ASSET
5-unit apartment located in the desirable northwestern pocket of Inglewood.
Situated on a 7,020-SF lot, the property is comprised of (one) 3-bedroom/2.5-bathroom townhouse unit, (one) 2-bedroom/1-bathroom unit and (three) 1-bedroom/1-bathroom units.
The building has a new roof and the units contain new electrical subpanels. Furthermore, the property was recently painted and features new drought-tolerant landscaping, private patios and a total of 7 parking spaces.
LOCATION
This 4,648-SF apartment is located approximately 2 miles from SoFi Stadium and The Forum, and 2.5 miles from Intuit Dome (NBA Clippers Arena). It is also conveniently located near Hollywood Park, Youtube Theatre, Crenshaw/LAX Metro Line Station, SpaceX, Tesla, LAX Airport and Upcoming $1 Billion Inglewood Transit Connector Project.
FINANCIALS
132 W. Hillsdale Street presents tremendous upside with rents that are +/-25% below market. Priced at a pro-forma cap rate of 7.46% and pro-forma GRM of 9.42, the asset provides spectacular upside potential in an incredibly strong location. Two of the units have rents which are less than 80% Inglewood FMR and therefore should qualify for the maximum allowable increase of 8% (5% + 3% CPI), when rent increases are applicable (Buyer to verify). The property also contains stable in-place rents with a current cap rate of 5.42% and current GRM of 11.76.
Buyer to conduct their own due diligence and investigation. Please do not disturb tenants.