Property Details
About this Property
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
MLS Listing Information
MLS #
CRSB24123984
MLS Source
California Regional MLS
Parking, School, and Other Information
Garage/Parking
Garage: 7 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
433 Venice Way is a Residential Income in Inglewood, CA 90302. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at – and was built in 1960. This address can also be written as 433 Venice Way, Inglewood, CA 90302.
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This listing information is up-to-date as of September 30, 2024. For the most current information, please contact David Holstein, (310) 891-3339
