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… Read More 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. Read Less
Listing Snapshot
Days Online
3
Last Updated
Beds
10
3/4 Baths
6
Square Ft.
4,214
Lot Size
0.15 Acres
Year Built
1962
MLS Number
26103107
Additional Details
Appliances & Equipment
Microwave
Building
Built in 1962, Living area: 4214.0, 1 building, 2 stories, Levels: Two
Cooling
None
Garage
5 spaces
Heating
WallFurnace
Income
Gross Income: $142,359, Net Operating Income: $90,359
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.
Confirm your time
Fill in your details and we will contact you to confirm a time.
