630 Venice Way Inglewood, CA 90302-2845

Property Details for 630 Venice Way

Year built

1973

Construction

WOOD

Lot size

1.05 lot acres

Property size

68,160 SF

Zone code

INR3*

Property type

Apartment buildings

APN

4017-024-031

APU

4017024031

Description

This exceptional 58-unit apartment building, located at 630 Venice Way in Inglewood, California (APN 4017-024-031), presents a compelling investment opportunity. The property, built in 1973, offers 68,160 square feet on a 45,673 square foot lot and is currently priced at $17,500,000 ($256.75/sq ft and $301,724.14/unit), reflecting a 5.22% cap rate. The building features a desirable unit mix, including 53 two-bedroom/two-bathroom units and 5 three-bedroom/two-bathroom units. Amenities include a swimming pool, gated parking, a fitness center, a barbecue area, security entry, laundry rooms on each floor, an elevator, and gas fireplaces in every unit. The property benefits from significant rental upside potential. Attractive seller financing is available: a first trust deed at 3.5% interest-only for five years. This Class B multifamily property is situated in Los Angeles County, offering convenient access to local amenities and transportation. The building's features and location make it an ideal investment for those seeking strong returns and potential for future appreciation in the thriving Inglewood market. This is a rare opportunity to acquire a well-maintained, income-producing asset with significant upside potential.

Location Insight

City

Inglewood

County

Los Angeles

State

California

Longitude

-118.366

Latitude

33.9698

CBSA code

31080

CBSA name

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

Property Tax & Assessments