10600 S Inglewood Ave · Lennox, CA 90304

$7,500,000

54 bd · 55.0 ba · 20,800 sqft · MultiFamily public records · 20 Days on market

Built 1957 0.66 ac lot

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.5/15.0
• 1% rule +7.0/10.0
• Schools +3.6/10.0
• Livability +3.0/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 54 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Presenting an exceptional investment opportunity in the County of Los Angeles, this 54 unit apartment building at 10600 Inglewood Avenue is located in the unincorporated community of Lennox, while benefiting from an Inglewood postal designation. Positioned near the Intuit Arena, SoFi Stadium, and the Los Angeles Forum, the property sits within one of the most dynamic and rapidly evolving rental markets in the region. The building features well designed studio apartments equipped with a cooling system, gas stoves, and gas wall heaters. It is master metered for gas and electricity, with many tenants participating in a RUBS program to support efficient utility cost recovery. Additional propert

Key facts

• Gas stoves
• Gas wall heaters
• Cooling system

Tags

• 54 UNIT APARTMENT BUILDING
• COOLING SYSTEM
• GAS STOVES
• GAS WALL HEATERS
• MASTER METERED FOR GAS
• 32 PARKING SPACES

Property features AI

Finance

• Other: Unit mix includes 1-bed and 2-type listing classifications
• Financial info: Gross income approximately $834,631; Gross operating income approximately $842,521; Net operating income approximately $470,487; Total annual expenses approximately $372,035; Cap rate 6.27%; Gross rent multiplier 8.99; Vacancy rate 1%; Rent examples: one 1-bed unit $1,700 (actual/projected), one studio unit listed at $1,280 (actual $67,853 across like units; projected $79,500); Total number of buildings: 1
• HOA & community: Complex contains 54 total units

Exterior

• Parking: Uncovered parking; 32 total parking spaces (all open)
• Security: No security features reported
• Utilities: No water, sewer, or power details provided
• Home design: Residential income property; Two levels (two-story building)
• Construction: No construction material, roof, foundation, or year built provided
• Exterior features: No other exterior structures

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: One 1-bedroom unit; Fifty-three studio/0-bedroom units
• Flooring: No flooring details provided
• Bathrooms: One 1-bath unit; Fifty-three 1-bath units
• Heating & cooling: Forced air heating; No cooling
• Interior features: No disclosures reported
• Laundry & utility: No laundry or utility appliance details provided

What this means for you Summary

Snapshot

• This is a 54 × 1-bed/1-bath units multifamily listed at $7.50M.

Deal economics

• At list price, monthly cash flow is $22k ($268k/yr) — positive. Per door: $413/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($90k rent vs $7.50M).
• Recommended offer: $7.39M (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#580 in CA) — a middle-class / working-renter tenant base. Strengths: commute A+, housing B; Watch: schools D+, employment D+, amenities D.
• Lennox (suburban): math 36% / reading 44% proficiency, ranked #771 of 1,400 in CA (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 23 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $90,063/mo this rent would consume 1685% of the median local household income ($64k/yr) (locally 1761% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $52k of loan paydown is wiped out by about $225k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($7.39M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $351k; list at $7.50M implies a 2035% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $7,387,500 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.20% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.76%
• DSCR: 1.57
• GRM: 6.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.29% rent growth · sell at horizon

5-year hold

• IRR: -0.4%
• Equity multiple: 0.98×
• Total profit: $-33,259
• Equity at exit: $1,118,274

10-year hold

• IRR: 6.3%
• Equity multiple: 1.41×
• Total profit: $870,315
• Equity at exit: $648,463

Cash invested: $2,100,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 90304

• Rents YoY: 0.3%
• Active inventory: 23
• Price-to-rent: 374.7×

Monthly cashflow live

• Estimated rent: $90,063 high
• Mortgage (P&I): −$39,331
• Tax from tax record: −$6,373 /mo · $76,472/yr
• Insurance: −$3,125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$18,913
• Net cashflow: $22,321

Break-even live

Break-even rent $61,808

Max offer price $7,500,000

Occupancy floor 70%

Sensitivity live

Price	-10% $26,567	-5% $24,444	+0% $22,321	+5% $20,199	+10% $18,076
Rent	-10% $15,206	-5% $18,764	+0% $22,321	+5% $25,879	+10% $29,436
Rate	-1.0pp $26,098	-0.5pp $24,229	base $22,321	+0.5pp $20,378	+1.0pp $18,401

54-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 54× units	1	1	$90,072
Total (54 units)			$90,063

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,875,000
• Closing costs: $225,000
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-05
   status Pending
2. 2026-04-15
   listed $7,500,000 Active
3. 2001-10-10
   historical
4. 2001-05-10
   listed $1,825,000
5. 1988-09-16
   soldstatus $351,360

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $76,472 · $6,373/mo
• Projected year-2 tax: $76,472 · $6,373/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥85°F today · 19 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $1,080,756
• − Mortgage interest: −$420,117
• − Property taxes: −$76,472
• − Insurance: −$37,500
• − Repairs & maintenance: −$86,460
• − Management: −$86,460
• − Depreciation: −$218,182
• Taxable income: $155,565
• Est. tax owed @ 24.0%: −$37,336
• After-tax cash flow: $230,520/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lennox
• NCES district ID: 0621420
• Math proficiency: 36% ▲ 5.00%
• Reading proficiency: 44% ▲ 7.00%
• Median HH income: $37,816
• Composite: 35.74/100
• National rank: #9655
• State rank: #771 of 1400 in CA

Livability — Lennox

• Score: 60/100
• State rank: #580
• US rank: #18867

Category grades

Amenities D Commute A+ Cost of living F Crime F Employment D+ Housing B Health & safety D User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lennox, CA
• County: Los Angeles County · 9,444,647 people
• City population: 26,215
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 25,430
• Household income: $64,125
• Rent vs Own: 72.9% rent · 27.1% own
• Severe rent burden: 1761.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 25% Asian 5% Black 4% Native American 3% White 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 71%
• Foreign-born: 46% · Canada, China
• Languages at home: 16% English-only · Spanish 79% Other Indo-European 2% Other Asian/Pacific 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -684.12%
• Current HPI: 446.8256
• Rent YoY: ▲ 0.29%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+2034.6% since first listed

5 events — show timeline

• 2026-05-05 Pending — TheMLS
• 2026-04-15 Listed $7,500,000 TheMLS
• 2001-10-10 Listing Removed — CRMLS
• 2001-05-10 Listed $1,825,000 CRMLS
• 1988-09-16 Sold (Public Records) $351,360 Public Records

Property tax history

+3.7%/yr

Latest (2025): $76,472 · +6.5% YoY. Source: county tax records.