342-344 E Hazel St, Inglewood, CA 90302

342-344 E Hazel St, Inglewood, CA 90302

Inglewood, CA

Property Description

342-344 E Hazel Street is a 9-unit apartment building located in the heart of Inglewood offering the opportunity to own a property with over 50% upside in rental income. The 9,800 sq ft building sits on a 10,575 sq ft lot, and is comprised of a strong unit mix of all townhouse style 2 bedroom/2 bathroom units. Each unit has one dedicated garage parking spot with storage. The property also provides a laundry room that can generate additional income. The premises resides in the La Brea Centinela neighborhood, where only 16% of residents are homeowners. Conveniently located just few short blocks from Centinela Ave, Florence Ave, and La Brea Ave, and less than two miles from the 405 Freeway, this is an opportunity for an investor to own a property in a high demand rental market with tremendous growth potential.

Located less than 2 miles from the new City of Champions Revitalization Initiative, this property is set to benefit from the stimulation and energy the 890,000 square feet of retail space, 25 acres of park and open space, revamped casino, performing arts venue and numerous fine dining restaurants it will bring.

Property Features

  • Sale Price: $2,350,000
  • Area Size: 9,800 SF
  • Land Area: 10,575 SF
  • Year Built: 1987
  • Closing Date: 9/30/19
  • Units: 9
  • Current GRM: 15.83
  • Price Per Unit: $277,778
  • Market GRM: 10.07
  • Market Cap Rate: 6.83%

Lyon Stahl Investment Real Estate

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