119 N Cedar Ave
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119 N Cedar Ave
7 Unit Apartment Building $1,799,000 ($257,000/Unit) 3.61% Cap Rate Inglewood, CA 90301
Investment Highlights
- Heavy rental upside
- Gated secure parking
- Huge, oversized units
- Close to SoFi Stadium and LA Metro expansion
Executive Summary
Legacy property, prized 7-unit apartment building in the bustling city of Inglewood. Owner by the same family for 45+ years. Located within steps to the LA Metro rail line expansion, and all the high-demand amenities that Inglewood offers. Close distance to SoFi Stadium, Kia Forum, Intuit Dome, Hollywood Park, and too much more to name. Huge units, with plenty of upside potential. Nearly 9000 sf total building size, with the 2 bedroom units ~1150 sf each, and 3 bedroom unit at over ~1600 sf. Rarely will you find an apartment building with such large units, and great unit mix. Long-term tenants in place. Gated parking area plus a garage. Some sources show 11,052 GBA, some show 8,945. Seller unaware of which is accurate. There are also discrepancies in bedroom/bathroom count. Buyer to verify all information contained herein.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,799,000 | Apartment Style | Low Rise |
| Price Per Unit | $257,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 3.61% | Building Size | 8,945 SF |
| Gross Rent Multiplier | 16.87 | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Price | $1,799,000 |
| Price Per Unit | $257,000 |
| Sale Type | Investment |
| Cap Rate | 3.61% |
| Gross Rent Multiplier | 16.87 |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 8,945 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 0.63/1,000 SF |
Unit Amenities
- Balcony
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Family Room
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 6 | $1,605 | 1,179 - 1,468 |
| 3+3 | 1 | $2,000 | 1,634 |
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Walk Score ®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | 4018-010-006 | Total Assessment | $2,050,581 (2024) |
| Land Assessment | $1,503,761 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $546,820 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
4018-010-006
Land Assessment
$1,503,761 (2024)
Improvements Assessment
$546,820 (2024)
Total Assessment
$2,050,581 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | INR4* |
| INR4* |
-
Rodman Amiri -
Merit Real Estate
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119 N Cedar Ave
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