720 North Market Street
While Others Are Selling Deferred Maintenance, The Work Here Is Done - 16 Units Turnkey, Inglewood
Marketing description
Centennial Advisers is pleased to offer 720 N. Market Street in the growing North Inglewood sub market of Los Angeles. This 16-unit multifamily asset represents a compelling opportunity to acquire a fully renovated, turnkey property with strong in-place cash flow and operational stability.
This unique property has undergone major capital improvements in recent years, and is a standout in the neighborhood. Renovations include; new solar panels, all 16 units remodeled, 88 windows replaced, electrical panel upgraded, 16 sub-panels upgraded, 16 Nest thermostats, Copper re-pipe of entire building, new roof, new HVAC system, security system and gated entry. With approximately $750,000 already invested in this property, new ownership can be confident in their operations and the longevity of the asset.
Located within walking distance to the new Metro Purple line, this property is strategically located for both tenants that commute and those that work in Los Angeles and the South Bay. Within a 5 mile radius employers include; LAX Airport, SpceX, Intuit Dome, KIA Forum, SoFi stadium, Northrop Grumman, Kaiser Permanente and multiple hospitals. The location of this asset cannot be overlooked, with major employers nearby and the ongoing development happening in Inglewood, this asset is truly positioned in a growing market now, and in the future. With the upcoming FIFA World Cup and the 2028 Olympic Games, 720 N Market St is located in a market that will likely reach new heights.
An investor has the chance to own an already well performing asset, in a growing market, where cash flow is consistent from day one with a high potential of capital growth and increased monthly cash flow.
Investment highlights
- The asset is in turnkey condition after $748k in capital improvements. Upgrades feature a new roof, full copper re-pipe, electrical modernization, and solar panels, offering a fully renovated property for buyers.
- The property benefits from a clear path to increase Net Operating Income by 17.2% through market-rate rents. This rental upside allows investors to achieve a 5.83% pro forma capitalization rate, ensuring maximum cash flow and long-term value for the new owner.
- This property presents a prime location near the Intuit Dome and SoFi Stadium. With proximity to these venues, the asset is positioned to benefit from global events like the 2028 Summer Olympics, driving constant housing demand and economic growth.
- This property holds an 'A' rating, offering a superior position against nearby unrenovated 'C' rated 1960s properties. With comprehensive updates, the building stands out in the local market.
- The property features unmatched transit access, located 0.9 miles from the Metro K Line and 4.5 miles from LAX. Whether for daily commuting or travel, this positioning offers endless convenience for tenants working in the area.
- This property features modern systems, including new solar panels, Nest thermostats, and 88 new windows. These improvements are driving energy savings and transforming the building into an eco-friendly space for residents.
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