713 Edgewood St, Inglewood, CA 90302

8 Units in Inglewood w/ Assumable Loan at 4.7% Interest-Only

Property Highlights

8 Units Built in 1972
6,220 Total SqFt; units average 778 SqFt each
Solid mix of (6) 1+1 and (2) 2 +1 units
Huge R3 lot, almost 9,000 Square Feet
Fully parked with eight spaces
New sewer mainlines and updated electrical
Assumable Chase loan at 4.7% interest-only thru Aug 2027
Fully occupied with approximately 17% upside
Ability to add 3-4 ADUs on property (Buyer to verify)
Prime Inglewood location
Extensive interior renovations in 4 of the 8 units
Just 2 miles from SoFi Stadium & Intuit NBA Arena

The Opportunity

The Glaser Group & The Group CRE are pleased to present 713 Edgewood Street, an 8-unit apartment building located in prime Inglewood, one of the hottest up-and-coming markets in Los Angeles. The property was built in 1972 and is comprised of (6) 1-bed / 1-bath units and (2) 2-bed /1-bath units. The property sits on a huge lot, nearly 9,000 square feet, and is zoned R3. The two-bedroom units have spacious balconies, and one of the one-bedrooms at the front of the building also has a large private balcony. Significant capital improvements have gone into the building, including new mainline sewer pipes, updated electrical components, and extensive interior renovations in 4 out of the 8 units. These tasteful renovations include new flooring, new kitchen/bathroom cabinets & fixtures, new stainless-steel appliances, bathroom tiling, recessed lighting, as well as new blinds and fans. The property also features 8 parking spaces and a community laundry area for additional income. Additionally, the property is being offered with a fantastic assumable Chase loan at 4.7% interest-only through August 2027, providing a 5.70% cash-on-cash. Lastly, the property offers room to build at least 3-4 ADUs in the tuck-under parking area, detached garage and attached storage areas (Buyer to verify).

Located just 2 miles from massive developments like the new SoFi Stadium and Intuit Dome NBA Arena, the building is located in the heart of Inglewood on a quiet residential block. Inglewood is a city in the South Bay region of Los Angeles bordered by Hawthorne, Westchester/LAX, and Ladera Heights, and it has recently emerged as one of the hottest real estate markets in Southern California. Much of Inglewood’s property appreciation is due to a massive amount of investment taking place in the region, with multi-billion-dollar sports and entertainment projects like SoFi Stadium, the Inuit Dome NBA Arena and the Hollywood Park Development. Inglewood is also home to the famous Forum arena, one of LA’s most prominent concert venues. Additionally, the $2.1 billion Crenshaw-LAX Light Rail Line was recently completed, which connects Mid-City to Inglewood and the South Bay with eight new stops.