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,… Read More 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. Read Less
Listing Snapshot
Days Online
3
Last Updated
Beds
8
3/4 Baths
7
Square Ft.
4,895
Lot Size
0.17 Acres
Year Built
1963
MLS Number
26103106
Additional Details
Appliances & Equipment
Microwave
Building
Built in 1963, Living area: 4895.0, 1 building, 2 stories, Levels: Two
Cooling
CentralAir
Heating
Central
Income
Gross Income: $137,035, Net Operating Income: $86,534
Laundry
CommonArea
Lot
0.1735 acres
Parking
8 total parking spaces, Carport, DoorMulti, Garage
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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