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$799,000
Est. payment /mo
2 Beds
2 Baths
1,600 SqFt
UPDATED:
12/05/2024 05:18 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,600 sqft
Price per Sqft $499
MLS Listing ID 24462775
Bedrooms 2
HOA Y/N No
Lot Size 6,703 Sqft
Property Description
Unique opportunity to build 1-2 units (by-right - fully entitled) in hot Morningside area of Inglewood. Invest in this booming area alongside billions of dollars of new development activity - SOFI Stadium, Intuit Dome, and the Kia Forum. Vacant lot entitled for either a single-family home (SFR) + and ADU or two-unit duplex (allows 2x800sqft units) 800 sq. ft projected to rent for up to $3,500, implying duplex rents of up to $7,000 per month. No off-street parking required, and no CEQA EIA or hearings required (ministerial approvals) Lots of upside potential, and a great opportunity to earn an outsized return. Build 2 x 800 sq ft duplex (1,600 sq. ft total) for ~$450k all-in, bringing total build (hard costs and soft costs) + land to $800,000 (we can refer you to a prefab builder ready to go at these prices). Imagine - a brand new construction duplex getting $6,000/month in rent for just $800,000 (that's about a 6.75% CAP rate!) - or flip it post-construction for $1.1mm+ Ask us how! Buyer to verify all claims regarding development ability, future values, and income potential.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR1YY
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 2
Building
Lot Description Back Yard
Story 1
Entry Level Two
Architectural Style Contemporary
Level or Stories Two
New Construction Yes
Others
Senior Community No
Tax ID 4009030018
Special Listing Condition Standard
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Listed by Michael Maloney • Keller Williams Realty Los Feliz