3940 W 112th St 7 Unit Apartment Building $1,750,000 ($250,000/Unit) 5.37% Cap Rate Inglewood, CA 90303

Situated it the Southeast quadrant of the city of Inglewood and walking distance to Sofi (Chargers & Rams NFL), Intuit (Clippers NBA), Hollywood Park (Casino), Forum (Entertainment Venue), this seven-unit apartment complex is nearby all the new development, employment, entertainment, and sporting arenas benefitting the surrounding cities. This building is the definition of opportunity and growth when it comes to location, unit mix (combination of 1's,2's and 3 bedroom units), covered parking (14 covered spaces) as well as stability (most residents have resided here for 10 years+). The current owner has held this property for 23 years+ and benefitted from consistency of tenancy, rising rents, low operating costs (separately metered for gas and electric - utilities) while billions of dollars in development poured into the local community.
A new investor will also benefit acquiring this unique asset as it was built in 1988. Many structural components with regards to Electrical and Plumbing meet today's standards and don't require significant retrofits as commonly experienced with properties built prior to 1980. Additionally, the Roof, Decking, Patio Areas were also recently upgraded.
The city of Inglewood does not have LA City or LA County rent control restrictions. The City of Inglewood does have their own Rent Stabilization guidelines (see link below) whereas, rents below certain thresholds can be adjusted up to 8% annually.