746 Cory Drive, Inglewood, CA 90302
-
Listed Price :
$1,850,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1953
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.
Interior Features
| Laundry Information |
| Location(s) |
Common Area |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
746 Cory Drive |
| City |
Inglewood |
| State |
CA |
| Zip |
90302 |
| County |
Los Angeles |
| Listing Agent |
David Holstein DRE #01210777 |
| Courtesy Of |
The Holstein Group |
| List Price |
$1,850,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
9,645 |
| Year Built |
1953 |
Listing information courtesy of: David Holstein, The Holstein Group. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 21st, 2024 at 8:41 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
