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PROBATE SALE – INGLEWOOD

INGLEWOOD, CA 90301

Property Type: Multi-Unit

Property Description

PROBATE SALE – INGLEWOOD

BY ORDER OF SUPERIOR COURT

612 E. QUEEN STREET

BROCHURE #519

LOCATION:   612 E. QUEEN STREET, INGLEWOOD, CA 90301 APN 4021-004-001

DIRECTIONS:   THOMAS GUIDE (L.A. COUNTY) P. 703, D-2. NORTH OF MANCHESTER BLVD., EAST OF SOUTH LA BREA AVENUE.  SHOW ME A MAP

DESCRIPTION:   2 STORY, 6 UNIT APARTMENT BUILDING IN THE VERY DESIRABLE CITY OF INGLEWOOD. THERE ARE (6) 1 BEDROOM, 1 BATH UNITS WITH LIVING ROOMS & KITCHENS. (6) 1 CAR GARAGES (4 DETACHED, 2 UNDER THE BUILDING). LAUNDRY ROOM WITH WASHER/DRYER HOOKUP. SEPARATE GAS & ELECTRIC METERS FOR EACH UNIT. ROOF REPLACED IN 2014. GREAT UPSIDE POTENTIAL. CLOSE TO SCHOOLS, SHOPPING & THE FORUM. PERSONAL PROPERTY NOT INCLUDED IN SALE. INGLEWOOD PRESALE INSPECTION REPORT, COPIES OF TENANT LEASES, WASHER/DRYER LEASE AND INCOME STATEMENT, COMMON AREA UTILITY BILLS AVAILABLE UPON REQUEST. NO RENT CONTROL IN INGLEWOOD,

INCOME/EXPENSES: MONTHLY INCOME
UNIT #1   $550. PER MONTH
UNIT #2   $500. PER MONTH
UNIT #3   $750. PER MONTH
UNIT #4   $525. PER MONTH
UNIT #5   $650. PER MONTH
UNIT #6   $555. + $20. FOR ADDITIONAL OCCUPANT
ALL UNITS RENTED MONTH TO MONTH.

LAUNDRY INCOME: (APPROXIMATE) $200± PER YEAR

OWNER MONTHLY EXPENSES: (APPROXIMATE)
WATER/TRASH   $230.±
GAS                               $ 15.±
ELECTRIC               $ 50.±

LOT SIZE:   7,293± SQ. FT.

ZONED:   INR3YY   SUBJECT TO GENERAL PLAN CONFIRMATION

TAXES:   PROPOSITION 13

ESTATE OF CHARLOTTE MERGELL

TERMS:   CASH. BUYER TO OBTAIN OWN FINANCING. FINANCING IS NOT A CONTINGENCY TO THIS SALE. PROPERTY SOLD IN “AS IS” CONDITION WITH NO CONTINGENCIES WHATSOEVER. PROPERTY SOLD SUBJECT TO ACCEPTANCE OR REJECTION BY THE ESTATE AND SUBJECT TO COURT CONFIRMATION.

ESCROW PERIOD:   45 DAYS OR SOONER

DEPOSIT:   $10,000 CASH OR CASHIER’S CHECK REQUIRED TO BID. BALANCE OF 10% DEPOSIT BY PERSONAL CHECK. CASHIER’S CHECK SHOULD BE MADE PAYABLE TO FLANS & WEINER, INC.. IN THE EVENT YOUR BID IS REJECTED, DEPOSIT WILL BE REFUNDED WITHOUT INTEREST.

TITLE:   SELLER TO PROVIDE STANDARD TITLE POLICY.

               PLEASE CALL FLANS & WEINER, INC. IF YOU HAVE ANY QUESTIONS REGARDING THIS PROPERTY OR THE AUCTION PROCESS (818) 501-4888.