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Mixed-Use Opportunity in Inglewood | $800,000

Mixed-Use Opportunity in Inglewood | $800,000

Lyon | Stahl is pleased to present this rare mixed-use opportunity in Inglewood, CA. This property consists of (2) storefront retail units and a house in the rear, totaling 1,702 SF of GLA. Situated on 4,157 SF of land, this property is well located near the busy intersection of Inglewood Ave & Lennox Blvd with traffic counts exceeding 20,000 VPD, granting it plenty of exposure. The property is currently generating $3,500 gross / month. The Barber Shop has 16 months left on the lease and the other two tenants are on month-to-month leases, giving the property plenty of tenant flexibility. With over 40 feet of frontage and plenty of street parking, this property would be an ideal investment for anybody trying to acquire real estate in the highly soughtafter Inglewood market.

 

Listed at $800,000, this building was built in 1941, has a cap rate of 4.12% and a NOI of $32,952.

 

Investment Highlights:

• 1,702 SF building situated on 4,157 SF of land
• Rare mixed-use property with (2) storefront retail units and a house in the rear
• Property is generating $3,500 gross / month
• Barber Shop – 16 months left on lease | Botanica & house are currently month-to-month
• Prime location near the intersection of Inglewood Ave & Lennox Blvd
• High traffic volume — exceeding 20,000 VPD

 

 

.City Overview: 

The $2.6 billion 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. The Light Rail Metro Expansion is expected to add 4 new Inglewood stops by 2019. There are plans to revamp the Downtown Arts District by 2020.
Breaking News: The Inglewood City Council will vote on an exclusive negotiating agreement for a Clippers-controlled company to build an area for the team.
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. For decades, the Forum was one of LA’s most prominent concert venues, hosting the likes of Elvis Presley, Led Zeppelin, and the Jackson 5. It was also home to the Los Angeles Lakers before the team moved to the Staples Center in 1999. The Forum is now the largest indoor performance venue in the country with a design focused on music and entertainment.

City Projects:

The new home for the Los Angeles Chargers and Rams will be the largest stadium in the NFL. Costing upwards of $2.5 billion the 3 million square foot stadium will be able to seat 70,240. The price tickets are also expected to rise with season tickets predicted to cost $350-400 per game. Construction is scheduled to be complete in 2020. The NFL stadium is only one part of a larger plan. The area around the stadium known as Hollywood Park is also under construction and will include about 3,000 new residential units, 620,000 square feet of shops and restaurants, green space including a manmade lake, and lastly a revamped casino. The new Hollywood Park is expected to be completed in 2023.

 

 

 

The NFL stadium isn’t the only professional sporting arena bound for Inglewood. It’s looking very likely that the Clippers will move out of Downtown LA’s Staples Center and into the South Los Angeles city. Details about the NBA arena, which would occupy land along Century Boulevard, have been scarce. But in February, the city released a short document that spells out it would seat 18,000 fans and would be joined by a new practice facility, retail space, and outdoor plazas with basketball courts that are open to the public.

 

To learn more about this property:

 

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