627 Hill Street, Inglewood, CA 90302

$1,235,000
2
BD
3
BA
1,294
SqFt
Sold Price
$1,235,000
List Price
$1,150,000
Closing Date
Aug 31, 2023
Status
CLOSED
MLS#
PF23043121
Year Built
1951
Bedrooms
2
Bathrooms
3
Living Sq. Ft
1,294
Lot Size
11,404
Acres
0.26
Lot Location
Back Yard, Front Yard, Lawn, Near Public Transit, Value In Land, Yard
Days on Market
71
Property Type
Single Family Residential
Property Sub Type
Single Family Residence
Stories
One Level

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.

Additional Information

Other Buildings
Shed(s)
Appliances
Electric Range, Freezer, Disposal, Gas Oven, Gas Range, Microwave, Refrigerator, Dryer, Washer
Pool Description
None
Heat
Central
Cooling
Yes
Cooling Description
Central Air
View
Neighborhood
Patio
Concrete, Covered
Garage Spaces Total
1
Sewer
Public Sewer
Water
Public
School District
Inglewood Unified
Interior Features
Wet Bar, Built-in Features, Furnished, In-Law Floorplan, Quartz Counters, Recessed Lighting, All Bedrooms Down, Bedroom on Main Level, Main Level Master
Attached Structure
Detached
Number Of Units Total
1

Listing courtesy of Listing Agent: Judy Lin Young (Judy@RubyHome.com) from Listing Office: RubyHome Corporation.

Listing sold by Yasmina Vahali from Rodeo Realty- Brentwood

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

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Calculator source: Real Geeks

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.