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433 Venice Way
Inglewood, CA 90302
Sold
433 Venice Way is a 7-unit Apartment complex that is being sold with significant upside potential due to below market rents. This investment asset is located in the Prime NW Inglewood region of the city of Inglewood. Recent additions to the City of Inglewood include the new Sofi Stadium (NFL - Home to the Chargers and Rams), and the new Intuit Stadium (NBA - Home to the LA Clippers). In addition to these two gigantic venues & the tremendous new retail and high-end housing developments, the City of Inglewood recently upgraded The Forum and Hollywood Park Casino. The accumulation of all these projects has created a massive income growth, employment base, as well as a huge demand for housing throughout the city and surrounding areas. Although the City of Inglewood has its own rent control division, it is NOT subject to LA City, or LA County RSO. The current annual rent increase potential is 8.9% for qualified rents that are below 80% of FMV and 3.9% for those rents that are above the 80% FMV. Since most of the rents are below this 80% threshold, a new owner could potentially grow their income stream quite rapidly with this investment. Other benefits and reasons to buy this investment offering: Electrical: All units have new Electrical Subpanels. Plumbing: Copper Plumbing replaced. Utilities: Individual Hot Water Heaters and Separately Metered for Gas and Electric for each tenant (provides for low cost of ownership). Location: NW Inglewood (highly desired), Unique Character: Some units have oversized windows, vaulted ceilings, balconies, and the asset also benefits from an amazing curb appeal with is unique corner lot. Amenities: Common area Laundry Room with no lease, plus covered parking for all 7 units.
PROPERTY INFORMATION
| MLS # | SB24123984 | Lot Size | 6,991 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 1,595,000
Price Per SqFt: $ 315 |
DOM | 454 Days |
| Address | 433 Venice Way | Type | Residential Income |
| City | Inglewood | Sq.Ft. | 5,060 Sq. Ft. |
| Postal Code | 90302 | Garage | 7 |
| County | Los Angeles | Year Built | 1960 |
| Bed / Bath | 5 / 0 | Parking | 7 |
| Built In | 1960 | Status | Closed |
| Sold Date | 2024-09-30 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Common Area |
| EntryLocation | 1/1 |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
Walk Score: 77 (Very Walkable)
Transit Score: 48 (Some Transit)MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,701
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/15/2024 | Active | $1,595,000 |
| 06/17/2024 | Listed | $1,595,000 |
Topfind Realty
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(844)-333-8033
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Listing provided courtesy of David Holstein, The Holstein Group. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
