$4,520,000
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 capitalization rate with estimated market NOI of $280,143, providing additional rental upside potential.
Conveniently situated near SoFi Stadium, the Kia Forum, LAX, and the 405 Freeway, with access to major Los Angeles employment centers, shopping, dining, and entertainment destinations. An attractive opportunity to acquire a multifamily asset with a desirable unit mix, substantial improvements, potential ADU development opportunities, and income growth potential.
RS26228444
MLS
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Active
Status
501 Hyde Park, Inglewood
