Inglewood, CA 90302,746 Cory Drive
Inglewood, CA 90302,746 Cory Drive
Inglewood, CA 90302,746 Cory Drive
Inglewood, CA 90302,746 Cory Drive
Inglewood, CA 90302,746 Cory Drive
Inglewood, CA 90302,746 Cory Drive
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$ 1,850,000
Est. payment | /mo

3 Beds

2 Baths

9,645 Sqft Lot


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$ 1,850,000
Est. payment | /mo
Save

3 Beds

2 Baths

9,645 Sqft Lot

OPEN HOUSE

Wed Dec 04, 12:00pm - 2:00pm

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB24236205

Bedrooms 3

HOA Y/N No

Lot Size 9,645 Sqft

Property Description

PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large One Bedrooms (8) and Two Bedroom One Bath Units (3). Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. This asset is NOT Subject to LA City or LA County Rent Control restrictions. Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters) and Individual Electric Meters. Common area laundry on site (Vender has MTM Agreement). Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single car enclosed garage. Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered. Other recent upgrades: SB 326 Balcony requirements: Inspected and Repairs completed with permits by National Deck. Stairway railings brought up to current code height and spacing requirements. Main Gas Meters updated with Earthquake Shut off Valves - to comply with Insurance Requests.
PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large One Bedrooms (8) and Two Bedroom One Bath Units (3). Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. This asset is NOT Subject to LA City or LA County Rent Control restrictions. Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters) and Individual Electric Meters. Common area laundry on site (Vender has MTM Agreement). Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single car enclosed garage. Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered. Other recent upgrades: SB 326 Balcony requirements: Inspected and Repairs completed with permits by National Deck. Stairway railings brought up to current code height and spacing requirements. Main Gas Meters updated with Earthquake Shut off Valves - to comply with Insurance Requests.

Location

State CA

County Los Angeles

Area Inglewood (90302)

Zoning Assessor

Building

Lot Description Sidewalks

Story 2

Lot Size Range 7500-10889 SF

Others

Monthly Total Fees $174

Acceptable Financing Cash

Space Rent $1,575

Listing Terms Cash

San Diego Regional MLS (SDMLS)
Listed by Rules Manager • The Holstein Group
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+1(619) 349-4945

eric@keyrealtyca.com

401 W A St, San Diego, CA, 92101, USA

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746 Cory Drive