Sold – 12 Units in Northwest Inglewood | $3,475,000
Brett Lyon and Woody Stahl of Lyon | Stahl Investment Real Estate are pleased to have closed 501 Hyde Park Pl, a 12-unit apartment building in Inglewood!
This property sold for $3,475,000
This 11,040 SF building was built in 1985 and is situated on a 11,966 SF corner lot at the signalized intersection of Field and Centinela Avenue (22,474 vehicles per day). 501 Hyde Park Pl. offers an ideal unit mix of all 2-bed/1-bath units separately metered for gas & electric. The building features on-site laundry and two gated tuck-under parking spaces for each unit.
Given the property’s ideal location, strong unit mix, and significant upside rent potential, 501 Hyde Park Pl is an excellent investment opportunity for any investor seeking growth, stability, and a hedge against inflation.
• Well-Maintained 12-Unit Building Consisting of All 2-Bed/1-Bath Units
• 11,040 SF of Living Space Situated on a 11,966 SF Lot
• Currently Operating at a 4.20% CAP & 14.41 GRM | Pro Forma 5.67% CAP & 11.58 GRM
• Enclosed Parking Provides for Two Spaces/Unit.
• Only a Short Commute to the Forum, LAX, & Future Hollywood Park Stadium Development
• Drought Resistant Landscaping.
The City of Inglewood is currently experiencing an enormous revitalization, bringing the new Hollywood ParkRedevelopment, slated to be the world’s most expensive sports stadium. In addition to the stadium, the development will bring 3,000 new housing units, a luxury hotel and approximately 620,000 SF of new retail. Along with the Hollywood Park Redevelopment, the Los Angeles Clippers are in negotiations to build their new stadium just south of Hollywood Park. With all the new development occurring in Inglewood and the rapidly changing demographics of the city, 527 West Hyde Park Boulevard offers an astute investor the opportunity to capitalize on the swiftly appreciating submarket and realize a tremendous return on their investment.
• Brett Lyon
• Woody Stahl