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633 W Olive Street

Inglewood, CA 90301
  • $900,000
  • STATUS: CONTINGENT
  • ON SITE: 78 Days
  • ID#: SB21173674
Under Contract
UPDATED: 34 min ago
$900,000
  • 4
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Triplex, located in one of the most desirable neighborhoods of Inglewood. This value-add opportunity has over over 35% upside in monthly rental income. Property is separately metered for ALL utilities including water. Olive is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage! This spacious asset is comprised of (1) 2- bedroom/1-bath and (2) 1-bedroom/1-bath units. The building features 1,817 Sq.Ft of living space, and sits on a large 7,239 Sq.Ft lot. The units feature hardwood floors, new paint and Washer/Dryer hookups in each unit. (2) garage units in the back, currently operating as storage present a perfect opportunity for ADU conversion. There is a lot of room to grow the monthly rental income to a 5.51% Market Cap Rate. The subject property is just minutes away from the Brand New NFL Stadium, Clippers Arena, and the Hollywood Park Development, which will include 500,000 Sq.Ft of retail space, a 300 unit hotel, 314 apartment units, and plenty of office space. Triplex, located in one of the most desirable neighborhoods of Inglewood. This value-add opportunity has over over 35% upside in monthly rental income. Property is separately metered for ALL utilities including water. Olive is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage! This spacious asset is comprised of (1) 2- bedroom/1-bath and (2) 1-bedroom/1-bath units. The building features 1,817 Sq.Ft of living space, and sits on a large 7,239 Sq.Ft lot. The units feature hardwood floors, new paint and Washer/Dryer hookups in each unit. (2) garage units in the back, currently operating as storage present a perfect opportunity for ADU conversion. There is a lot of room to grow the monthly rental income to a 5.51% Market Cap Rate. The subject property is just minutes away from the Brand New NFL Stadium, Clippers Arena, and the Hollywood Park Development, which will include 500,000 Sq.Ft of retail space, a 300 unit hotel, 314 apartment units, and plenty of office space.

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This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
www.solisteamrealty.com/homes/120268410
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633 W Olive Street Inglewood, CA 90301

  • Price: $900,000
  • Status: CONTINGENT
  • Updated: 34 min ago
  • ID#: SB21173674
4
Beds
0
Baths
0
½ Baths
0.17
Acres
Neighborhood:
Inglewood (90301)
County:
Los Angeles
Area:
Inglewood (90301)
Property Description
Triplex, located in one of the most desirable neighborhoods of Inglewood. This value-add opportunity has over over 35% upside in monthly rental income. Property is separately metered for ALL utilities including water. Olive is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage! This spacious asset is comprised of (1) 2- bedroom/1-bath and (2) 1-bedroom/1-bath units. The building features 1,817 Sq.Ft of living space, and sits on a large 7,239 Sq.Ft lot. The units feature hardwood floors, new paint and Washer/Dryer hookups in each unit. (2) garage units in the back, currently operating as storage present a perfect opportunity for ADU conversion. There is a lot of room to grow the monthly rental income to a 5.51% Market Cap Rate. The subject property is just minutes away from the Brand New NFL Stadium, Clippers Arena, and the Hollywood Park Development, which will include 500,000 Sq.Ft of retail space, a 300 unit hotel, 314 apartment units, and plenty of office space. Triplex, located in one of the most desirable neighborhoods of Inglewood. This value-add opportunity has over over 35% upside in monthly rental income. Property is separately metered for ALL utilities including water. Olive is an ideal pickup for any investor or owner/user looking to live in one unit and let the others pay off the mortgage! This spacious asset is comprised of (1) 2- bedroom/1-bath and (2) 1-bedroom/1-bath units. The building features 1,817 Sq.Ft of living space, and sits on a large 7,239 Sq.Ft lot. The units feature hardwood floors, new paint and Washer/Dryer hookups in each unit. (2) garage units in the back, currently operating as storage present a perfect opportunity for ADU conversion. There is a lot of room to grow the monthly rental income to a 5.51% Market Cap Rate. The subject property is just minutes away from the Brand New NFL Stadium, Clippers Arena, and the Hollywood Park Development, which will include 500,000 Sq.Ft of retail space, a 300 unit hotel, 314 apartment units, and plenty of office space.
Exterior Features

Pool N/K Site Sidewalks

Interior Features

Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1

Property Features

Actual Cap Rate 2.9 Annual Expense Actual 14226 Buildings 1 Cfd Mello Roos Fee 0.0 Cfd Mello Roos Fee Reflects Year Gross Rent Multiplier Actual 21.61 Gross Scheduled Income Actual 41640 Home Owners Fees 0.0 Unit Number For Unit1 1 Unit Number For Unit2 2 Unit Number For Unit3 3 Unit1 Rent Actual 1060.0 Unit2 Rent Actual 1200.0 Unit3 Rent Actual 1210.0 Zoning Assessor

Listing provided courtesy of Lyon Stahl Investment Real Estate, Inc.. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
 
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