3864 Inglewood Blvd
Los Angeles, CA 90066
Multifamily Property For Sale · 10 Units
EXECUTIVE SUMMARY
- Renovated 10-unit, 2-story apartment building in West Los Angeles with 15 parking spaces—updated with brand-new plumbing, electrical and windows
- In-place cap rate of 5.64%, with below market assumable financing at 3.35% fixed for the next two years, providing an investor with positive leverage and immediate cash-on-cash of 5.70%
- Consistent unit mix of 10 one-bedroom floorplans, with one unit boasting its own private terrace
- An astute buyer can capture additional upside by adding 2 ADUs in the existing parking lot
- All units are equipped with newly refinished hardwood floors, large closets, wall HVAC, stainless steel appliances, updated bath and kitchens, and in-unit washers and dryers
- Submarket occupancy averaged 96.6% over the past five years
- Submarket asking rents expected to rise 21% over the next two years
- The average household income within a three-mile radius is $164,324
- Surrounded by known tech hubs of Culver City and the “Silicon Beach” cities of Santa Monica, Venice and Playa Vista
- Direct access to shopping and dining destinations in Los Angeles, from world renowned Abbot Kinney in Venice and Century City Westfield Mall to nearby Brentwood and Santa Monica
- Los Angeles’s job market will increase by 34.6% over next ten years
- Within a three-mile radius of the property, the population is 284,646 and expected to grow over 2.2% over the next five years
- In-place cap rate of 5.64%, with below market assumable financing at 3.35% fixed for the next two years, providing an investor with positive leverage and immediate cash-on-cash of 5.70%
- Consistent unit mix of 10 one-bedroom floorplans, with one unit boasting its own private terrace
- An astute buyer can capture additional upside by adding 2 ADUs in the existing parking lot
- All units are equipped with newly refinished hardwood floors, large closets, wall HVAC, stainless steel appliances, updated bath and kitchens, and in-unit washers and dryers
- Submarket occupancy averaged 96.6% over the past five years
- Submarket asking rents expected to rise 21% over the next two years
- The average household income within a three-mile radius is $164,324
- Surrounded by known tech hubs of Culver City and the “Silicon Beach” cities of Santa Monica, Venice and Playa Vista
- Direct access to shopping and dining destinations in Los Angeles, from world renowned Abbot Kinney in Venice and Century City Westfield Mall to nearby Brentwood and Santa Monica
- Los Angeles’s job market will increase by 34.6% over next ten years
- Within a three-mile radius of the property, the population is 284,646 and expected to grow over 2.2% over the next five years
PROPERTY FACTS
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,680 SF |
| Average Occupancy | 10% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 2.82/1,000 SF |
UNIT AMENITIES
- Washer/Dryer
- Hardwood Floors
- Stainless Steel Appliances
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
PROPERTY TAXES
| Parcel Number | 4214-022-021 | Improvements Assessment | $716,315 |
| Land Assessment | $2,865,261 | Total Assessment | $3,581,576 |
ZONING
| Zoning Code | LAR3 (LAR3) |
