517 Evergreen St
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517 Evergreen St
13 Unit Apartment Building $4,095,000 ($315,000/Unit) 4.48% Cap Rate Inglewood, CA 90302
Investment Highlights
- Excellent Opportunity to Acquire a 13-Unit Apartment Building With a Competitive Amenities Package in Inglewood’s Desirable Centinela Heights
- Potential to Develop 3 ADU’s (Buyer to Verify)
- Amenities Include a Pool, On-Site Laundry, Tuck-Under and Garage Parking, and Controlled Access
- Mix Of 1 Studio, 1 1BD/1BA Unit, 6 Oversized 1BD/1BA Units With Dens, And 5 2BD/2BA Units
- 18% Upside in Current Rents
- Strong Rental Location Conveniently Near Retail and the 405
Executive Summary
Marcus & Millichap is pleased to present to market 517 Evergreen Street, a 13-unit apartment building in Inglewood, California. This offering presents a great opportunity for an investor to acquire an asset with a strong unit mix, great Centinela Heights location, and potential to add value by developing three ADU’s (buyer to verify) and capturing 18 percent upside in current rents.
517 Evergreen Street is a 1962 construction with a desirable mix of one studio, one standard one-bed/one-bath unit, six oversized one-bed/one-bath units with dens, and five two-bedroom/two-bath units. An investor could potentially develop two studio ADU’s and one one-bed/one-bath ADU (buyer to verify). The property boasts an amenities package that includes a pool, on-site laundry, ample covered parking, controlled access, and attractive landscaping.
This asset is located in Inglewood’s desirable Centinela Heights neighborhood near the intersection of Centinela Avenue and La Cienega Boulevard. Tenants enjoy easy walking distance to a Smart & Final Grocery Store and convenient proximity to numerous retailers, including Ralphs, Bath & Body Works, Chipotle, Yogurtland, Ross Dress for Less, Panda Express, Chick-Fil-A, CVS, Marshalls, and many others. Furthermore, the 405 Freeway is just a mile away, making this an excellent rental option for commuters.
517 Evergreen Street is a 1962 construction with a desirable mix of one studio, one standard one-bed/one-bath unit, six oversized one-bed/one-bath units with dens, and five two-bedroom/two-bath units. An investor could potentially develop two studio ADU’s and one one-bed/one-bath ADU (buyer to verify). The property boasts an amenities package that includes a pool, on-site laundry, ample covered parking, controlled access, and attractive landscaping.
This asset is located in Inglewood’s desirable Centinela Heights neighborhood near the intersection of Centinela Avenue and La Cienega Boulevard. Tenants enjoy easy walking distance to a Smart & Final Grocery Store and convenient proximity to numerous retailers, including Ralphs, Bath & Body Works, Chipotle, Yogurtland, Ross Dress for Less, Panda Express, Chick-Fil-A, CVS, Marshalls, and many others. Furthermore, the 405 Freeway is just a mile away, making this an excellent rental option for commuters.
Property Facts
| Price | $4,095,000 | Apartment Style | Low Rise |
| Price Per Unit | $315,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 4.48% | Building Size | 12,088 SF |
| Gross Rent Multiplier | 13.27 | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment |
| Price | $4,095,000 |
| Price Per Unit | $315,000 |
| Sale Type | Investment |
| Cap Rate | 4.48% |
| Gross Rent Multiplier | 13.27 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 12,088 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
Unit Amenities
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 450 |
| 1+1 | 8 | - | 700 |
| 2+1 | 4 | - | 1,050 |
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Walk Score®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 4017-002-037 | Improvements Assessment | $1,192,784 |
| Land Assessment | $1,786,390 | Total Assessment | $2,979,174 |
PROPERTY TAXES
Parcel Number
4017-002-037
Land Assessment
$1,786,390
Improvements Assessment
$1,192,784
Total Assessment
$2,979,174
zoning
| Zoning Code | R3, Inglewood |
| R3, Inglewood |
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517 Evergreen St
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