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$ 1,395,000
Est. payment | /mo
10 Beds
6 Baths
4,214 SqFt
$ 1,395,000
Est. payment | /mo
10 Beds
6 Baths
4,214 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 4,214 sqft
Price per Sqft $331
MLS Listing ID 26103107
Bedrooms 10
HOA Y/N No
Year Built 1962
Lot Size 6,337 Sqft
Property Description
We are pleased to present the exclusive offering of 1022 Larch St, a well-maintained 5-unit apartment building located in the heart of Inglewood, California. This offering presents an attractive opportunity to acquire a fully occupied multifamily asset with strong in-place cash flow and compelling investment fundamentals. Constructed in 1962, the property consists of 4,214 square feet of rentable building area situated on a 6,337 square foot lot. The property features a desirable unit mix of one 1-bedroom/1-bathroom unit, three 2-bedroom/1-bathroom units, and one 3-bedroom/1.5-bathroom unit, providing a variety of spacious layouts to accommodate a broad range of tenant needs. The property is well maintained and offers investors the opportunity to acquire an established income-producing asset without the immediate leasing requirements associated with vacant properties. With 100% occupancy, the building provides attractive day-one income and a stable foundation for continued ownership. Additional operational benefits include an on-site laundry facility and five garages, offering convenient amenities for residents while enhancing the property's overall appeal. Offered at $1,395,000, the property generates an attractive 6.48% current capitalization rate and 9.80 gross income multiplier (GIM), with potential to improve performance to a 7.58% pro forma capitalization rate and an 8.77 pro forma GIM. The property also benefits from an existing Ratio Utility Billing System (RUBS), allowing ownership to recover a portion of utility expenses and support net operating income. Ideally located near SoFi Stadium, the Hollywood Park development, the Intuit Dome, and major employment and transportation corridors, the property benefits from its position within one of Southern California's evolving rental markets. The surrounding area continues to attract investment and attention, providing a compelling location for investors seeking exposure to the Inglewood multifamily market. 1022 Larch St represents an excellent opportunity for both first-time multifamily investors and experienced owners seeking a fully occupied, cash-flowing asset with attractive in-place returns, additional pro forma upside, and desirable property amenities.
Location
State CA
County Los Angeles
Area 102 - South Inglewood
Zoning INR3YY
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Appliance Microwave
Exterior
Parking Features Garage
Garage Spaces 5.0
Garage Description 5.0
Total Parking Spaces 5
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4024016019
Special Listing Condition Standard
Listed by John Katnik BRC Advisors- BH #02002695
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