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Listing 14 out of 36
$1,279,000 For Sale

318 E Hazel Street
Inglewood, CA 90302

4 units | Multi Family Home
12101 sq ft lot - MLS# SB19091640
Property Photo
1/18

Description

1-4 unit buildings will not be subject to Inglewood’s proposed rent control per the most recent ordinance dated June 17, 2019. 318 E Hazel St is a 4- unit apartment building (not subject to rent control) 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.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • Zip Code: 90302
  • Year Built: 1939
  • Units: 4 units
  • Lot Size: 12101 sq ft lot
  • Zoning: INR3YY
  • Area: 101 - North Inglewood
  • Average 2 Bed Area Units: Square Feet
  • Average 3 Bed Area Units: Square Feet
  • Average Studio Area Units: Square Feet
  • Building Area Total: 3524.00
  • Building Area Units: Square Feet
  • Cap Rate: 2.76
  • Co-Listing Agent License: 01717818
  • Co-Listing Office License: 01972083
  • Community Features: Curbs, Gutters, Sidewalks, Storm Drains, Street Lights
  • Country: US
  • Directions: South side of Hazel near the intersection of Centinela
  • Gardener Expense: 1200.00
  • Gross Income: 54300.00
  • Gross Multiplier: 20.80
  • Gross Scheduled Income: 61500.00
  • Insurance Expense: 1414.00
  • Laundry Features: Community
  • Laundry YN: Yes
  • Listing Agent License: 01399621
  • Listing Office License: 01972083
  • Lot Features: Back Yard, Front Yard, Landscaped, Lawn, Yard
  • Lot Size Area: 12102.0000
  • Lot Size Source: Assessor
  • Lot Size Units: Square Feet
  • MLS: CRM
  • Maintenance Expense: 1845.00
  • Net Operating Income: 35256.00
  • New Taxes Expense: 15511.00
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 4
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Operating Expense: 23169.00
  • Other Expense: 3200.00
  • Other Expense Description: Utility
  • Rent Control YN: Yes
  • Sewer: Public Sewer
  • Total Expenses: 23169.00
  • Water Source: Public
  • Year Built Source: Assessor
Courtesy of Lyon Stahl Investment Real Estate, Inc., J.woody Stahl

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Michael Clark
Home Team Realty

2501 W. 237th Street #C
Torrance, CA 90505
Phone: 310-920-2967
Email: mcsouthbay@yahoo.com
DRE #00425966

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