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$ 1,350,000
Est. payment | /mo
8 Beds
7 Baths
4,895 SqFt
$ 1,350,000
Est. payment | /mo
8 Beds
7 Baths
4,895 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,895 sqft
Price per Sqft $275
MLS Listing ID 26103106
Bedrooms 8
HOA Y/N No
Year Built 1963
Lot Size 7,557 Sqft
Property Description
We are pleased to present the exclusive offering of 515 S Grevillea Ave, a well-maintained 5-unit apartment building located in the heart of Inglewood, California. This offering presents an attractive opportunity to acquire a clean, well-maintained multifamily asset with strong in-place cash flow and compelling investment fundamentals. Constructed in 1963, the property consists of 4,895 square feet of rentable building area situated on a 7,557 square foot lot. The property features a desirable unit mix of two 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and two 2-bedroom/2-bathroom units, offering a variety of layouts to appeal to a broad tenant base. The property stands out for its spacious units, overall condition, and history of meaningful capital improvements. Approximately 10 years ago, several major upgrades were completed, including electrical improvements, copper plumbing, vinyl windows, heating and air conditioning units, and a new roof. Combined with the property's ongoing maintenance and various interior upgrades, these improvements provide a solid foundation for continued ownership while helping minimize the need for immediate major capital expenditures. Offered at $1,350,000, the property delivers an attractive 6.41% current capitalization rate and 9.85 gross income multiplier (GIM), with upside to a 7.48% pro forma capitalization rate and 8.84 pro forma GIM. This combination of strong day-one cash flow and additional income potential makes the property particularly appealing to investors seeking an income-producing asset with an accessible entry point into the Los Angeles multifamily market. Additional highlights include five covered carport spaces and three single-car garages, providing a total of eight parking spaces for the five-unit property. There is an on-site laundry room as well. Ideally situated near SoFi Stadium, the Hollywood Park development, the Intuit Dome, and major employment and transportation corridors, the property benefits from its location within one of Southern California's evolving rental markets. 515 S Grevillea Ave represents an excellent opportunity for both first-time multifamily investors and experienced owners seeking a straightforward, cash-flowing investment with an established history of capital improvements, desirable unit layouts, and additional potential to enhance returns over time.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Interior
Heating Central
Cooling Central Air
Fireplace No
Appliance Microwave
Laundry Common Area
Exterior
Parking Features Carport, Door-Multi, Garage
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4020028029
Special Listing Condition Standard
Listed by John Katnik BRC Advisors- BH #02002695
NEARBY SCHOOL & BUSINESS