313 E Hazel St 6 Unit Apartment Building $2,311,719 CAD ($385,286 CAD/Unit) 6.76% Cap Rate Inglewood, CA 90302

ASSET
6 single-story units on a large 15,508-SF lot in north Inglewood. The property is comprised of (1) 3-bedroom/1-bathroom unit, (2) 2-bedroom/1-bathroom units, (2) 1-bedroom/1-bathroom units and (1) studio/1-bathroom unit. The 3-bedroom unit is spacious and has a large private backyard and new washer/dryer hook-ups. Three of the units have been recently renovated and the studio unit is currently vacant. Each unit has individual hot water heaters and updated electrical subpanels. The property features a new roof, new electrical, new drought-tolerant landscaping, an on-site laundry facility, 6 garage spaces and a large parking area at the rear. The large lot and parking areas present a desirable opportunity to add up to 6 ADUs or redevelop the property to an 11-unit apartment (Buyer to verify).
LOCATION
313 E. Hazel Street is located approximately 1.5 miles from SoFi Stadium and The Forum, and 2 miles from Intuit Dome. 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
This 4,886-SF apartment presents stable in-place rents as well as legitimate rental upside. The asset contains a current cap rate of 6.76% and current GRM of 10.51 and a pro-forma cap rate of 8.43% and pro-forma GRM of 8.90.