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318 E Hazel St, Inglewood, CA 90302

$1,279,000

Description

Lyon Stahl is pleased to present 318 E Hazel St, a 4- unit apartment building located in the best part of Inglewood – less than one mile from the new Hollywood Park neighborhood development and future NFL Stadium! This 3,534 sq. ft. building is near the Metro Crenshaw/LAX line – inside the Transit Oriented Development Plan and Design zone. Since it is in a TOD zone, this massive 12,102 sq. ft. lot would be an excellent development opportunity with the ability to build eight (8) units or eleven (11) units, if low-income housing is included (per planning department). Setback and parking requirements for properties in TOD zones are also less stringent, requiring only 1.5 spaces per unit of 2- bedrooms or more. Given the development upside and prime Inglewood location, this property is a great opportunity for any investor or developer.

Investment Highlights:
• 3,534 SF Building Situated on a Massive 12,102 SF Lot | Built in 1939
• Unit Mix – (1) 3-Bed/1-Bath Front House (w/ Fireplace) & (3) 1-Bed/1-Bath Units. Two of the Four Units Can Be Delivered Vacant
• Prime Fairview Heights (Historic Residential Neighborhood) Location Proximity to the Metro Crenshaw/LAX Line (in a TOD zone)
• R3 Zoning – 1,400 SF of Land Per Dwelling Unit
• Per Planning Department – You Can Build 8 Units or Up to 11 Units (w/ Low Income Housing)
• Setback & Parking Requirements Reduced – 1.5 Spaces Per Unit of 2-Bedrooms or More
• Less Than One Mile From the New Hollywood Park Stadium Development

Property Downloads

Address

  • City: Inglewood
  • State/county: CA
  • Country: United States

Detail

Updated on May 22, 2019 at 6:01 pm

  • Price: $1,279,000
  • Property Size: 3,524 Sq Ft
  • Land Area: 12,102 Sq Ft
  • Year Built: 1939
  • Property Type: Multifamily
  • Property Status: Active
  • Numbers of Units: 4
  • Market GRM: 14.80
  • Market CAP RATE: 4.61%

Contact info

Woody Stahl
Woody Stahl
(310) 880-0926(310) 710-3829
Linkedin
Brett Lyon
Brett Lyon
(310) 880-5328(310) 780-1899
Linkedin

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