Closed – 5 Units on Hyde Park Pl in Inglewood | $1,150,000

Closed – 5 Units on Hyde Park Pl in Inglewood | $1,150,000

Congratulations to Mike Fisher, Austin Zahn, and Woody Stahl of Lyon | Stahl Investment Real Estate for closing 539 E Hyde Park Pl, a 5-unit apartment in Inglewood.

This 4,230 SF building situated on a 5,999 SF parcel of land sold for $1,150,000!

This building boasts a unit mix of one (1) 3-bed/2.5 -bath, one (1) 2-bed/1-bath, two (2) 1-bed/1-bath, and one (1) studio. The property also features a gated parking area with 8 garages, along with an abundance of street parking for both residents and visitors.

539 Hyde Park Pl. is centrally located near schools, restaurants, and retailers, while also being in close
proximity to the Forum, LAX, and future Hollywood Park Stadium. Given its great location and value-add potential,
this property is a great opportunity for any investor looking to capitalize on prime Inglewood real estate!

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Investment Highlights:

  • 4,230 SF building situated on a 5,999 SF parcel of land
  • Desirable unit mix: (1) 3-bed/2.5-bath, (1) 2-bed/1-bath, (2) 1-bed/1-bath, & (1) studio unit
  • Huge upside in market rent potential | Pro forma CAP Rate – 5.36% & 11.64 GRM
  • Price per unit of $250,000 | Price per sq. ft. of $295.51
  • Enclosed parking area in back with 8 garages | Plenty of surrounding street parking
  • Value-add opportunity – sold in “as is” condition
  • Mostly vacant and does not qualify for conventional financing
  • Close proximity to schools, restaurants, retailers, & the 405 FWY
  • Only a short commute to the Forum, LAX, & Hollywood Park Stadium site

 

Area Overview: 

Inglewood is a city in the South Bay region of Los Angeles that is bordered by Westchester/LAX, Hawthorne, and Ladera Heights. Spanning 8 square miles with a population
of 109,670, Inglewood has emerged as one of the hottest real estate markets in Southern California. Real estate values have increased 10.1% over the past year and the median price of homes currently listed in Inglewood is $480,000.

The majority of residents are served by the Inglewood Unified School District. Wilder’s Preparatory Academy Charter School is the best public elementary school in the city, and high schools include Inglewood High, Morningside High, City Honors High, and Hillcrest High School. The private schools in the area include St. Mary’s Academy and St. John Chrysostom Elementary School.

Inglewood is also home to the illustrious Forum, which was designed by architect Charles Luckman, who also designed Madison Square Garden in New York.  The Forum is now the largest indoor performance venue in the country with a design focused on music and entertainment.

The Los Angeles Stadium at Hollywood Park is under construction in Inglewood and when completed in 2020, it will be the home of both the Los Angeles Rams and Los Angeles Chargers. The Los Angeles Stadium is also expected to host the Super Bowl in 2021 and the 2028 Summer Olympics.

 

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