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33300577
33300562

532 S Flower St, Inglewood, CA 90301

GS
CA 01965474
RE/MAX TerraSol
RE/MAX TerraSol
Listed by RE/MAX TerraSol
$1,699,800
6 days on market
Updated 6 days ago

532 S Flower St - A few minutes walk to SoFi

Details
APN 4021037028
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,424
Units 4
Cap Rate 7.40%
NOI $126,584
Occupancy 75%
Tenancy Multi
Price per SqFt $384
Year Built 1928
Buildings 2
Stories 2
Acreage 0.221
Zoning R3
Parking Spaces 6 spaces
Parking Per SqFt 1.36
Investment Type Value Add

Multifamily | 7.40% CAP | 4 Units

Marketing description

Great opportunity to own an extensively improved 4 unit property situated on a spacious 9,627 square foot R3 zoned lot, just moments from SoFi Stadium, the Kia Forum, Hollywood Park, and the ongoing redevelopment transforming Inglewood. The property features a front house that will be delivered vacant at the close of escrow, creating exceptional flexibility for an owner occupant, investor, short term rental operator, or tenant seeking market rent. The three rear units are tenant occupied, providing immediate and stable rental income from day one. This turn key asset has benefited from thoughtful upgrades and improvements and is professionally managed and operated. Recent enhancements include a new roof installed in 2022, a permitted kitchenette in the main house, an updated kitchen in the main house, and an upgraded electrical panel. The property has also been approved for additional improvements through the Residential Sound Insulation Program (RSIP). Scheduled for installation in early 2027, and transferable to the next owner, these improvements include upgraded HVAC systems, new interior and exterior doors, and dual and triple pane windows, representing a substantial future benefit at no cost to the buyer. The property also offers four attached single car garages, creating valuable parking and storage options. Buyers may wish to explore the potential for future ADU conversion, subject to city requirements and approvals, adding another layer of long term upside. With strong in place income, a vacant owner's unit, significant recent capital improvements, development friendly R3 zoning, and a premier location in one of Southern California's most dynamic growth corridors, this property presents an exceptional combination of current cash flow and future appreciation potential. This one is a slam dunk and truly does not disappoint.

Investment highlights

  • Great opportunity to own an extensively improved 4 unit property situated on a spacious 9,627 square foot R3 zoned lot, just moments from SoFi Stadium, the Kia Forum, Hollywood Park, and the ongoing redevelopment transforming Inglewood
  • Front house will be delivered vacant at the close of escrow, creating exceptional flexibility for an owner occupant, investor, short term rental operator, or tenant seeking market rent
  • Three rear units are tenant occupied, providing immediate and stable rental income from day one
  • Turn key asset has benefited from thoughtful upgrades and improvements and is professionally managed and operated
  • Recent enhancements include a new roof installed in 2022, a permitted kitchenette in the main house, an updated kitchen in the main house, and an upgraded electrical panel
  • Property has been approved for additional improvements through the Residential Sound Insulation Program (RSIP)
  • Scheduled for installation in early 2027, and transferable to the next owner, improvements include upgraded HVAC systems, new interior and exterior doors, and dual and triple pane windows
  • Four attached single car garages, creating valuable parking and storage options
  • Potential for future ADU conversion, subject to city requirements and approvals
  • Strong in place income, a vacant owner's unit, significant recent capital improvements, development friendly R3 zoning
  • Premier location in one of Southern California's most dynamic growth corridors

Listing Contacts

GS
CA 01965474
RE/MAX TerraSol
RE/MAX TerraSol
Listed by RE/MAX TerraSol

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$126,584.00
$10,548.67/mo

Valuation Metrics

0
DSCR
7.45%
Cap Rate
7.45%
ROI

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