2703 W 79th Street, Inglewood, CA 90305

• 2 beds |
• 2 baths |
• 1,600 sqft

Property Description

Unique opportunity to build 1-2 units (by-right - fully entitled) in hot Morningside area of Inglewood. 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.

Listing Status:

Active

Date Added:

November 12, 2024 at 06:00AM

Listing Office:

Keller Williams Realty Los Feliz : 323-300-1000

Listing Agent:

Michael Maloney : 323-842-9687

MLS ID:

24462775

Interior

• A/C: Central Air
• Heating: Central

Exterior

• Style: Contemporary
• Parking: Parking spaces: 2

Construction

• General: 2

Location

• Originating MLS: CRMLS
• County: Los Angeles

Lot

• Zoning: INR1YY4009030018

Financial

• Source: CRMLS

This listing courtesy of Michael Maloney, Keller Williams Realty Los Feliz