Property Detail

Description

Situated in the southeast quadrant of the City of Inglewood, this well-maintained seven-unit apartment community offers an exceptional investment opportunity in one of Southern California's fastest-growing markets. Ideally located within walking distance of SoFi Stadium (home of the NFL's Rams and Chargers), Intuit Dome (home of the NBA's Clippers), Hollywood Park Casino, and The Forum, the property is surrounded by major employment centers, world-class entertainment, and ongoing redevelopment that continues to drive demand throughout Inglewood. This property offers an outstanding combination of location, unit mix, and long-term stability. The building features a desirable mix of one-, two-, and three-bedroom apartments, along with 14 covered parking spaces. Its highly walkable location provides residents with convenient access to the area's premier sports, entertainment, dining, and retail destinations. Tenant retention is exceptional, with most residents having occupied their units for more than 10 years, reflecting the property's desirability and stable occupancy history. Owned and meticulously maintained by the same owner for more than 23 years, the property has benefited from consistent capital improvements and thoughtful upkeep. Recent upgrades include improvements to the roof, decking, patio areas, and landscaping, helping minimize near-term capital expenditures for a new owner. The building is also separately metered for gas, electricity and hot water, contributing to lower operating expenses and improved management efficiency. Constructed in 1988, the property offers a significant advantage over many older multifamily assets in the area. Its more modern construction means many major building systems—including electrical and plumbing infrastructure—already meet contemporary standards, reducing the likelihood of costly retrofits commonly associated with properties built before 1980. In addition, investors benefit from Inglewood's rent regulations, which differ from those of the City and County of Los Angeles. The property is not subject to Los Angeles City or Los Angeles County rent control ordinances. Instead, it falls under the City of Inglewood's Rent Stabilization Ordinance, which generally permits annual rent increases of up to 8% for qualifying units, subject to the City's current guidelines and applicable thresholds.