CBC Advisors is proud to present this 12,944-square foot, thirteen-unit* apartment building located at 533 Evergreen Street in Inglewood, California. The property is located in the highly desirable northwest pocket of Inglewood, conveniently situated within a short distance of the Forum, Hollywood Park Tomorrow development site, and the proposed NFL Stadium. It is also located near the new metro station (Crenshaw/LAX Line), the LAX airport and the many retail shops of West Centinela Avenue and La Cienega Boulevard. Bordered by the 405 and 105 Freeways, the investment possesses immediate transit to the many other neighbouring employment centers such as Northrop Grumman, Tesla, Raytheon, Howard Hughes Parkway and SpaceX.
Situated on a 12,127-square foot lot, the offering boasts an outstanding unit mix of seven two-bedroom/two-bathroom units, five one-bedroom/one-bathroom units and one non-conforming studio. Two the two-bedroom units have private patios. All of the two-bedroom units contain two bathrooms which allows for stronger marketability and rent potential. Most of the units have private balconies. The building is individually metered for gas and electricity and contains gated parking. Furthermore, there is an on-site laundry facility which generates additional income.
533 Evergreen Street provides an investor with the opportunity to own in one of the most desirable and sought-after pockets of Inglewood. This non-rent controlled, 1969 vintage, turnkey asset is centrally located and consists of an outstanding unit mix. The property contains over 12% in rental upside with a pro-forma cap rate of 4.97% and a pro-forma grm of 13.55.
*Buyer to verify. One unit is non-conforming.
