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720 N Market

Inglewood, CA 90302

$5,500,000 $23,188/Mo

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Overview

Bed

Bath

0.29

Acre(Lot)

Description

720 N Market Street in the growing North Inglewood sub market of Los Angeles. This 16-unit multifamily asset represents a compelling opportunity to acquire a fully renovated, turnkey property with strong in-place cash flow and operational stability. This unique property has undergone major capital improvements in recent years, and is a standout in the neighborhood. Renovations include; new solar panels, all 16 units remodeled, 88 windows replaced, electrical panel upgraded, 16 sub-panels upgraded, 16 Nest thermostats, Copper re-pipe of entire building, new roof, new HVAC system, security system and gated entry. With approximately $750,000 already invested in this property, new ownership can be confident in their operations and the longevity of the asset. Located within walking distance to the new Metro Purple line, this property is strategically located for both tenants that commute and those that work in Los Angeles and the South Bay. Within a 5 mile radius employers include; LAX Airport, SpceX, Intuit Dome, KIA Forum, SoFi stadium, Northrop Grumman, Kaiser Permanente and multiple hospitals. The location of this asset cannot be overlooked, with major employers nearby and the ongoing development happening in Inglewood, this asset is truly positioned in a growing market now, and in the future. With the upcoming FIFA World Cup and the 2028 Olympic Games, 720 N Market St is located in a market that will likely reach new heights. An investor has the chance to own an already well performing asset, in a growing market, where cash flow is consistent from day one with a high potential of capital growth and increased monthly cash flow.

Property Details

Property Type : ResidentialIncome

Price : $5,500,000

AD Id : 79666915

MLS Id : PW26117557

Beds : 24

Lot Size : 0.29 Acre

Year Built : 1964

Garage : 16

County : Los Angeles

Map

What's Nearby

Nearby Areas

Features

Interior Features

Balcony, Storage, Unfurnished

Roof: Composition

Appliances: GasCooktop, Microwave, SolarHotWater

Laundry Features: CommonArea

Window Features: DoublePaneWindows
Heating & Cooling

Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: CentralAir

Building Information

Year Built: 1964

Building Area Total: 13918

Construction Materials: CopperPlumbing

Stories: 2

Pool Features: None

Private Pool: No

Lot Information

Main Square Feet: 0.29 Lot Size Acres: 0.29 Lot Size Source: Assessor Lot Size Square Feet: 12,632 Lot Description: SixteenToTwentyUnitsAcre

Listing Price Information

Listing Price: $5500000

Original Price: $5700000

Exchange1031

Tax Information

Parcel Number: 4016010002 Tax Lot: 12

Virtual Tour

Virtual Tour (External Link)

Parking Information

Parking Total: 16 Assigned, Storage

Garage Information

Has Garage: Yes Garage Space: 16

Utility Information

CableAvailable, ElectricityAvailable, NaturalGasAvailable, PhoneAvailable, SewerConnected, WaterConnected
Location Information

Direction: From Florance go North on La Brea Ave. Right on E Hyde Park Blvd. Left on to Market St. WaterSource: Public Security Features: FireDetectionSystem,FireSprinklerSystem,SecurityGate,ResidentManager,SmokeDetectors

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