Listed By:
Giovanni Mejia with First Team Real Estate; 949-292-9764
701 S Grevillea Avenue, Inglewood, CA
$ 2,199,000
Property Attributes
  • MLS#OC23024051
  • TypeIncome
  • CityInglewood
  • AreaSouth Inglewood
  • Zip90301
  • StyleBungalow
  • Price$ 2,199,000
  • Bedrooms11
  • Full Bathrooms11
  • Half Bathrooms0
  • Sqr Footage8102
  • Lot Size9,592 SqFt
Data Source:
California Regional MLS (CRMLS)
Property Description

A Fantastic Investment Opportunity to own a 2 story, 7 unit apartment complex with a great unit mix consisting of (1) 3 bedrooms-3 baths, (2) 2 bedrooms-2 baths, and (4) 1 bedroom-1 bath units. This apartment building is centrally located near the LAX airport, Sofi Stadium, West Los Angeles, the South Bay and local beaches. The building is well laid out and also features 11 carport parking spaces that are larger than normal. The complex also generates additional income from an onsite laundry room and rented parking spaces. This property offers a huge upside in rents. Property is being sold “as is” and with no warranties or guarantees. Cap rate is based on pro-forma rents. Please do not disturb tenants. Property will only be shown with an accepted offer.

Price History
2/11/2023 Listed $2,560,000
5/4/2023 7% - $2,399,000
5/20/2023 9% - $2,199,000

General Features

Accessibility Parking, Accessible Doors
Appliances Dishwasher, Electric Oven, Electric Range, Water Heater
Architectural Style Bungalow
Building Area Units Square Feet
Cap Rate 5.66
Carport Spaces 10
Carport Y/N Yes
City Inglewood
Community Features Curbs, Park, Storm Drain(s), Street Lights, Suburban, Sidewalks
Construction Materials Block, Drywall, Stone, Stucco, Wood Siding
Contingency No Showings prior to accepted offer. Property is Sold AS IS with no warranties or guarantees. This is a Trust, not a Probate. Buyer and buyers agent to verify all listed information. Information is
Cooling Central Air
County Los Angeles
Current Financing Other
Directions Exit W Century Blvd. & Head East to S Grevillea, turn left & head North for 4 1/2 Blocks -Subject on the left.
Disclosures Rent Control
Electric Electricity - On Property
Electric Expense 1723
Entry Location Gate
Facing Direction East
Gross Income 182530
Heating Central
Insurance Expense 5472
Interior Features Storage
Levels Two
Listing Agent Giovanni Mejia - BRE#01200885
Listing Agent State License 01200885
Listing Terms Cash, Cash to New Loan
Lot Size Square Feet 9592
MLS Area 102 - South Inglewood
Maintenanceexpense 1485
Net Operating Income 124503
Number of Units Leased 6
Operating Expense 52372
Pool Features None
Possession Close Of Escrow
Property Attached Y/N Yes
Property Condition Repairs Cosmetic
Property Sub Type Additional Apartment
Property SubType Apartment
Property Type Residential Income
Rent Control Y/N Yes
Roof Composition
Senior Community Y/N No
Sewer Public Sewer
Spa Features None
Special Listing Conditions Standard, Trust
Standard Status Active
Status Active
Stories 2
Street Name Grevillea
Tax Lot 11
Taxes 30751
Tenant Pays Electricity, Telephone
Total Actual Rent 6
Total Units 7
Trash Expense 3368
Utilities Cable Available, Electricity Available, Phone Available, Sewer Connected, Water Connected
View None
Water Sewer Expense 3039
Year Built 1963
Year Built Source Public Records
Zoning INR3YY

Interior Features

Air Conditioning Y/N Yes
Common Walls 2+ Common Walls
Entry Level 1
Flooring Carpet, Vinyl
Heating Y/N Yes
Laundry Features Common Area, Inside, Laundry Room
Street Suffix Avenue
Total Stories 2
Window Features Double Pane Windows

Exterior Features

Buyer Agent Compensation 2.500
Buyer Agent Compensation Type %
Building Area Total 8102
Fencing Block, Good Condition
Foundation Details Slab
Lot Dimensions 50' x 191'
Lot Features Front Yard, Lawn, Landscaped, Level, Rectangular Lot, Street Level
Lot Size Acres 0.2202
Lot Size Area 9592
Lot Size Source Assessor
Lot Size Units Square Feet
Lotdimensionssource Public Records
Number of Buildings 1
Number of Separate Electric Meters 7
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Parking Features Assigned, Concrete, Carport, Electric Gate, Gated, Oversized, Side By Side
Road Frontage Type City Street
Road Surface Type Alley Paved, Paved
Total Parking 10
Water Source Public

Room Details

Room Dimensions Level Flooring Details
Family Room


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90301

AVG $3.09M
AVG 37
Year Built
AVG 1956

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.