4928 Lennox Blvd presents a unique opportunity to acquire a well-located apartment property in the heart of Inglewood, one of Southern California’s fastest-growing rental markets. Situated on a 7,512 SF LCR3YY-zoned lot, the property consists of (1) 3+1 unit, (3) 2+1 units, and (1) non-conforming studio unit, offering investors a… Read More compelling combination of current income, rental upside, and future development potential.
A key investment advantage is that the property is currently recognized as a 4-unit property with a non-conforming fifth unit, potentially allowing qualified buyers access to residential financing options that are often unavailable on traditional 5+ unit multifamily properties. This structure may provide more favorable financing terms, lower down payment requirements, and greater buyer accessibility. Buyers should independently verify financing eligibility with their lender.
In addition to its attractive financing profile, the property offers a significant ADU value-add opportunity. The existing carport area may provide the ability to develop up to four new ADUs, creating a rare opportunity to substantially increase rental income and long-term property value. Combined with the property’s existing rental upside, the ADU potential creates multiple paths to enhance returns. Buyer to independently verify all ADU potential, development feasibility, zoning requirements, parking requirements, and unit count with the City of Inglewood.
Current ownership has maintained rents substantially below market levels, creating an opportunity for a new investor to increase income through unit turnover and strategic rent repositioning. Based on market rents outlined in the offering, the property offers over $69,000 in projected annual rental upside, providing a clear path toward increased cash flow even before pursuing any future development. Read Less
Property listed by Lyon Stahl Investment Real Estate, Inc., Cameron Samimi 310-259-7556
Listing Snapshot
Days Online
1
Last Updated
Property Type
Apartment
Lot Size
0.17 Acres
Year Built
1941
MLS Number
SB26124346
Additional Details
Building
Built in 1941, 1 building, 2 stories, Entry level: 1, Entry location: Front
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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