Samimi CRE Advisors
    Listings/4932 Lennox Blvd
    4932 Lennox Blvd - Photo 1
    multifamilyActive Listing

    4932 Lennox Blvd

    Inglewood, CA 90304

    Valuation

    $1,500,000

    Key Specifications

    Total Units

    8

    multifamily

    Year Built

    1961

    Value-Add Era

    Interior

    6,836 SF

    $219 / SF

    Lot Area

    8,262 SF

    Unit Mix

    multifamily

    7x 2-Bed/1-Bath, 1x 1-Bed/1-Bath

    Investment Highlights

    Over $87,000 in annual rental upside with current rents at $13,355/month versus projected market rents of $20,650/month.
    Potential to develop up to 4 additional ADUs, creating added income and long-term value. Buyer to verify.
    Currently offered at a cap rate just below 7%, providing strong in-place cash flow from day one.
    Currently offered at a GRM below 10, an attractive basis relative to many recent Inglewood sales.
    Potential to increase NOI by more than 30% through unit turnover and rent repositioning alone.
    Priced at just $187,500 per unit, below many recent Inglewood multifamily sales.

    Property Overview

    4932 Lennox Blvd presents a compelling value-add investment opportunity in Inglewood, one of Southern California's most rapidly expanding multifamily markets. This property, situated on an 8,262 SF LCR3YY-zoned lot, features eight units, comprising seven 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. The asset offers a robust combination of existing income, significant rental upside potential, and future development possibilities in a market experiencing substantial ongoing investment. The current rents are below market, indicating a projected annual rental upside of over $87,000. This presents a significant opportunity to increase Net Operating Income (NOI) through strategic unit turnover and rent repositioning. Furthermore, the property's existing layout may allow for the development of up to four Accessory Dwelling Units (ADUs), providing an additional avenue for income generation and long-term value appreciation. Buyers are advised to verify all development potential with the City of Inglewood. With over $87,000 in projected rental upside, the 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 pathways to increase income and create long-term value. The property is conveniently located just minutes from major attractions such as SoFi Stadium, Intuit Dome, Hollywood Park, YouTube Theater, and LAX, benefiting from strong employment drivers, entertainment demand, and sustained economic growth in the area.