See all 11 photos
11 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$799,000
Est. payment /mo
2 Beds
2 Baths
1,600 SqFt
UPDATED:
12/05/2024 05:18 AM
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,600 sqft
Price per Sqft $499
MLS Listing ID 24462775
Bedrooms 2
HOA Y/N No
Lot Size 6,703 Sqft
Property Description
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.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR1YY
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features None
Total Parking Spaces 2
Building
Lot Description Back Yard
Story 1
Entry Level Two
Architectural Style Contemporary
Level or Stories Two
New Construction Yes
Others
Senior Community No
Tax ID 4009030018
Special Listing Condition Standard
Read Less Info
Listed by Michael Maloney • Keller Williams Realty Los Feliz
GET MORE INFORMATION
Tracy Thrower Conyers
Broker Associate, JD | License ID: 01712960
Broker Associate, JD License ID: 01712960