$5,850,000
$6,150,000
4.9%For more information regarding the value of a property, please contact us for a free consultation.
0.51 Acres Lot
SOLD DATE : 12/24/2020
Key Details
Sold Price $5,850,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB20187131
Sold Date 12/24/20
HOA Y/N No
Year Built 1966
Lot Size 0.510 Acres
Acres 0.51
Property Description
The Briarcliff Apartments are located in the incredibly red-hot Inglewood rental market. This 22-unit property features projected rental upside of over 42% +/-, and offers a terrific opportunity for today’s discerning and keen apartment investor. Sitting on a large 22,415 square foot lot on one of the best streets in Inglewood, the property has 17,448 rentable square feet. The building has an incredibly attractive unit mix of Five - 3 bed/2 Bath units, Eleven - 2 Bed/2 Bath unit, and Six - 1 Bed /1 Bath units.The property also has ample onsite parking with 33 covered parking spots. There is also a sparkling community pool and an outdoor patio area for tenants to relax, cool off and enjoy the sun. There is onsite laundry for the tenant’s convenience as well (leased) and the grounds are well-maintained with pleasant landscaping throughout. The property is an all-electric building. The units are individually metered for electricity and each unit has its own electric water heater. Additionally, each large kitchen has a dishwasher and several units have private balconies. The property is located just a few short minutes away from the $5 Billion NFL SoFi Stadium/Hollywood Park development, future Clippers Arena, and the brand-new downtown Inglewood metro station! Investment opportunities like this one are rare!
Location
State CA
County Los Angeles
Area 699 - Not Defined
Zoning INR4*
Rooms
Ensuite Laundry Common Area
Interior
Laundry Location Common Area
Fireplace No
Laundry Common Area
Exterior
Garage Covered
Pool Community, In Ground
Community Features Sidewalks, Urban, Pool
Parking Type Covered
Total Parking Spaces 33
Private Pool No
Building
Lot Description 21-25 Units/Acre
Story Two
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4020007041
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Josh Cohen • Keller Williams Beach Cities