Turnkey Renovated Apartment
For Sale
$5,200,000
720 N Market, Inglewood, CA 90302
A fully renovated 16-unit multifamily property with updated solar, roofing, HVAC, and electrical systems.
Property Size13,918 SF
Days on Market141
Property Features for 720 N Market
General Information
Standard status
Active
Size
13,918 SF
Total Parking Spaces
16
Property subtype
Residential Income
Net Operating Income
$285,280
Additional Details
Business Included
Yes
Multifamily Units
16
Amenities
Street Lights, Sidewalks
Central Air
Central
Gas Cooktop, Microwave, Solar Hot Water
Storage
Assigned, Storage
Balcony
Building Details
Building Size
13,918 SF
Year Built
1964
Buildings
1
Stories
2
Listing Agency:
Centennial Advisers
Listed By:
Justin White · License #00875427
(714) 231-2537
Source:
Evrealestate
Added: May 30
Changed: Oct 15
Last Checked: Oct 16 at 8:26AM
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 Centennial Advisers
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Investment Insights
Based on property information with market context.
This 16-unit multifamily apartment building at 720 N. Market Street has been substantially renovated and positioned for turnkey ownership. Recent capital improvements include new solar panels, all 16 units remodeled, 88 windows replaced, upgraded electrical panel work with 16 sub-panels, and installation of 16 Nest thermostats. The building also received a copper re-pipe, a new roof, a new HVAC system, plus an on-site security system and gated entry.
The property is located in the growing North Inglewood sub market of Los Angeles and is described as within walking distance to the Metro Purple line. A number of major employers are listed within a 5-mile radius, including LAX Airport, SpaceX, Intuit Dome, Kia Forum, SoFi Stadium, Northrop Grumman, Kaiser Permanente, and multiple hospitals.
For buyers and operators, the key takeaway is that the asset features extensive modernization across both unit interiors and core building systems, supporting straightforward readiness for continued rental operations. The proximity to the Metro Purple line and the density of nearby employers make it a practical fit for tenants who commute within Los Angeles and the South Bay.
The property is located in the growing North Inglewood sub market of Los Angeles and is described as within walking distance to the Metro Purple line. A number of major employers are listed within a 5-mile radius, including LAX Airport, SpaceX, Intuit Dome, Kia Forum, SoFi Stadium, Northrop Grumman, Kaiser Permanente, and multiple hospitals.
For buyers and operators, the key takeaway is that the asset features extensive modernization across both unit interiors and core building systems, supporting straightforward readiness for continued rental operations. The proximity to the Metro Purple line and the density of nearby employers make it a practical fit for tenants who commute within Los Angeles and the South Bay.
Key Highlights
- Fully renovated 16‑unit multifamily property, built in 1964
- Recent major capital improvements include new solar panels, new roof, and copper re‑pipe of entire building
- Electrical updates: electrical panel upgraded, 16 sub‑panels upgraded
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$172,398
Cap Rate
3.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,447,960
$3.4M
Cap Rate 7%
$2,462,829
$2.5M
Cap Rate 9%
$1,915,533
$1.9M
Market Conditions
NOI Build-Up for 13,918 SF
Gross rent
$315.7K $22.68/SF
− Vacancy
−$2.2K −$0.16/SF
EGI
$313.5K $22.52/SF
− OpEx
−$141.1K −$10.13/SF
NOI
$172.4K $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%
$3,447,960
Cap Rate 7%
$2,462,829
Cap Rate 9%
$1,915,533
Alternative Uses
Best Use
Apartment 5plus
$2.46M
$2.15M – $2.87M
NOI $172,398 @ 7.0% cap · market cap 3.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.68M
$4.97M – $6.62M
NOI $397,498 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
16
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,569
Businesses Nearby
Explore this area
Business Placement
Demographics for 90302, CA
29,264
Population
11,366
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
15,402
Density / Sq Mi
$72,461
Median Household Income
$37,675
Median Earnings
$1,784
Median Rent
$731,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A fully renovated 16-unit multifamily property with updated solar, roofing, HVAC, and electrical systems.
Where is this apartment building located?
The property is located at 720 N Market Inglewood, CA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Fully renovated 16‑unit multifamily property, built in 1964; Recent major capital improvements include new solar panels, new roof, and copper re‑pipe of entire building; Electrical updates: electrical panel upgraded, 16 sub‑panels upgraded
