offering memorandum 933 e hyde park blvd inglewood, … · 933 e hyde park blvd inglewood, ca 90302...

OFFERING MEMORANDUM

933 E HYDE PARK BLVD

INGLEWOOD, CA 90302

BRETT LYON

(310) 780-1899

[email protected]

LIC. 01717818

WOODY STAHL

(310) 710-3829

[email protected]

LIC. 01399621

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INGLEWOOD, CA 90302

LYON STAHL INVESTEMENT REAL ESTATE • 2

TABLE OF CONTENTS

THE PROPERTY 3

Property Overview / Highlights

Property Photographs

Floor Plan

Local Map

Aerial Map

THE FINANCIALS 14

Financial Overview

Rent Roll

COMPARABLES 17

Sold Comparables

Sold Comparables Map

Lease Comparables

Lease Comparables Map

On-Market Comparables

On-Market Comparables Map

THE LOCATION 24

City Overview

County Overview

DISCLAIMER AND CONFIDENTIALITY AGREEMENT 30

OFFERING MEMORANDUM


INGLEWOOD, CA 90302

LYON STAHL INVESTMENT REAL ESTATE

PROPERTY

OVERVIEW


INGLEWOOD, CA 90302


PROPERTY OVERVIEW

PROPERTY SUMMARY

PRICE $1,175,000

ADDRESS 933 E Hyde Park

CITY, STATE, ZIP Inglewood, CA 90302

COUNTY Los Angeles

YEAR BUILT 1963

NUMBER OF UNITS 4

BUILDING SIZE 3,738 SF

LOT SIZE 5,394 SF

CAP RATE 3.65%

PRO FORMA CAP RATE 5.10%

GRM 17.07

PRO FORMA GRM 13.60

PRICE / BLDG SF $314.34

PRICE / LOT SF $217.83


INGLEWOOD, CA 90302


PROPERTY OVERVIEW

Lyon I Stahl is pleased to present 933 E Hyde ParkBlvd, a 4-unit apartment building located in thedesirable Northwest pocket of Inglewood, just a shortdistance to the Forum, future NFL Stadium, and LAX.This 3,738 SF building was built in 1963 and is situatedon a 5,394 SF lot. 933 E Hyde Park Boulevard offers agreat unit mix of one (1) 3-bed/2-bath unit, one (1) 2-bed/1-bath unit and two (2) 1-bed/1-bath unitsseparately metered for gas & electric. The buildingfeatures on-site laundry and four covered parkingspaces.

This is an excellent opportunity for a potential investorto obtain 30-year fixed residential financing whilerates are at a historical low. Located just two milesNorth of the Inglewood multi-billion dollardevelopments, 933 E Hyde Park Boulevard is anexcellent investment opportunity with significantupside and long term appreciation potential.

• Well-Maintained 4-Unit Building Consisting of (1) 3-Bed/2-Bath Unit, (1) 2-Bed/1-Bath Unit & (2) 1-Bed/1-Bath Units

• 3,738 SF of Living Space Situated on a 5,394 SF Lot

• Covered Parking Provides for One Space/Unit

• Currently Operating at a 3.65% CAP & 17.07 GRM| Pro Forma 5.10% CAP & 13.60 GRM

