$4,965,000
$5,220,000
4.9%For more information regarding the value of a property, please contact us for a free consultation.
0.4 Acres Lot
SOLD DATE : 12/24/2020
Key Details
Sold Price $4,965,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB20187158
Sold Date 12/24/20
HOA Y/N No
Year Built 1963
Lot Size 0.400 Acres
Acres 0.4
Property Description
The Royal Palms Apartments are located at 441 and 437 Queen Street in Inglewood, CA. This 18-unit property features projected rental upside of close to 50% +/-, and offers a terrific opportunity for today’s discerning and keen apartment investor. Sitting on a large 17,211 square foot lot on one of the best streets in Inglewood, the property has an incredible 23,513 of rentable space. The building has an exceptionally attractive unit mix of mostly large two and three bedroom units. Many of the units have both showers and a separate bathtub. Additionally, many of the units are townhouse style with two levels of living area.The property also has ample onsite parking with 40+ covered parking spots. There is onsite laundry for the tenant’s convenience as well (leased). Half of the property is an all-electric building with separate electric meters and the other has individual gas and electric meters. During the few days of the year heat is required, the units feature either radiant (all electric) or forced air heat. Additionally, each large kitchen has a dishwasher and units have private balconies, some with more than one. Each building has a secure storage area that previously was plumbed a bathroom. The property is located just a few short minutes away from the $5 Billion NFL SoFi Stadium/Hollywood Park development, the incoming 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
Heating Radiant
Fireplace No
Laundry Common Area
Exterior
Garage Covered
Pool None
Community Features Urban
Parking Type Covered
Total Parking Spaces 40
Private Pool No
Building
Lot Description 16-20 Units/Acre
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4020007076
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