604 Venice Way Immeuble residentiel 6 lots 1 502 216 € (250 369 €/Lot) Taux de capitalisation 5,75 % Inglewood, CA 90302

Lee & Associates Apartment Advisors is pleased to present Venice Way Apartments, a six unit apartment community situated in Inglewood. Constructed in 1989, Venice Way Apartments boasts ±6,184 SF, and its unit mix is comprised of two x 1 bedroom/1 bath + den, two x 2 bedroom/1 bath, and two x 3 bedroom/1.75 bath apartments. Each apartment has its own water heater, and the property has owned laundry machines. Parking is serviced by fourteen parking spaces, in a carport, shared garage, and a private two car garage. Additionally, the roof was replace within the last two years.
Given, the parking configuration, an opportunity to develop ADUs exist. With the new state law SB 1211 in effect as of January, 2025, the number of detached ADUs on a multifamily property is now increased. Buyer to verify with the city of Inglewood the maximum allowed.
Venice Way Apartments is located in the northwest section of Inglewood, on a quiet side street, and is located far away from the noise of LAX’s final approach and adjacent to Ladera Heights and Kenneth Hahn State Park. The property enjoys easy access to local shopping centers which boast national brands including Amazon Fresh grocery store, Chick fil-A, Panda Express, Starbucks, Marshalls and Ralph’s. Access to LAX, the beaches, Beverly Hills and Century City via I-405 and CA 90 is within a few minutes drive.
Long known as the “City of Champions”, Inglewood is the gateway to LAX, and in recent years, has attracted multiple billion-dollar developments including SoFi Stadium, YouTube Theater, and Intuit Dome. The redevelopment of Hollywood Park into a master planned residential and entertainment district has transformed central Inglewood into a go to destination. The investment in the city has created thousands of permanent jobs, and has also generated significant demand for new residents, thereby driving growth in property values and rents.
The offering is an opportunity for an investor to acquire a well maintained property in a high demand rental location.