• Only a Short Commute to the Forum, LAX, & SoFiStadium Development


INGLEWOOD, CA 90302


PROPERTYPHOTOGRAPHS


INGLEWOOD, CA 90302


AERIALPHOTOGRAPHS


INGLEWOOD, CA 90302


SOFI STADIUMDEVELOPMENT


INGLEWOOD, CA 90302


UNIT 1FLOOR PLAN


INGLEWOOD, CA 90302


UNIT 2FLOOR PLAN


INGLEWOOD, CA 90302


UNIT 3FLOOR PLAN


INGLEWOOD, CA 90302


UNIT 4FLOOR PLAN


INGLEWOOD, CA 90302


AERIAL MAP

OFFERING MEMORANDUM


INGLEWOOD, CA 90302


FINANCIAL

OVERVIEW


INGLEWOOD, CA 90302


FINANCIAL OVERVIEW


INGLEWOOD, CA 90302


RENT ROLL

OFFERING MEMORANDUM


INGLEWOOD, CA 90302


COMPARABLES


INGLEWOOD, CA 90302


Address Price Units Year BuiltBuilding

SizePrice/Unit Price/SF Cap Rate GRM DOM

Averages $989,167 3.33 1948 2,382 SF $287,132 $499 3.81% 20.93 75 Days

1

2

3

4

SOLDCOMPARABLES

5

6


INGLEWOOD, CA 90302


SOLDCOMPARABLES MAP


INGLEWOOD, CA 90302


Address Price Units Year BuiltBuilding

SizePrice/Unit Price/SF Cap Rate GRM DOM

Averages $1,159,750 4 1949 2,652 SF $308,667 $589.24 3.36% 23.21 143 Days

1

2

3

4

ON-MARKETCOMPARABLES


INGLEWOOD, CA 90302


ON-MARKETCOMPARABLES MAP


INGLEWOOD, CA 90302


Address Date Leased Unit Type Unit Size Rental Rate

Averages October 2019 N/A 597 SF $1790.83

1

2

3

4

LEASE COMPARABLES

5

6


INGLEWOOD, CA 90302


LEASE COMPARABLES MAP

OFFERING MEMORANDUM


INGLEWOOD, CA 90302


LOCATION


INGLEWOOD, CA 90302


CITY OVERVIEW

The City of Inglewood is currently experiencing an enormous revitalization, bringing the new Hollywood Park

Redevelopment, slated to be the world’s most expensive sports stadium. In addition to the stadium, the

development will bring 3,000 new housing units, a luxury hotel and approximately 620,000 SF of new retail.

Along with the Hollywood Park Redevelopment, the Los Angeles Clippers are in negotiations to build their new

stadium just south of Hollywood Park. With all the new development occurring in Inglewood and the rapidly

changing demographics of the city, 527 West Hyde Park Boulevard offers an astute investor the opportunity

to capitalize on the swiftly appreciating submarket and realize a tremendous return on their investment.


INGLEWOOD, CA 90302


The new home for the Los Angeles Chargers and Rams will be the largest stadium in the NFL. Costing nearly $5 Billion ($4.963 Billion), the 3 Million sq. ft.

stadium is set to be the largest stadium in the NFL and will be able to seat 70,240. The price tickets are also expected to rise with season tickets

predicted to cost $350-400 per game. Construction is 60% complete and is scheduled to be ready for the 2020. The stadium will also host the 2022 Super

Bowl.

The NFL stadium is only one part of a larger plan. The area around the stadium, known as Hollywood Park, is also under construction and will include

about 3,000 new residential units, 620,000 square feet of shops and restaurants, green space including a manmade lake, and lastly a revamped casino.

The new Hollywood Park is expected to be completed in 2023.

CITY PROJECTS


INGLEWOOD, CA 90302


CITY PROJECTS

The NFL stadium isn’t the only professional sporting arena bound for Inglewood. It’s looking very likely that the Clippers will move out of Downtown

LA’s Staples Center and into the South Los Angeles city. A short document released by the city states that the stadium will be located across from the

Hollywood Park Development and seat 18,000. Additionally, the stadium will be joined by a new practice facility, retail space, and outdoor plazas

with basketball courts that are open to the public. The Steve Balmer privately financed stadium will cost around $1.2 Billion and is expected to open

by 2024 when the Clipper’s Staples Center lease is up.


INGLEWOOD, CA 90302


CITY PROJECTS

The new home for the Los Angeles Chargers and Rams will be the largest stadium in the NFL. Costing nearly $5 Billion ($4.963 Billion), the 3 Million sq. ft. stadium isset to be the largest stadium in the NFL and will be able to seat 70,240. The price tickets are also expected to rise with season tickets predicted to cost $350-400per game. Construction is 60% complete and is scheduled to be ready for the 2020. The stadium will also host the 2022 Super Bowl.

The NFL stadium is only one part of a larger plan. The area around the stadium, known as Hollywood Park, is also under construction and will include about 3,000new residential units, 620,000 square feet of shops and restaurants, green space including a manmade lake, and lastly a revamped casino. The new Hollywood Parkis expected to be completed in 2023.


