New Listing – 2-Unit Retail Building in Inglewood
Brett Lyon and Woody Stahl of Lyon | Stahl are pleased to present 701-707 S La Brea Ave, a 2-unit retail building in Inglewood!
This property is listed for $1,765,000
701-707 S La Brea Ave is a 2-unit retail building situated on a 5,061 island lot in the heart of Inglewood. The first tenant is a liquor store with a full liquor and beer license responsible for paying 2/3 of the property taxes; the second tenant is a Mexican restaurant on a month-to-month lease with substantial upside market rent potential. This property is located just blocks from the Sofi Stadium and Hollywood Park Entertainment District (set to debut in 2020) and in close proximity to the site of the multi-billion dollar development for the future Clippers Stadium. Currently stabilizing at a 4.7% CAP, this asset offers little management responsibility, strong cash flow, and tremendous growth potential due to its strategic location in the rapidly appreciating City of Inglewood.
• 3,311 SF of Retail Space I Situated on a 5,061 SF Parcel of Land (According to Assessor’s Records – Has Not Been Verified).
• Prime Location in Inglewood, Surrounded by Major Regional Development Projects
• 4.70% CAP Rate
• Onsite Parking & Street Parking
• Excellent Owner User Opportunity
• Easy Access to the 405 and 105 Freeways