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4932 W Lennox Blvd
Inglewood, CA 90304
Multifamily Property For Sale
·
8 Units
Investment Highlights
- Over $87,000 in annual rental upside with current rents at $13,355/month versus projected market rents of $20,650/month.
- Currently offered at a cap rate just below 7%, providing strong in-place cash flow from day one.
- Potential to increase NOI by more than 30% through unit turnover and rent repositioning alone.
- Potential to develop up to 4 additional ADUs, creating added income and long-term value. Buyer to verify.
- Currently offered at a GRM below 10, an attractive basis relative to many recent Inglewood sales.
- Priced at just $187,500 per unit, below many recent Inglewood multifamily sales.
Executive Summary
4932 Lennox Blvd presents a value-add investment opportunity in the heart of Inglewood, one of Southern California’s fastest-growing multifamily markets. Situated on an 8,262 SF LCR3YY-zoned lot, the property consists of eight units comprised of (7) 2+1 units and (1) 1+1 unit. The asset offers a combination of strong in-place income, rental upside, and future development potential in a market benefiting from significant ongoing investment.
Current rents remain below market, creating over $87,000 in projected annual rental upside and the opportunity to significantly increase NOI through unit turnover and strategic rent repositioning. Additionally, the property’s existing layout may provide the ability to develop up to four ADUs, offering another avenue to increase income and long-term value. Buyer to verify all development potential with the City of Inglewood.
With over $87,000 in projected rental upside, potential for up to four new ADUs, a projected stabilized cap rate approaching 7%, and a projected GRM below 10, 4932 Lennox Blvd offers investors multiple paths to increase income and create long-term value in one of Los Angeles County’s most active investment markets.
Located just minutes from SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX, the property benefits from strong employment drivers, entertainment demand, and continued economic growth throughout the area.
Current rents remain below market, creating over $87,000 in projected annual rental upside and the opportunity to significantly increase NOI through unit turnover and strategic rent repositioning. Additionally, the property’s existing layout may provide the ability to develop up to four ADUs, offering another avenue to increase income and long-term value. Buyer to verify all development potential with the City of Inglewood.
With over $87,000 in projected rental upside, potential for up to four new ADUs, a projected stabilized cap rate approaching 7%, and a projected GRM below 10, 4932 Lennox Blvd offers investors multiple paths to increase income and create long-term value in one of Los Angeles County’s most active investment markets.
Located just minutes from SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX, the property benefits from strong employment drivers, entertainment demand, and continued economic growth throughout the area.
Property Facts
| Price Per Unit | $187,500 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.85% | Lot Size | 0.19 AC |
| Gross Rent Multiplier | 9.36 | Building Size | 6,836 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Zoning | LCR3YY | ||
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Gross Rent Multiplier | 9.36 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 6,836 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.04/1,000 SF |
| Zoning | LCR3YY |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,259 | - |
| 2+1 | 7 | $1,728 | - |
Property Taxes
| Parcel Number | 4039-024-005 | Improvements Assessment | $711,009 |
| Land Assessment | $700,397 | Total Assessment | $1,411,406 |
Property Taxes
Parcel Number
4039-024-005
Land Assessment
$700,397
Improvements Assessment
$711,009
Total Assessment
$1,411,406
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