521 S Flower St, Inglewood, CA 90301

521 S Flower St, Inglewood, CA 90301

Inglewood, CA
$1,350,000

Property Description

We are pleased to present 521 S Flower Street, a 12-unit redevelopment opportunity in the City of Inglewood. The plans for 521 S Flower Street are for a three-story, 11,366 SF new construction apartment building. The development site received Planning Approval from the City of Inglewood and will be Ready to Issue Permits in approximately 2-3 months. There is currently a 4-unit building on the property with one vacancy allowing the builder to continue to collect the cash flow prior to construction. The design for 521 S Flower Street is a diversified unit mix of two (2) studios, two (2) one?bedroom units, one (1) two-bedroom one-bathroom unit, two (2) three-bedroom one-bathroom units, and five (5) three-bedroom two-bathroom units. One unit will be designated to low income. The design includes twelve (12) parking spots on the ground floor.

Property Features

  • Sale Price: $1,350,000
  • Area Size: 9,986 sf
  • Listing Date: 03/12/2024
  • Units: 4
  • Current GRM: 13.71
  • Current Cap Rate: 5.05%
  • Price Per Unit: $475,000
  • Market GRM: 13.71
  • Market Cap Rate: 5.05%
  • Current NOI: $287,621

Lyon Stahl Investment Real Estate

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