713 Edgewood St, Inglewood, CA 90302

Overview

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Property Name: 713 Edgewood Street
Location: Inglewood, CA
Property Type: Multifamily Apartment Building
Year Built: 1972
Total Units: 8
Lot Size: ~9,000 square feet
Zoning: R3

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Unit Mix

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This well-maintained multifamily property comprises a total of 8 units, providing a balanced mix of living options for prospective tenants:

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• 1-Bedroom, 1-Bath Units: 6
  • These units are perfect for singles and couples, offering a comfortable living space with essential amenities.
• 2-Bedroom, 1-Bath Units: 2
  • Ideal for small families or roommates, these units include spacious balconies for outdoor relaxation.

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Unit Features

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The property's design prioritizes both comfort and functionality:

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• Balconies:
  • Each two-bedroom unit boasts a spacious balcony, enhancing outdoor living.
  • Unit #1 has an additional private balcony, while Unit #5 features a large private patio, perfect for entertaining or unwinding after a long day.

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Capital Improvements

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Investors will appreciate the significant upgrades that have been made to enhance both the property’s value and the tenant experience. Key improvements include:

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• New Mainline Sewer Pipes
  • These updates ensure efficient waste management and reduce long-term maintenance costs, making the property more appealing to prospective buyers.
• Updated Electrical Components
  • Modern electrical upgrades enhance safety and efficiency, a crucial factor in today’s rental market.
• Extensive Interior Renovations (4 out of 8 units)
  • New Flooring: High-quality flooring has been installed throughout, adding a modern aesthetic and improving durability.
  • Stylish Kitchen and Bathroom Cabinets & Fixtures: Upgraded cabinetry elevates the look and functionality of these essential spaces.
  • Stainless-Steel Appliances: New appliances not only enhance the units' appeal but also attract quality tenants.
  • Elegant Bathroom Tiling: Tasteful tiling adds a touch of luxury to the bathrooms.
  • Recessed Lighting: This modern feature creates a bright and welcoming atmosphere, appealing to potential renters.
  • New Blinds and Fans: Enhancements to comfort and energy efficiency make the units more livable year-round.

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Property Amenities

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713 Edgewood Street also features several amenities that improve tenant satisfaction and investment potential:

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• Parking:
  • The property includes 8 designated parking spaces, addressing the critical need for vehicle accommodation in Los Angeles. This feature is a significant draw for tenants.
• Community Laundry Area:
  • An on-site laundry facility generates additional income, providing convenience for residents and further enhancing the property’s appeal.

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Location Highlights

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Inglewood is rapidly becoming one of the most desirable neighborhoods in Los Angeles, thanks to major developments that are reshaping the area:

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• Proximity to Major Developments:
  • The property is located just 2.5 miles from the impressive SoFi Stadium and the upcoming Intuit Dome NBA Arena. These high-profile venues are expected to attract thousands of visitors, increasing the demand for local housing.
• Market Growth:
  • Inglewood is experiencing a renaissance, characterized by rising rental prices and increased interest from investors. The area’s ongoing development initiatives make it an attractive location for those looking to capitalize on the real estate market.

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Investment Potential

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For savvy investors, 713 Edgewood Street presents a remarkable opportunity to enhance their portfolios:

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• Estimated Rent Upside:
  • The property offers approximately 20% potential rent increase, making it a lucrative option for value-add investors.
• Tenant Status:
  • All current tenants are up-to-date on rent, ensuring consistent cash flow and stability for the new owner.

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713 Edgewood Street is not just a property; it’s a gateway to opportunity in one of Los Angeles’ most promising markets. With extensive renovations, desirable amenities, and a strategic location near significant developments, this multifamily asset is perfect for investors looking to secure a strong return on investment.

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For more information about this investment opportunity, please reach out to Taylor Avakian, founder of The Group CRE and First VP of Lyon Stahl. Take the next step toward investing in Inglewood’s thriving real estate market.