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11 Unit Bungalow Style Units in Inglewood! 949 N Cedar St 11 Unit Apartment Building $3,100,000 ($281,818/Unit) 5.23% Cap Rate Inglewood, CA 90302
Investment Highlights
- Rare Bungalow-Style Apartment Community – 949 N Cedar St consists of 11 units spread across seven separate structures!
- Strong In-Place Cash Flow with Rental Upside – The asset is 100% occupied with stable tenants and solid existing income with upside!
- Prime North Inglewood Location – Located just off Centinela Ave, the property benefits from strong tenant demand and close access to SoFi Stadium!
- Massive 27,744 SF Lot – The property sits on an oversized parcel, providing significant intrinsic land value and long-term investment appeal!
- Excellent Tenant Amenities – All units feature in-unit W/D hookups, while each 2-bedroom unit includes a private one-car garage and one open space!
Executive Summary
John Katnik of BRC Advisors is pleased to present the exclusive offering of 949 N Cedar St, a rare multifamily investment opportunity located in the highly desirable North Inglewood submarket.
The property consists of 11 bungalow-style units spread across seven separate structures on an expansive 27,744 square foot lot. Originally constructed in 1948, the property features ten spacious 2-bedroom/1-bath units and one non-conforming 1-bedroom/1-bath unit, creating a unique low-density apartment community rarely found in today's market.
A major amenity of the property is its abundant parking and resident-friendly unit features. Each 2-bedroom unit includes a private one-car garage along with an additional open parking space directly behind the garage. The property also features ample additional open parking throughout the rear of the lot. Additionally, all units are equipped with in-unit washer and dryer hookups, a highly desirable amenity that continues to drive tenant demand and retention.
Situated in a prime North Inglewood location just off Centinela Avenue, the property benefits from convenient access to major employment centers, transportation corridors, and Inglewood's ongoing redevelopment.
The property consists of 11 bungalow-style units spread across seven separate structures on an expansive 27,744 square foot lot. Originally constructed in 1948, the property features ten spacious 2-bedroom/1-bath units and one non-conforming 1-bedroom/1-bath unit, creating a unique low-density apartment community rarely found in today's market.
A major amenity of the property is its abundant parking and resident-friendly unit features. Each 2-bedroom unit includes a private one-car garage along with an additional open parking space directly behind the garage. The property also features ample additional open parking throughout the rear of the lot. Additionally, all units are equipped with in-unit washer and dryer hookups, a highly desirable amenity that continues to drive tenant demand and retention.
Situated in a prime North Inglewood location just off Centinela Avenue, the property benefits from convenient access to major employment centers, transportation corridors, and Inglewood's ongoing redevelopment.
Financial Summary (Actual - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$270,753
|
$31.19
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$8,123
|
$0.94
|
| Effective Gross Income |
$262,630
|
$30.25
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$100,498
|
$11.58
|
| Net Operating Income |
$162,132
|
$18.68
|
Financial Summary (Actual - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $270,753 |
| Annual Per SF | $31.19 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $8,123 |
| Annual Per SF | $0.94 |
| Effective Gross Income | |
|---|---|
| Annual | $262,630 |
| Annual Per SF | $30.25 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $100,498 |
| Annual Per SF | $11.58 |
| Net Operating Income | |
|---|---|
| Annual | $162,132 |
| Annual Per SF | $18.68 |
Property Facts
| Price | $3,100,000 | Apartment Style | Garden |
| Price Per Unit | $281,818 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.64 AC |
| Cap Rate | 5.23% | Building Size | 8,681 SF |
| Gross Rent Multiplier | 11.45 | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 2.76/1,000 SF |
| Zoning | P1, Inglewood | ||
| Price | $3,100,000 |
| Price Per Unit | $281,818 |
| Sale Type | Investment |
| Cap Rate | 5.23% |
| Gross Rent Multiplier | 11.45 |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.64 AC |
| Building Size | 8,681 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1946 |
| Parking Ratio | 2.76/1,000 SF |
| Zoning | P1, Inglewood |
Amenities
Unit Amenities
- Washer/Dryer Hookup
- Kitchen
- Oven
- Yard
- Lawn
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,692 | 600 |
| 2+1 | 10 | $2,187 | 800 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 4017-005-030 | Improvements Assessment | $955,087 (2025) |
| Land Assessment | $2,334,657 (2025) | Total Assessment | $3,289,744 (2025) |
Property Taxes
Parcel Number
4017-005-030
Land Assessment
$2,334,657 (2025)
Improvements Assessment
$955,087 (2025)
Total Assessment
$3,289,744 (2025)
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11 Unit Bungalow Style Units in Inglewood! | 949 N Cedar St