2414 W 85th Street,Inglewood, CA 90305
Inglewood, CA 90305
Description
$150K PRICE REDUCTION! We are pleased to present the exclusive offering of 2414 W 85th St, a charming value-add apartment community located in one of Inglewood's most desirable residential neighborhoods. This asset represents a rare opportunity to acquire a well-maintained 5-unit apartment building with significant rental upside just east of SoFi Stadium and the Hollywood Park development. Originally constructed in 1947, the property consists of approximately 3,866 rentable square feet situated on a 6,902 square foot lot. The building features timeless architectural character, highlighted by its attractive brick faade, large bay windows, and charming curb appeal that distinguishes it from many competing multifamily properties in the area. Current ownership has completed numerous capital improvements throughout the property, including upgraded electrical systems, newer triple pane windows, central heating and air conditioning in every unit, individual water heaters, and compliance with California's SB 721 balcony inspection requirements. The property is individually metered for gas and electricity, minimizing owner utility expenses. The property consists of five units, including two singles, one one-bedroom unit, and two two-bedroom units. One of the two-bedroom units will be delivered vacant at the close of escrow, providing an investor with an immediate opportunity to renovate and lease the unit at market rent. Additionally, all five detached garages located off the alley will be delivered vacant at closing, offering additional income potential through garage rentals or ADU potential (Buyer to Verify). The asset currently operates at a 4.45% cap rate with substantial upside to a projected 8.24% cap rate through the implementation of market rents. Positioned in one of Southern California's most dynamic rental markets, 2414 W 85th St offers investors stable in-place income, exceptional value-add potential, and long-term appreciation in one of Inglewood's strongest residential neighborhoods.
Details
| MLS # | 26873277 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1947 |
| Days On Site | 70 |
| Listing Provided By | BRC Advisors- BH | John Katnik |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 5 |
| SQ Feet | 3,866 |
| Garage | 5 |
| Story(s) | 2 |
| Units | 5 |
| Building(s) | 1 |
| Zoning | INR3YY |
| Acreage | 0.16 |
Interior
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Window Features | Bay Windows |
| Fireplace Yes / No | Yes |
Parking
| Attached Garage Yes / No | No |
|---|---|
| Garage Yes / No | Yes |
Area Information
| State | CA |
|---|---|
| County | Los Angeles |
| City | Inglewood |
| Zip Code | 90305 |
| Area | 101 North Inglewood |
| Listing VS Median (in 90305) | |
Price: $1,200,000 low | high Med: $799,500 sqft: 3,866 low | high Med: 3,023 $ / sqft: $310 low | high Med: $289 On site: 70 low | high Med: 105 | |
Market Activity 90305
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Inglewood |
| Zip Code | 90305 |
| Area | 101 North Inglewood |
| Listing VS Median (in 90305) | |
Price: $1,200,000 low | high Med: $799,500 sqft: 3,866 low | high Med: 3,023 $ / sqft: $310 low | high Med: $289 On site: 70 low | high Med: 105 | |
