746 Cory Drive

Inglewood, CA 90302

$1,850,000
Price
3
Beds
8
Baths
6,170 Sq. Ft.
$300 / Sq. Ft.
6,170
Sq. Ft.
$300
per Sq. Ft.

Description

PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large one Bedrooms and Two Bedrooms. Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. Low Cost of operations as each tenant...PRIME NW Inglewood Location. 8 unit apartment complex with recently upgraded Electrical panels and Roof (approx 10 yrs old). Great unit mix with a mix of Large one Bedrooms and Two Bedrooms. Price to Sell with a potential 6%+ Cap. Long Term tenants with significant upside in rents (Rent Roll attached). City of Inglewood allows a generous annual rent increase of 8.9% when rents are below their 80% FMR (Fair Market Value) which applies to all of the residents. Low Cost of operations as each tenant pays their own Hot Water with individual Hot Water Heaters in each unit. Tenants also benefit from a Gas servicing each unit (as with individual meters). Common area laundry on site. Parking area consists of Open Spaces (3), Carports (3), a 2 car enclosed garage plus and additional single enclosed garage. Amazing street presence. Pride of Ownership asset. Seller (and partners) has owned this asset for 24+ years and is retiring / dissolving the partnership. No Seller carrybacks of financing offers are considered.
  1. Listed by David Holstein • DRE #01210777 • Brokerage DRE #01210777 • The Holstein Group • 310-345-9994

Property Details for 746 Cory Drive

Parking Spaces Total
9
Private Pool
No
Total Units
8.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
6170
Assessor Parcel Number
4017-021-020
Property Attached YN
true
LISTING UPDATED: 11/19/2024 06:14 AM

Property Details for 746 Cory Drive

StatusActive
MLS #SB24236205
Days on Market2
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1953
CountyLos Angeles County

Building Information for 746 Cory Drive

Building/Complex746 Cory DrFloor-Stories2Residences-Pet Policy-Year Built1953Building Size-

Property Information for 746 Cory Drive

Rental Info
Rental Info
  • Tenant Pays: Electricity, Gas
Income / Expense / Tax Details
Income Details
  • Gross Income: $0
  • Gross Scheduled Income: $169,116
  • Vacancy Allowance: 1691
  • Vacancy Allowance Rate: 1
  • Gross Operating Income: $167,425
  • Net Operating Income: $111,928
  • Other Income Description: see rent roll
  • Gross Multiplier: 10.94
  • Cap Rate: 6.05
Expense Details
  • Operating Expense: $55,497
  • Operating Expense Percent: 33.00%
  • New Taxes Expense: $23,535
  • Fuel Expense: $250
  • Licenses Expense: $1,450
  • Pest Control Expense: $750
  • Electric Expense: $610
  • Insurance Expense: $5,800
  • Maintenance Expense: $7,000
  • Maintenance Percent: 4.14%
  • Professional Management Expense: $5,100
  • Trash Expense: $3,702
  • Water Sewer Expense: $3,300
  • Supplies Expense: $2,500
  • Total Expenses: $55,497
Tax / Assessment Info
  • Tax Tract Number: 1062
  • Tax Census Tract: 6013.02
  • CFD/Mello-Roos Fee: $2,093
  • Tax Lot: 268
Community / Development
Community / Development
  • Community Features: Biking, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: 0-1 Unit/Acre
  • Number Of Units: 8
  • Land Lease: No
  • Land Lease Type: Fee
  • Sewer: Public Sewer
Parking Info
  • Garage Spaces: 3
  • Uncovered Spaces: 3
  • Open Other Spaces Total: 3
  • Parking Garage Spaces: 3
  • Carport Spaces: 3
Unit Information
Unit 1
  • Unit Type Units Total: 5
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,575
  • Unit Type Total Rent: $7,878
  • Unit Type Pro Forma: 8565
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 3
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 1
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,005
  • Unit Type Total Rent: $6,015
  • Unit Type Pro Forma: 6544
  • Unit Type Type: 2
Unit Information
  • Number Of Units Leased: 100
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 9
  • Number Of Separate Gas Meters: 9
  • Number Of Separate Water Meters: 1

Property History for 746 Cory Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 746 Cory Drive

Taxable ValueLand$324,996Additions$140,331Total$465,327
Tax Record2024$7,876 ($656 / month)
Home Facts
Total Finished SqFt6,170 SqFtAbove Grade Finished SqFt6,170 SqFtLot Size9,643 SqFtStyleMulti-Family Res (5+ Units)Year Built1953ZoningINR3YYCountyLOS ANGELESAPN4017-021-020

Schools near 746 Cory Drive

This home is within Inglewood Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - K to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Highland Elementary School
PublicK to 6

Parent (Frank D.) Elementary School
PublicK to 8

Inglewood High School
Public9 to 12

Wilder's Preparatory Academy Charter
CharterK to 5

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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746 Cory Drive is a multi-family home for sale in Inglewood, CA 90302. This property was listed for sale on November 18, 2024 by The Holstein Group, it's currently listed at $1,850,000. This listing's school district is Inglewood Unified School District. Nearby schools include Highland Elementary School, Parent (Frank D.) Elementary School and Inglewood High School. 746 Cory Drive is a 3-bed, 8-bath, 6,170 sqft multi-family home built in 1953.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Holstein Group, David Holstein, DRE #01210777

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.