2703 W 79th St new Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90305
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 1,600 sqft
Price per Sqft $499
MLS Listing ID 24-462775
Style Contemporary
Bedrooms 2
Construction Status New Construction
Lot Size 6,703 Sqft
Acres 0.1539
Property Description
Unique opportunity to build 1-2 units (by-right - fully entitled) in hot Morningside area of Inglewood. This is a CA SB - 9 lot division opportunity. 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 North Inglewood
Zoning INR1YY
Rooms
Other Rooms None
Interior
Heating Central
Cooling Central
Equipment None
Exterior
Garage None
Garage Spaces 2.0
Building
Lot Description Back Yard
Story 1
Architectural Style Contemporary
Level or Stories Two
Construction Status New Construction
Others
Special Listing Condition Standard