627 Hill Street
Inglewood, CA 90302
- 2 beds
- 3 baths
- 1,294 sqft
- 11,404 sqft lot
- $954 per sqft
- 1951 build
- – on site
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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.
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Last updated Sep 1, 2023
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MLS# PF23043121 —
Walk Score®
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Soundscore™
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Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
6/5/23
Jun 5, 2023
|
BRIDGE | $1,150,000 | ||
|
6/5/23
Jun 5, 2023
|
Listed / Active | BRIDGE | ||
|
3/16/23
Mar 16, 2023
|
Listed / Active | CRMLS_CA |