Multifamily Property with ADU
For Sale
$1,100,000
Pending
4928 Lennox, Inglewood, CA 90304
Apartment property with five units, a non-conforming studio, carport area, and LCR3YY zoning.
Property Size4,344 SF
Lot Size0.17 Acres
Days on Market141
Property Features for 4928 Lennox
General Information
Standard status
Pending
Size
4,344 SF
Lot size
0.17 Acres
Property subtype
Apartment
Zoning
LCR3YY
Units
Unit Mix
1 x 3BR/1BA, 3 x 2BR/1BA, 1 x non-conforming studio
Multifamily Units
5
Building Details
Building Size
4,344 SF
Year Built
1941
Listing Agency:
Lyon Stahl Investment Real Estate, Inc.
Listed By:
Cameron Samimi · License #02035763
(310) 259-7556
Source:
Archetyperealty
Added: Jun 10
Changed: Oct 26
Last Checked: Oct 27 at 12:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate, Inc.
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Investment Insights
Based on property information with market context.
The property at 4928 Lennox Blvd in Inglewood is an apartment asset on a 7,512-square-foot LCR3YY-zoned lot. Built in 1941, it includes one 3+1 unit, three 2+1 units, and one non-conforming studio, for five existing units in total. The property is currently recognized as a four-unit property with a non-conforming fifth unit.
The existing carport area may support development of up to four new ADUs, subject to independent confirmation of feasibility, zoning, parking, unit-count, and City of Inglewood requirements. Current ownership has maintained rents below market levels, providing an opportunity to review rents as units turn over. Buyers should verify unit status, development potential, and applicable financing eligibility with their lender and the City of Inglewood.
The existing carport area may support development of up to four new ADUs, subject to independent confirmation of feasibility, zoning, parking, unit-count, and City of Inglewood requirements. Current ownership has maintained rents below market levels, providing an opportunity to review rents as units turn over. Buyers should verify unit status, development potential, and applicable financing eligibility with their lender and the City of Inglewood.
Key Highlights
- Five existing units: one 3+1, three 2+1 units, and one non‑conforming studio
- 7,512 SF LCR3YY‑zoned lot in Inglewood
- Existing carport area may allow up to four new ADUs, subject to City verification
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$53,808
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,160
$1.1M
Cap Rate 7%
$768,686
$768.7K
Cap Rate 9%
$597,867
$597.9K
Market Conditions
NOI Build-Up for 4,344 SF
Gross rent
$98.5K $22.68/SF
− Vacancy
−$690 −$0.16/SF
EGI
$97.8K $22.52/SF
− OpEx
−$44.0K −$10.13/SF
NOI
$53.8K $12.39/SF
Area
Inglewood, CA
Vacancy
0.70%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,076,160
Cap Rate 7%
$768,686
Cap Rate 9%
$597,867
Alternative Uses
Best Use
Apartment 5plus
$768.7K
$672.6K – $896.8K
NOI $53,808 @ 7.0% cap · market cap 4.89%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.77M
$1.55M – $2.07M
NOI $124,065 @ 7.0% cap · market cap 11.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,382
Businesses Nearby
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Business Placement
Demographics for 90304, CA
26,058
Population
7,673
Households
3.4
Avg Household Size
33
Median Age
14%
College-Educated
56%
High-School Grad
1.6 sq mi
ZIP Area
16,286
Density / Sq Mi
$63,317
Median Household Income
$31,385
Median Earnings
$1,499
Median Rent
$696,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Apartment property with five units, a non-conforming studio, carport area, and LCR3YY zoning.
Where is this multifamily property located?
The property is located at 4928 Lennox Inglewood, CA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Five existing units: one 3+1, three 2+1 units, and one non‑conforming studio; 7,512 SF LCR3YY‑zoned lot in Inglewood; Existing carport area may allow up to four new ADUs, subject to City verification