INGLEWOOD, CA 90302


Los Angeles County is the most heavily populated county withapproximately 9.9 million people, including about 1 million thatlive in unincorporated areas of the county. The metropolis –formed by the six neighboring counties of Los Angeles, Ventura,Kern, San Bernardino, Riverside, and Orange – is home toapproximately 19 million residents. Los Angeles County is home toone of the most educated labor pools in the country and offers alabor force of more than 4.7 million, of which more than 1.5 millionare college graduates. Los Angeles County has the largestpopulation of any county in the nation, exceeded only by eightstates According to the United States Conference of Mayors, LosAngeles County boasts a GDP among the twenty largest in theworld. Los Angeles County’s continued economic growth, incontrast to other areas of the state and nation, is due to itsdiversified economy and abundant, well-trained workforce.

Los Angeles County is well located on the Southern Coast ofCalifornia, and covers 4,061 square miles, including the SanClemente and Santa Catalina islands. The county is comprised ofapproximately 88 vibrant and diverse cities hosting more than244,000 business establishments – the greatest concentration inthe state. Los Angeles County has a Gross Domestic Product(GDP) of approximately $446 billion – placing it among the top 20economies in the world. The combined GDP of Los Angeles andits five surrounding neighboring counties places it in the top 10.California is generally considered to be in the top five.

If Los Angeles County were its own nation, its economy would bethe 18th largest in the world. It is home to more than 244,000businesses, with more minority and women owned businessesthan any other state in the nation and is the nation’s topinternational trade center and manufacturing center. LosAngeles is recognized worldwide as a leader in entertainment,health sciences, business services, aerospace and internationaltrade. Because the Los Angeles area is so large and diverse, it hassomething to offer everyone. While Hollywood and the LosAngeles beach culture are part of our collective image of LosAngeles, the city also has more museums than any other city andsome of the best hotels in the world.

COUNTY OVERVIEW

The information contained in this Offering Memorandum (“Memorandum”) is proprietary and strictly confidential; it is

intended to be reviewed only by the party receiving it from Broker and should not be made available to anyone else without

the written consent of Broker. By retention or use of this Memorandum, you agree that its contents are confidential, that you

will hold it in the strictest confidence, and that you will not disclose any of its contents contrary to these terms.

This Memorandum has been prepared to provide summary, unverified information to establish a preliminary level of interest in

the subject property (“Property”). The information in this Memorandum has been obtained from sources Broker believes to be

reliable; however, Broker has not conducted sufficient investigation to make any warranty or representation whatsoever

including but not limited to the accuracy or completeness of the information, veracity or accuracy of the information,

condition of the Property or its compliance or lack of compliance with applicable governmental requirements,

developability, suitability or financial performance of the Property, income or expenses for the Property, the size and square

footage of the Property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the

compliance with State or Federal regulations, the physical condition of the improvements thereon, or the financial condition

or business Property and does not purport to be an all – inclusive representation regarding the Property or to contain all or

part of the information which prospective investors may require to evaluate the purchase of the Property. Additional

information and an opportunity to investigate the Property will be made available to interested and qualified prospective

purchasers. All information is based on assumptions relating to the general economy, market conditions, competition and

other factors beyond the control of Broker, therefore, all information is subject to material variation. The information

contained herein is not a substitute for a thorough due diligence investigation. Interested parties are expected to review all

information of whatever nature independently and not rely on the contents of this Memorandum in any manner.

The Property owner (“Owner”) expressly reserves the right, at its sole discretion, to reject any or all offers to purchase the

Property, and/or to terminate discussions at any time with or without notice. The Owner shall have no legal commitment or

obligation unless and until written agreement(s) have been fully executed, delivered and approved by the Owner and any

conditions to the Owner’s obligations therein have been satisfied or waived.

DISCLAIMER & CONFIDENTIALITY AGREEMENT


BRETT LYON

(310) 780-1899

[email protected]

LIC. 01717818

WOODY STAHL

(310) 710-3829

[email protected]

LIC. 01399621

offering memorandum 933 e hyde park blvd inglewood, … · 933 e hyde park blvd inglewood, ca 90302...

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