$1,595,000
Calculate Payment
433 Venice Way Inglewood, CA 90302
Apartment
Residence
Beds
Baths
...
Bed/Bath
5,060
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
433 Venice Way is a 7-unit Apartment complex that is being sold with significant upside potential due to below market rents. This investment asset is located in the Prime NW Inglewood region of the city of Inglewood. Recent additions to the City of Inglewood include the new Sofi Stadium (NFL - Hom...e to the Chargers and Rams), and the new Intuit Stadium (NBA - Home to the LA Clippers). In addition to these two gigantic venues & the tremendous new retail and high-end housing developments, the City of Inglewood recently upgraded The Forum and Hollywood Park Casino. The accumulation of all these projects has created a massive income growth, employment base, as well as a huge demand for housing throughout the city and surrounding areas.
Although the City of Inglewood has its own rent control division, it is NOT subject to LA City, or LA County RSO. The current annual rent increase potential is 8.9% for qualified rents that are below 80% of FMV and 3.9% for those rents that are above the 80% FMV. Since most of the rents are below this 80% threshold, a new owner could potentially grow their income stream quite rapidly with this investment.
Other benefits and reasons to buy this investment offering:
Electrical: All units have new Electrical Subpanels. Plumbing: Copper Plumbing replaced. Utilities: Individual Hot Water Heaters and Separately Metered for Gas and Electric for each tenant (provides for low cost of ownership). Location: NW Inglewood (highly desired), Unique Character: Some units have oversized windows, vaulted ceilings, balconies, and the asset also benefits from an amazing curb appeal with is unique corner lot. Amenities: Common area Laundry Room with no lease, plus covered parking for all 7 units.
Continue reading
MLS#
SB24123984
Property Type
Apartment
Year Built
1960
Square Feet
5,060
sq. ft
Lot Size
0.16
Sewer
Public Sewer
Receive an email as soon as the price changes
Receive an email
as soon as the price changesGet Price Alerts
Don't miss your chance. Receive an email as soon as the price changes.
Get email alerts when
a home price changes
Sign up
Enter your work address to view actual drive times with traffic for this property.
Walk Score measures the walkability of any address, Transit Score measures access to public transit on a scale of 1-100.
Source: Walk Score®
How much home can I afford?
Kickstart your home search journey with our online Pre-Approval.
Nearby Homes For Sale
Just Listed
And
Homes Available
In
See How Much You Could Save
Thinking about buying or selling? Talk to one of our Mortgage Professionals today to see how much you could save on your next home. Call us at 833-981-2030.