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$ 1,425,000
Est. payment /mo
New
128 N Hillcrest BLVD Inglewood, CA 90301
10 Beds
5 Baths
5,180 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,180 sqft
Price per Sqft $275
MLS Listing ID 26866763
Bedrooms 10
HOA Y/N No
Year Built 1922
Lot Size 0.306 Acres
Property Description
Come build in the City of Champions! We are pleased to present the exclusive offering of 128 N Hillcrest Blvd, a rare value-add multifamily opportunity located on one of Inglewood's most desirable residential streets. The property consists of a 5-unit apartment community featuring a front fourplex and a detached back house, all situated on a massive lot with additional ADU potential. Originally constructed in 1922, the property experienced a fire in 2016 and has since undergone substantial reconstruction. Most of the heavy lifting has already been completed, creating a unique opportunity for a savvy investor or developer to finalize the project and unlock significant upside. All five units are spacious 2-bedroom layouts and the property will be delivered 100% vacant, allowing a new owner complete flexibility in executing their business plan without tenant relocation concerns.Positioned on arguably the premier street in all of Inglewood, Hillcrest Blvd is surrounded by high-end single family homes and benefits from strong neighborhood appeal, limited multifamily inventory, and continued growth driven by the surrounding Inglewood redevelopment. The property is being offered at an attractive basis of approximately $285,000 per unit and $275 per square foot. Based on projected stabilized operations, the asset is projected to achieve an 7.64% cap rate and 8.73 GRM before renovation completion costs, presenting investors with an exceptional opportunity to create substantial value in one of Southern California's fastest evolving rental markets.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Interior
Fireplace No
Exterior
Parking Features Carport
Pool None
Total Parking Spaces 5
Private Pool No
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4021003012
Special Listing Condition Standard
Listed by John Katnik BRC Advisors- BH #02002695
Tammy Roberts
Selling Residential, Commercial, Investment, Land | License ID: 01911428