$1,500,000/mo

4932 Lennox, Inglewood, CA 90304

6,836 sqft

Rent shown is base rent as provided by the property owner or manager. Additional mandatory fees, deposits, or utilities may apply and are set by the property owner or manager.

Rental
Built in 1961
8,263sqft lot
—— car garage
$219/sqft
Listed 1 month ago

Property Description

4932 Lennox Blvd presents a value-add investment opportunity in the heart of Inglewood, one of Southern California’s fastest-growing multifamily markets. Situated on an 8,262 SF LCR3YY-zoned lot, the property consists of eight units comprised of (7) 2+1 units and (1) 1+1 unit. The asset offers a combination of strong in-place income, rental upside, and future development potential in a market benefiting from significant ongoing investment. Current rents remain below market, creating over $87,000 in projected annual rental upside and the opportunity to significantly increase NOI through unit turnover and strategic rent repositioning. Additionally, the property’s existing layout may provide the ability to develop up to four ADUs, offering another avenue to increase income and long-term value. Buyer to verify all development potential with the City of Inglewood. With over $87,000 in projected rental upside, potential for up to four new ADUs, a projected stabilized cap rate approaching 7%, and a projected GRM below 10, 4932 Lennox Blvd offers investors multiple paths to increase income and create long-term value in one of Los Angeles County’s most active investment markets. Located just minutes from SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX, the property benefits from strong employment drivers, entertainment demand, and continued economic growth throughout the area.