CA > Inglewood
Inglewood, CA 90305,2703 W 79th ST
Inglewood, CA 90305,2703 W 79th ST
Inglewood, CA 90305,2703 W 79th ST
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Diego Magdaleno

Diego Magdaleno

+1(714) 681-1222
$799,000
Est. payment /mo
2 Beds
2 Baths
1,600 SqFt
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UPDATED:

11/21/2024 09:01 PM

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

Garage 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

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California Regional MLS (CRMLS)
Listed by Michael Maloney • Keller Williams Realty Los Feliz
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