517 Evergreen St Inglewood, CA 90302-1938

Property Details for 517 Evergreen St

Year built

1962

Lot size

0.34 lot acres

Property size

12,088 SF

Zone code

INR3YY

Property type

Apartment buildings

APN

4017-002-037

APU

4017002037

Description

This exceptional 13-unit apartment building in Inglewood, California, presents a compelling investment opportunity. The property, situated at 517 Evergreen Street, boasts 12,088 square feet on a 15,011 square foot lot and features a desirable mix of unit sizes: one studio, one one-bedroom/one-bathroom, six oversized one-bedroom/one-bathroom units with dens, and five two-bedroom/two-bathroom units. Built in 1962, this two-story building offers a range of amenities including a swimming pool, on-site laundry facilities, ample covered parking, and controlled access. The property's strong location in the Centinela Heights neighborhood provides convenient access to numerous retail options such as Smart & Final, Ralphs, and various restaurants and shops, as well as the 405 Freeway. The current Net Operating Income (NOI) is $183,550, with a pro-forma NOI of $235,284, representing a potential 15% upside in current rents. The asking price is $4,095,000, translating to a price per square foot of $339 and a price per unit of $315,000. The current cap rate is 4.48%, with a pro-forma cap rate of 5.75%. Further potential exists for the development of three additional dwelling units (ADUs), subject to buyer verification and permitting. The property's APN is 4017-002-037 and is zoned INR3YY.

Location Insight

City

Inglewood

County

Los Angeles

State

California

Longitude

-118.368

Latitude

33.9762

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments