614 Myrtle Avenue

    Inglewood, CA 90301
    • $1,875,000
    • STATUS: Active
    • ON SITE: 226 days
    • ID#: 19458000
    UPDATED: 74 min ago
    $1,875,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 6,538
      SQFT
    • $287
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1957
    County:

    School Ratings & Info

    Description

    On the market for the first time in over 25 years this is property is located in a quiet, residential pocket just a few short blocks due west of the new NFL stadium and also walking distance to La Brea, Market St. and downtown Inglewood. Super spacious units with long terms tenants and well below market rents provide a new owner surety of collected rents with lots of upside potential. Built originally as a SFR, it was expanded make the property into a 4-bdrm+2-ba, 1,617sqft owner's unit with 5 units attached in 1986 that include a 3+2, 2+1.5 and 3-2+1 units. 12 onsite parking and a small laundry room for tenants convenience. Professionally managed and maintained for years this building is a feather in the cap of the local investor looking to capitalize on the future of the City of Champions. This property is a legal 6-unit that has rented as 7 for over 30 years.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-07T08:26:03.407. 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 deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.

    www.gogabby.com/homes/93994004

    614 Myrtle Avenue Inglewood, CA 90301

    • Price: $1,875,000
    • Status: Active
    • Updated: 74 min ago
    • ID#: 19458000
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    6,538
    SQFT
    $287
    $/SQFT
    1957
    Built
    Neighborhood:
    101 - North Inglewood
    County:
    Los Angeles
    Area:
    101 - North Inglewood
    Property Description
    On the market for the first time in over 25 years this is property is located in a quiet, residential pocket just a few short blocks due west of the new NFL stadium and also walking distance to La Brea, Market St. and downtown Inglewood. Super spacious units with long terms tenants and well below market rents provide a new owner surety of collected rents with lots of upside potential. Built originally as a SFR, it was expanded make the property into a 4-bdrm+2-ba, 1,617sqft owner's unit with 5 units attached in 1986 that include a 3+2, 2+1.5 and 3-2+1 units. 12 onsite parking and a small laundry room for tenants convenience. Professionally managed and maintained for years this building is a feather in the cap of the local investor looking to capitalize on the future of the City of Champions. This property is a legal 6-unit that has rented as 7 for over 30 years.
    Exterior Features

    Lot Features Sprinklers None Lot Size Units Square Feet Parking Features AssignedCovered Parking YN Yes

    Interior Features

    Appliances None Appliances YN No Cooling None Cooling YN No Laundry Features None

    Property Features

    Cap Rate 4.32 Gross Multiplier 13.94 Gross Operating Income 131180.00 Improvements Amount 503344 Land Value 321279 Laundry YN No Net Operating Income 81070.00 Special Listing Conditions Standard Total Expenses 50110.00 Zoning Inr3yy

    Listing provided courtesy of Christopher Marsocci of Goldcoast Commercial Group


    Based on information from California Regional Multiple Listing Service, Inc. as of 2019-12-07T08:26:03.407. 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 deemed reliable but is not guaranteed accurate by the MLS or Go Gabby | RE/MAX Estate Properties. Licensed in the State of California, USA.

     
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