof Type Shingle
Total Parking Spaces 5
Private Pool No
Building
Lot Description Front Yard, Value In Land
Entry Level One
Architectural Style Tudor
Level or Stories One
New Construction No
Construction Status Additions/Alterations,Fixer,Repairs Cosmetic
Others
Senior Community No
Tax ID 4014016024
Financing Cash,Conventional,FHA
Special Listing Condition Standard
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