11121 S Freeman AVE new Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90304
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25192533
HOA Y/N No
Year Built 1953
Lot Size 0.300 Acres
Property Sub-Type Quadruplex
Property Description
-4 Unit Apartment Building in Lennox | 2,964 RSF on a 13,086 SF Lot
-Strong Unit Mix: (4) 2-Bed/1-Bath
-3.70% CAP Rate | $300,000/Unit | $404.86/SF | 14.97 GRM
-Opportunity for ADU (Buyer to Verify) | Potential SB9 Lot Split/Additional Units (Buyer to Verify)
-50% Rental Upside | Market Cap Rate of 6.85%
-Only 2 Miles From the Intuit Dome and SoFi Stadium
-(4) Private One-Car Garages | (1) Currently Vacancy Unit
This 4-unit apartment building presents an excellent investment opportunity in Lennox, a market positioned for continued growth and strong tenant demand. Situated on a large 13,086 SF lot, the property features 2,964 rentable square feet and a favorable unit mix consisting of (4) 2-Bed/1-Bath units, providing well-balanced layouts that appeal to a wide range of renters.
Priced at $300,000 per unit and $404.86 per square foot, the asset offers an attractive entry CAP rate of 3.70% with significant room for growth, as investors can target approximately 50% rental upside and a projected market CAP rate of 6.85%.
Beyond strong in-place fundamentals, the property presents multiple avenues for value creation, including the potential to add an ADU (buyer to verify) and further expansion possibilities under California's new SB9 legislation, which may allow for a lot split or additional units (buyer to verify). Ideally located just two miles from both the Intuit Dome and SoFi Stadium, the property also includes (4) private one-car garages and one currently vacant unit, offering immediate leasing upside. This asset provides investors with both stable income and significant long-term growth potential.
Location
State CA
County Los Angeles
Area 105 - Lennox
Zoning LCR2YY
Interior
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Biking
Total Parking Spaces 4
Private Pool No
Building
Lot Description 2-5 Units/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4035025014
Acceptable Financing Conventional
Listing Terms Conventional
Special Listing Condition Standard