515 S Grevillea AVE, Inglewood, CA 90301
515 S Grevillea AVE, Inglewood, CA 90301
515 S Grevillea AVE, Inglewood, CA 90301
515 S Grevillea AVE, Inglewood, CA 90301
515 S Grevillea AVE, Inglewood, CA 90301
515 S Grevillea AVE, Inglewood, CA 90301
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Freddie Bustria, Bustria & Associates

Freddie Bustria, Bustria & Associates

+1(619) 733-4485
$ 1,350,000
Est. payment | /mo

8 Beds

7 Baths

4,895 SqFt

Save
$ 1,350,000
Est. payment | /mo
Save

8 Beds

7 Baths

4,895 SqFt

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,895 sqft

Price per Sqft $275

MLS Listing ID 26103106

Bedrooms 8

HOA Y/N No

Year Built 1963

Lot Size 7,557 Sqft

Property Description

We are pleased to present the exclusive offering of 515 S Grevillea Ave, a well-maintained 5-unit apartment building located in the heart of Inglewood, California. This offering presents an attractive opportunity to acquire a clean, well-maintained multifamily asset with strong in-place cash flow and compelling investment fundamentals. Constructed in 1963, the property consists of 4,895 square feet of rentable building area situated on a 7,557 square foot lot. The property features a desirable unit mix of two 1-bedroom/1-bathroom units, one 2-bedroom/1-bathroom unit, and two 2-bedroom/2-bathroom units, offering a variety of layouts to appeal to a broad tenant base. The property stands out for its spacious units, overall condition, and history of meaningful capital improvements. Approximately 10 years ago, several major upgrades were completed, including electrical improvements, copper plumbing, vinyl windows, heating and air conditioning units, and a new roof. Combined with the property's ongoing maintenance and various interior upgrades, these improvements provide a solid foundation for continued ownership while helping minimize the need for immediate major capital expenditures. Offered at $1,350,000, the property delivers an attractive 6.41% current capitalization rate and 9.85 gross income multiplier (GIM), with upside to a 7.48% pro forma capitalization rate and 8.84 pro forma GIM. This combination of strong day-one cash flow and additional income potential makes the property particularly appealing to investors seeking an income-producing asset with an accessible entry point into the Los Angeles multifamily market. Additional highlights include five covered carport spaces and three single-car garages, providing a total of eight parking spaces for the five-unit property. There is an on-site laundry room as well. Ideally situated near SoFi Stadium, the Hollywood Park development, the Intuit Dome, and major employment and transportation corridors, the property benefits from its location within one of Southern California's evolving rental markets. 515 S Grevillea Ave represents an excellent opportunity for both first-time multifamily investors and experienced owners seeking a straightforward, cash-flowing investment with an established history of capital improvements, desirable unit layouts, and additional potential to enhance returns over time.

Location

State CA

County Los Angeles

Area 101 - North Inglewood

Zoning INR3YY

Interior

Heating Central

Cooling Central Air

Fireplace No

Appliance Microwave

Laundry Common Area

Exterior

Parking Features Carport, Door-Multi, Garage

Total Parking Spaces 8

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 4020028029

Special Listing Condition Standard

CRMLS Full IDX Feed (MAIN Website Search)
Listed by John Katnik BRC Advisors- BH #02002695

Nearby Locations

Freddie Bustria, Bustria & Associates

Guiding clients through San Diego County's real estate market: tailored solutions for selling, investing, and finding your dream property. Please reach out to me!

+1(619) 733-4485

freddie@freddiebustria.com

8702 La Mesa Blvd, La Mesa, CA 91942, USA

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515 S Grevillea AVE