$1,235,000
$1,150,000
7.4%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
3 Baths
1,294 SqFt
SOLD DATE : 08/31/2023
Key Details
Sold Price $1,235,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 1,294 sqft
Price per Sqft $954
MLS Listing ID PF23043121
Sold Date 08/31/23
Bedrooms 2
Full Baths 3
Construction Status Additions/Alterations,Updated/Remodeled,Turnkey
HOA Y/N No
Year Built 1951
Lot Size 0.262 Acres
Property Description
ATTENTION INVESTORS, OWNER USERS, DEVELOPERS! We proudly present a single-family, investment property at 627 Hill St. in prime North Inglewood, California, two miles north of the excitement of SoFi Stadium and Hollywood Park. Rarely does an opportunity like this come on the market, move-in ready for an owner user who can later develop multiple units on an expansive, R3-zoned, 11,404sf lot and or for an investor capitalizing on high rents commanded by an ideal investment. This 2-bedroom plus den, 3-full bath home has 3 separate entrances, currently utilized as a 3-unit investment property through Airbnb long-term leasing. The current owner fully renovated the property in 2021 and has spent considerable time and resources to position it for maximum profitability on Airbnb and other rental platforms, optimizing operations to ensure high consumer satisfaction, positive reviews, and return leasing. A new investor won’t need to create a business plan. The investment opportunity suits both short-term and long-term capital deployment. Actual gross income for long term monthly leasing is about $96,000/year with a 5.83% CAP rate based on new tax!
Inglewood is 5 miles east of LAX, 10 miles southwest of Downtown LA, and is home to SoFi Stadium, an entertainment and sports destination that is home to the Los Angeles Rams and the Los Angeles Chargers. It will host the College Football Championship Game in 2023 and the Opening/Closing Ceremonies of the Olympic Games in 2028. SoFi is the centerpiece of Hollywood Park, a 298-acre mixed-use development featuring retail, commercial office space, a hotel, residential units, and outdoor park spaces. A stadium shuttle from the Metro C Line goes directly to SoFi. Because of these attractions and its central location in metro Los Angeles with its proximity to LAX, beaches, and commerce, the Inglewood real estate market has experienced exponential growth the last few years. There is high demand for homes in Inglewood as investor sentiments for the area remain bullish, forecasting above average appreciation in property values.
Location
State CA
County Los Angeles
Area 101 - North Inglewood
Zoning INR3YY
Rooms
Other Rooms Shed(s)
Main Level Bedrooms 2
Interior
Interior Features Wet Bar, Built-in Features, Breakfast Area, Furnished, In-Law Floorplan, Quartz Counters, Recessed Lighting, All Bedrooms Down, Bedroom on Main Level, Main Level Primary, Primary Suite
Heating Central
Cooling Central Air
Flooring Tile, Wood
Fireplaces Type None
Fireplace No
Appliance Electric Range, Freezer, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Dryer, Washer
Laundry Washer Hookup, Electric Dryer Hookup, In Garage
Exterior
Garage Driveway, Garage
Garage Spaces 1.0
Garage Description 1.0
Pool None
Community Features Curbs, Street Lights, Sidewalks
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected
View Y/N Yes
View Neighborhood
Accessibility Safe Emergency Egress from Home
Porch Concrete, Covered
Parking Type Driveway, Garage
Attached Garage Yes
Total Parking Spaces 1
Private Pool No
Building
Lot Description Back Yard, Front Yard, Lawn, Near Public Transit, Value In Land, Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
Additional Building Shed(s)
New Construction No
Construction Status Additions/Alterations,Updated/Remodeled,Turnkey
Schools
School District Inglewood Unified
Others
Senior Community No
Tax ID 4017003004
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing Cash
Special Listing Condition Standard
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Bought with Yasmina Vahali • Rodeo Realty- Brentwood
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "