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318 E Hazel St, Inglewood, CA 90302

$1,250,000

Description

Lyon Stahl is pleased to present 318 E Hazel St, a 4- unit apartment building (1-4 unit buildings will not be subject to Inglewood’s proposed rent control per the most recent ordinance dated June 17, 2019) 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 lowincome 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 July 17, 2019 at 6:55 pm

  • Price: $1,250,000
  • 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: 14.47
  • Market CAP RATE: 4.70%

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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