This offering presents a great opportunity for an investor to acquire an asset with a strong unit mix, great Centinela Heights location, and potential to add value by developing three ADUs (buyer to verify) and capturing 18 percent upside in current rents.
517 Evergreen Street is a 1962 construction with a desirable mix of one studio, one standard one bed/one bath unit, six oversized one bed/one bath units with dens, and five two bedroom/two bath units. An investor could potentially develop two studio ADUs and one one bed/one bath ADU (buyer to verify). The property boasts an amenities package that includes a pool, on site laundry, ample covered parking, controlled access, and attractive landscaping.
This asset is located in Inglewoods desirable Centinela Heights neighborhood near the intersection of Centinela Avenue and La Cienega Boulevard. Tenants enjoy easy walking distance to a Smart & Final Grocery Store and convenient proximity to numerous retailers, including Ralphs, Bath & Body Works, Chipotle, Yogurtland, Ross Dress for Less, Panda Express, Chick Fil A, CVS, Marshalls, and many others. Furthermore, the 405 Freeway is just a mile away, making this an excellent rental option for commuters.