Property Details
Executive Summary
The Neema Group of Marcus & Millichap is pleased to present 1408-1412 Centinela Avenue, a 12-unit multifamily investment opportunity in Inglewood, comprised of two buildings on a single 11,992 SF parcel totaling approximately 8,862 SF of gross building area. The property was built in 1958.
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A diverse unit mix of nine one-bedrooms, one two- bedroom/one-bath, one two-bedroom/two-bath, and one three-bedroom/two-bath appeals to a wide range of renter profiles and supports consistent leasing activity across unit types.
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The property offers controlled access through a shared gate serving both buildings, providing a layer of security that is attractive to prospective tenants. The property is also separately metered for gas and electric.
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In-place ancillary income is generated through on-site laundry and storage rentals, with notable upside available by leasing additional storage space to tenants that is not currently being monetized. Select units feature wall AC units and in-unit washer and dryer hookups, amenities that are uncommon at this price point and support strong tenant retention.
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Rear detached garages present a potential ADU conversion opportunity, offering a future owner the ability to add units and increase density on the site (buyer to verify).
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Offered at $2,500,000 ($208,333/unit, $282.10/SF), reflecting a 6.41% current cap rate and 9.23 GRM on in- place income. Located in Inglewood, a submarket that has seen sustained investment and redevelopment activity in recent years, supporting long-term demand for well-located rental housing.
