$1,275,000
$1,425,000
10.5%For more information regarding the value of a property, please contact us for a free consultation.
128 N Hillcrest Blvd Inglewood, CA 90301
10 Beds
5 Baths
5,180 SqFt
Key Details
Sold Price $1,275,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 5,180 sqft
Price per Sqft $246
MLS Listing ID 26866763
Sold Date 09/09/26
Bedrooms 10
Year Built 1922
Lot Size 0.306 Acres
Acres 0.3062
Property Sub-Type Multi-Family
Property Description
Come build in the City of Champions! We are pleased to present the exclusive offering of 128 N Hillcrest Blvd, a rare value-add multifamily opportunity located on one of Inglewood's most desirable residential streets. The property consists of a 5-unit apartment community featuring a front fourplex and a detached back house, all situated on a massive lot with additional ADU potential. Originally constructed in 1922, the property experienced a fire in 2016 and has since undergone substantial reconstruction. Most of the heavy lifting has already been completed, creating a unique opportunity for a savvy investor or developer to finalize the project and unlock significant upside. All five units are spacious 2-bedroom layouts and the property will be delivered 100% vacant, allowing a new owner complete flexibility in executing their business plan without tenant relocation concerns.Positioned on arguably the premier street in all of Inglewood, Hillcrest Blvd is surrounded by high-end single family homes and benefits from strong neighborhood appeal, limited multifamily inventory, and continued growth driven by the surrounding Inglewood redevelopment. The property is being offered at an attractive basis of approximately $285,000 per unit and $275 per square foot. Based on projected stabilized operations, the asset is projected to achieve an 7.64% cap rate and 8.73 GRM before renovation completion costs, presenting investors with an exceptional opportunity to create substantial value in one of Southern California's fastest evolving rental markets.
Location
State CA
County Los Angeles
Area North Inglewood
Zoning INR3YY
Rooms
Other Rooms None
Interior
Heating Other
Cooling Other
Equipment None
Laundry In Unit
Exterior
Parking Features Carport
Garage Spaces 5.0
Pool None
Building
Story 2
Level or Stories Two
Others
Special Listing Condition Standard
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The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Bought with Crestico Realty