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Listed by Avinash Narang, DRE #01448548 • BRC Advisors BH
$ 4,520,000
Est. payment | /mo
0.27 Acres Lot
$ 4,520,000
Est. payment | /mo
0.27 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRRS26228444
Year Built 1985
Lot Size 0.275 Acres
Source California Regional MLS
Property Description
Presenting 501 Hyde Park Place, a well-maintained 12-unit multifamily investment opportunity in North Inglewood. This three-story apartment building was constructed in 1985 and features approximately 11,040 square feet of building area on an approximately 11,967-square-foot lot. The property consists entirely of spacious two-bedroom, one-bathroom apartments, complemented by 24 gated carport parking spaces, providing two spaces per unit. A potential value-add opportunity exists to explore converting a portion of the carport area into Accessory Dwelling Units (ADUs). Investors may evaluate the feasibility of converting up to 12 parking spaces into additional residential units while potentially retaining one parking space per existing apartment, subject to City of Inglewood approval, applicable ADU regulations, building requirements, and independent buyer verification. The property has benefited from approximately $150,000 in owner-reported improvements, including select renovated kitchens and bathrooms, updated flooring, appliances, water heaters, laundry facilities, lighting, landscaping, and common-area enhancements. SB 721 work is reported completed. The investment offers a 5.00% current capitalization rate with estimated annual NOI of $226,016 and a projected 6.20% market ca
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Interior
Heating Wall Furnace
Laundry In Laundry Room, Laundry Area, Community Facility
Exterior
Garage Spaces 24.0
Pool None
Building
Story Three or More Stories
Water District - Public
Others
Tax ID 4014027020
Special Listing Condition Not Applicable
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