713 Edgewood Street: Improving & Stabilizing a Prime Multifamily Asset

Just Closed: 713 Edgewood Street, an Exceptional Investment Opportunity

The Group CRE and The Glaser Group are pleased to announce the recent sale of 713 Edgewood Street, an 8-unit apartment building in the heart of Inglewood—one of LA’s most promising real estate markets. Originally built in 1972, this well-maintained property drew significant interest for its ideal location, extensive renovations, and value-add potential, making it a remarkable investment for the buyer and a meaningful closing for our seller.

713 Edgewood Street stood out from the beginning for its unique mix of solid fundamentals and growth potential. Set on a nearly 9,000-square-foot R3 lot, this property offered a fully occupied building with a solid unit mix (six 1-bed/1-bath and two 2-bed/1-bath units) and rental upside of approximately 17%. Significant upgrades, including new sewer mainlines, updated electrical, and modern interior finishes in four units, made this an attractive opportunity for multifamily investors looking to capitalize on Inglewood’s rising market.

Property Highlights | 713 Edgewood St

• Property Type: 8-unit apartment building
• Built: 1972
• Unit Mix: (6) 1-Bed/1-Bath, (2) 2-Bed/1-Bath
• Size: 6,220 Total SqFt, units average 778 SqFt each
• Lot Size: Nearly 9,000 SqFt, R3 Zoned
• Capital Improvements: New mainline sewer, electrical upgrades, and full interior updates on 4 of 8 units
• Parking: 8 dedicated parking spaces and additional community laundry area
• Loan: Assumable Chase loan at 4.7% interest-only (through August 2027)
• Income Potential: Fully occupied with an estimated 17% rent upside
• ADU Potential: Capacity for adding 3-4 ADUs within existing lot boundaries (Buyer to verify)
• Location: Quiet residential street, 2 miles from SoFi Stadium, Intuit Dome, and key developments in Inglewood

Prime Location & Area Growth

713 Edgewood Street is set in Inglewood, a market that has witnessed explosive growth and development due to the introduction of multi-billion-dollar entertainment projects like SoFi Stadium, Intuit Dome, and the Hollywood Park Development. These iconic venues, along with the completion of the $2.1 billion Crenshaw-LAX Light Rail Line, make Inglewood one of the most dynamic real estate markets in Southern California. The new transit line directly links Inglewood to major hubs, offering residents and tenants quick access across Los Angeles.

Inglewood’s Advantageous Market Positioning

The local market’s resilience is evident from recent data, with Inglewood maintaining strong property appreciation and investor interest. Currently, the city has a multifamily building median listing price of $997,000, many of which move quickly in this competitive area according to Redfin. Properties in Inglewood generally stay on the market for 108 days and average 12 offers, underscoring robust demand. Popular neighborhoods include Windsor Hills, Hyde Park, and Westchester-Playa Del Rey, which contribute to the area’s diversity of offerings and investor appeal. According to Homes.com, the city offers multi-family properties with prices ranging from $750,000 to as high as $19 million. From duplexes to large apartment complexes, the available properties offer options for both novice and seasoned investors interested in generating steady rental income.

Financial Summary 

Our sales analysis highlights how 713 Edgewood Street stands out relative to similar multifamily properties in the area, illustrating its favorable positioning in the Inglewood rental market. 

The seller, looking to capitalize on Inglewood’s growth while achieving their investment goals, found a successful exit at a competitive price. Inglewood’s favorable market dynamics and the property’s updated features and strong rental income potential were key factors in the sale’s success.

For the buyer, this transaction represented a strong value proposition and a foothold in one of LA’s most dynamic rental markets. The property’s assumable 4.7% interest-only loan (in place until 2027) provided a significant financial advantage, delivering a favorable cash-on-cash return that aligns well with current economic conditions. Additionally, the potential for adding 3-4 Accessory Dwelling Units (ADUs) on-site provides the buyer with further opportunities for growth.

The Group CRE Closing Process

From start to finish, our team provided end-to-end support, leveraging our deep market knowledge, targeted marketing strategies, and attention to client goals. This transaction underscores The Group CRE’s commitment to helping multifamily property owners navigate today’s market challenges and achieve optimal outcomes. Visit our website at TheGroupCRE.com to learn more.

List with The Group CRE

If you’re considering listing or selling in Los Angeles’s competitive market, our expert team at The Group CRE is here to provide tailored advice and maximize your asset’s potential. Contact us today to learn how we can leverage our expertise to achieve exceptional outcomes for you. Let’s make your investment goals a reality.

Taylor Avakian is the CEO and Managing Broker of The Group CRE, and First Vice President at LyonStahl. A trusted figure in the Los Angeles multifamily sector, has established himself through years of expertise and commitment to the real estate market including being a regular contributor to The Real Deal and Los Angeles Times. Taylor has appraised over 500 apartment buildings and facilitated transactions exceeding $200 million. Known for his strategic approach to investment opportunities and commitment to client success, Taylor combines innovative technology with market insights to deliver impactful results. 

If you're looking to sell your apartment building in Los Angeles, let us know how we can help.