218 W Buckthorn Street, Inglewood, CA 90301

About this property

7 Units including a large detached front House with its own private yard. Cash flowing at an incredible Current Cap Rate of 5% and 13.6 GRM in prime Inglewood. Priced at only 235k/door and 334/SF and delivered with 1 vacant unit for immediate lease-up and upside. Amazing 45% upside to 8% Cap Rate and 9.4 GRM on Proforma. The 7th studio unit is non-conforming but it has been rented and occupied for the past ~10 years and can be legalized as an ADU. Excellent unit mix of 1 large 1,346 SF (2bed/2bath) front house, 6 (1bed/1bath) units, and 1 (studio/1bath) unit. The property features large units with private balconies, decks, and garages with the potential to reconfigure the layouts, creating additional beds and maximizing rent potential. Large 9,660 SF Lot with ample parking and garages with preliminary plans to add 1 Attached ADU and 2 Detached ADUs. The property features many upgrades such as dual-pane windows, brand-new roofs, an updated electrical system, exterior renovations, as well as interior renovations for the vacant unit. Prime Inglewood location just minutes away from SOFI stadium, the Entertainment District at Hollywood Park; the new Intuit Dome; and just one mile from SpaceX & Tesla Design Center; plus conveniently situated near several freeways and 15 minutes from the beach! Inglewood is exempt from LA City Rent Control and currently allows incredible 7.9%-10% Annual Increases!

Listing description from the May 2023 sale, as reported to CRMLS.

Sale history

$1,610,000

Sold May 2023 · listed $1,650,000, on market April 2023 · MLS #23257851 · Source: CRMLS

Listing Agent: Julio Ruiz · Listing Office: Global Platinum Properties, Inc. · Contact: 818-524-0706 · Bought with: Out of Area Inglewood · Inglewood Board of REALTORS

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