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Listing 7 out of 11
$1,875,000 For Sale

614 Myrtle Avenue
Inglewood, CA 90301

16 beds | Residential Income
6,538 sq ft - MLS# 19458000
Property Photo
1/5

Description

On the market for the first time in over 25 years this is property is located in a quiet, residential pocket just a few short blocks due west of the new NFL stadium and also walking distance to La Brea, Market St. and downtown Inglewood. Super spacious units with long terms tenants and well below market rents provide a new owner surety of collected rents with lots of upside potential. Built originally as a SFR, it was expanded make the property into a 4-bdrm+2-ba, 1,617sqft owner's unit with 5 units added in 1986 that include a 3+2, 2+1.5 and 3-2+1 units. 12 onsite parking and a small laundry room for tenants convenience. Professionally managed and maintained for years this building is a feather in the cap of the local investor looking to capitalize on the future of the City of Champions. This property is a legal 6-unit currently rented as 7.

Features

  • Property Type: Residential Income
  • Sub Type: Apartment Building
  • Listing Status: Active
  • County/Area: Los Angeles County
  • Zip Code: 90301
  • Year Built: 1957
  • Subdivision/Neighborhood: North Inglewood (101)
  • Sq.Ft.: 6,538 sq ft
  • Stories: 2-Story
  • Bedrooms: 16
  • # of Parking Spaces: 12
  • Zoning: INR3YY
  • Adjusted Gross Income: 126504.00
  • Agent License Number: 01095183
  • Cap Rate: 3.95
  • City Code: 10000059410
  • Expense Total Annual: 49234.00
  • Gross Operating Income: 123341.00
  • Gross Rent Multiplier: 14.82
  • Heating Fuel: Wall Gas
  • Heating Type: Wall Gas
  • Lot Size SQ FT: 9487
  • Lot Size Source: Vendor Enhanced
  • Net Operating Income: 74108.00
  • Number Of Buildings: 1
  • Parking Features: Covered Parking
  • Parking Type: Assigned, Tandem
  • Square Footage Source: Title Company
  • Total Floors: 2
  • Unit Furnished01: Unfurnished
  • Unit Furnished02: Unfurnished
  • Unit Furnished03: Unfurnished
  • Unit Furnished04: Unfurnished
  • Unit Furnished05: Unfurnished
  • Unit Furnished06: Unfurnished
  • Unit Furnished07: Unfurnished
  • Unit Furnished08: Partially
  • Unit Furnished09: Partially
  • Unit Furnished10: Partially
  • Unit Furnished11: Partially
  • Unit Furnished12: Partially
  • Unit Furnished13: Partially
  • Unit Monthly Rent01: 2050.00
  • Unit Monthly Rent02: 1325.00
  • Unit Monthly Rent03: 1800.00
  • Unit Monthly Rent04: 1550.00
  • Unit Monthly Rent05: 1412.00
  • Unit Monthly Rent06: 1255.00
  • Unit Monthly Rent07: 1130.00
  • Unit Number Of Bath01: 2.0
  • Unit Number Of Bath02: 1.5
  • Unit Number Of Bath03: 1.0
  • Unit Number Of Bath05: 1.0
  • Unit Number Of Bath06: 1.0
  • Unit Number Of Bath07: 1.0
  • Unit Number Of Bed01: 3
  • Unit Number Of Bed02: 2
  • Unit Number Of Bed03: 2
  • Unit Number Of Bed04: 2
  • Unit Number Of Bed05: 2
  • Unit Number Of Bed06: 2
  • Unit Number Of Bed07: 1
  • Units In Complex: 6
  • h: 1.0
Courtesy of Goldcoast Commercial Group, Christopher Marsocci (CalBRE: 01095183)


Gail Mercedes Cole (310) 853-9933

The Hills Premier Realty
9595 Wilshire Blvd, Ste #900, Beverly Hills, CA 90212
Beverly Hills, CA 90212

This is not intended as a solicitation of prospective buyers or sellers who already have an exclusive agency agreement with another agent. All information deemed accurate but not guaranteed, CalDRE#00788828
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