Description

The subject property is a two-story walkup apartment complex consisting of a 10 unit building with an additional non-permitted unit on one parcel. The building was constructed in 1961 and has 7 (1+1), 3 (2+1) units and a non permitted studio apartment. There is a laundry room onsite, and parking for 10 vehicles. The property and improvements have been well maintained by long term ownership, and there is significant upside in rental income as units turnover. The adjacent property at 3321-3325 West 74th Street is a 20 unit apartment building and is being offered for sale by the same ownership as a portfolio. The property is well located just 7 minutes east of the thriving entertainment district of Inglewood which features SoFi Stadium, The Kia Forum, Intuit Dome, YouTube Theatre, Hollywood Park Casino and a multitude of dining options. Even closer to the property are Centinela Hospital, Target, Costco, Home Depot. There are major employers just 30 minutes away in Downtown LA. The area is densely populated which results in a strong rental market.