621 S Osage Ave 8 Unit Apartment Building $2,861,636 CAD ($357,705 CAD/Unit) 6.47% Cap Rate Inglewood, CA 90301

Lee & Associates Apartment Advisors is pleased to present Osage Avenue Apartments, an eight unit apartment community situated in Inglewood. Constructed in 1961, Osage Avenue Apartments boasts a unit mix of three x 1 bedroom/1 bath, one x 2 bedroom/1 bath, two x 2 bedroom/1.75 bath, and two x 3 bedroom/1.75 bath apartments. The roof and water heater were recently replaced. The first floor units have private patios, and the second floor units have private balconies. On-site laundry is owned. Each unit has central HVAC, dual pane windows, solid core doors, and interior sound insulation, courtesy of the LAWA/Inglewood Sound Insulation Retrofit program. There are eight parking spaces. The property is subject to the city of Inglewood Rental Stabilization Ordinance.
Osage Avenue Apartments is located in central Inglewood, and is within walking distance of the KIA Forum, SOFI Stadium and the new Hollywood Park commercial shopping district. Costco, Target, Home Depot and Intuit Dome are within a five minute drive of the property.
Long known as the “City of Champions”, Inglewood is the gateway to LAX, and in recent years, has attracted multiple billion-dollar developments including SoFi Stadium, YouTube Theater, and Intuit Dome. The redevelopment of Hollywood Park into a master planned residential and entertainment district has transformed central Inglewood into a go to destination. The investment in the city has created thousands of permanent jobs, and has also generated significant demand for new residents, thereby driving growth in property values and rents.
The offering is an opportunity for an investor to acquire a well-maintained property in a high demand rental location with eighteen percent built in rental upside and priced well in excess of a 6% CAP rate.