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.
Property Details
Price:
$799,000
MLS #:
24462775
Status:
Active
Baths:
0
Address:
2703 W 79th Street
Type:
Residential Income
Neighborhood:
101northinglewood
City:
Inglewood
Listed Date:
Nov 12, 2024
State:
CA
ZIP:
90305
Lot Size:
6,703 sqft / 0.15 acres (approx)
Year Built:
See this Listing
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Schools
Interior
Cooling
Central Air
Heating
Central
Exterior
Lot Features
Back Yard
Parking Features
None
Parking Spots
2.00
Stories Total
1
Financial
Map
Community
- Address2703 W 79th Street Inglewood CA
- Area101 – North Inglewood
- CityInglewood
- CountyLos Angeles
- Zip Code90305
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Courtesy of Keller Williams Realty Los Feliz. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
2703 W 79th Street
Inglewood, CA
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