Multi-Family for sale in Southern California — $799,000. 2 beds · 2 baths · 1,600 sqft. 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…
$799,000
2703 W 79th Street, Inglewood, CA 90305
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.
Listing updated: December 4, 2024 at 9:18 PM
Listed by: Michael Maloney, Keller Williams Realty Los Feliz
Source: CRMLS, MLS#: 24462775, Originating MLS: California Regional MLS
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| Date | Event | Price |
|---|---|---|
11/12/2024 Source: CRMLS, #24462775 | Listed for sale | $799,000$499/sqft |
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