Inglewood, CA 90301,222 Lime ST
Inglewood, CA 90301,222 Lime ST
Inglewood, CA 90301,222 Lime ST
Inglewood, CA 90301,222 Lime ST
Inglewood, CA 90301,222 Lime ST
Inglewood, CA 90301,222 Lime ST
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$ 1,549,000
Est. payment | /mo

6,006 Sqft Lot


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$ 1,549,000
Est. payment | /mo
Save

6,006 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW25121739

Construction Status Updated/Remodeled

HOA Y/N No

Year Built 1966

Lot Size 6,006 Sqft

Property Sub-Type Quadruplex

Property Description

222 Lime is a true cash cow investment opportunity located in the vibrant Downtown Inglewood neighborhood. Currently generating $6,656 per month in actual rents—which equals $79,872 annually—this property also boasts strong upside with potential proforma rents of $11,693 per month or $140,316 annually at full market occupancy. This significant income gap highlights the property's compelling potential for value growth and increased cash flow. These figures do not even include an estimated additional $1,800 per year in laundry income, further enhancing the investment's profitability.

Situated in an area undergoing major revitalization, 222 Lime offers excellent walkability with a Walk Score of 82, placing everyday amenities, dining, public transit, and entertainment venues within easy reach. The property is conveniently close to major attractions like SoFi Stadium and the Inglewood Basketball and Entertainment Center, making it a highly desirable location for tenants seeking an active, connected lifestyle.

The building features a spacious and versatile mix of unit types, including a large, two-story 3-bedroom, 2.5-bath unit with a private balcony, two 2-bedroom units, and a 1-bedroom unit. Recent upgrades include a large, relatively new water heater serving all units, central heating and air conditioning throughout with three of the four AC units newly installed, and individually metered utilities comprising five gas meters, four electric meters, and one water meter, ensuring efficient cost management.

Owner-owned laundry machines and range/oven units help reduce tenant expenses while providing reliable appliances. All units feature dual-pane windows and sound-insulated doors installed under the Inglewood Sound Insulation Program, enhancing tenant comfort and quiet. Unit C has new carpeting and recently renovated bathrooms, while Unit D offers new kitchen cabinetry with elegant quartz countertops.

222 Lime represents a rare chance to own a high-performing, cash-flowing asset in one of Inglewood's most dynamic and walkable communities, perfectly positioned to benefit from the city's ongoing transformation and growth.

Location

State CA

County Los Angeles

Area 101 - North Inglewood

Zoning INR3YY

Interior

Heating Central

Cooling Central Air

Fireplaces Type Family Room

Fireplace Yes

Appliance Electric Oven, Gas Range

Laundry Common Area

Exterior

Parking Features Assigned

Carport Spaces 6

Pool None

Community Features Suburban

View Y/N Yes

View Neighborhood

Total Parking Spaces 6

Private Pool No

Building

Lot Description Yard

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Updated/Remodeled

Others

Senior Community No

Tax ID 4020014014

Acceptable Financing Cash to New Loan, Conventional, 1031 Exchange, FHA, VA Loan

Listing Terms Cash to New Loan, Conventional, 1031 Exchange, FHA, VA Loan

Special Listing Condition Standard

California Regional MLS (CRMLS)
Listed by Bret Lewis • Bret Lewis, Broker • 480-225-6616

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222 Lime ST