Address
701 S Grevillea Avenue, Inglewood, CA
Price
$ 2,199,000
Property Attributes
- MLS#OC23024051
- TypeIncome
- CountyLOS ANGELES
- 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 âas isâ 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 |
|---|---|---|---|---|
| Entry/Foyer | ||||
| Family Room | ||||
| Kitchen |
Amenities
- 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
Price
Visits
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of September 25, 2023 6:07 AM UTC This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
The MLS™ Combined LA/Westside MLS® (CLAW): All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
