Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

Apartment

Bedrooms

5

Building size

4,890 sqft

Lot size

6,962 sqft

Year built

1963

Stories

2

Garage spaces

3

Heating

Central

Cooling

Central Air

Pool

None

Status

Active

Days on market

0

MLS #

249256671

About this property

Prime Inglewood 5-unit value-add investment opportunity located less than a 5-minute walk from SoFi Stadium and The Forum. The property features two 2-bedroom/1.75-bath units and three 1-bedroom/1-bath units, with spacious floor plans of approximately 900–1,000 square feet. Offered at $319,000 per unit and $326 per square foot, the property offers approximately 25% rental upside with a projected Pro Forma 6.9% CAP and 11.2 GRM. The property features select remodeled units, A/C in all units, on-site laundry, and an all-electric configuration with no gas expense. Recent improvements include an approximately 5-year-old roof, exterior paint, and water-efficient landscaping. Additional value-add potential includes adjacent double and single-car garages with possible ADU conversion, subject to buyer verification. Strong location, large units, rental upside, and ADU potential make this a compelling value-add opportunity in the heart of Inglewood.

Location

632 Manchester Drive

Inglewood, Los Angeles, CA, 90301