Development Opportunity In Inglewood...requirements should be discussed by the party with...
Transcript of Development Opportunity In Inglewood...requirements should be discussed by the party with...
KW COMMERCIAL439 N. Canon Drive,3rd FloorBeverly Hills, CA 90210
KEVIN DANIALIAssociate0: 310.432.6400C: [email protected] DRE #01904911
Development Opportunity In Inglewood
OFFERING MEMORANDUM
PRESENTED BY:
INGLEWOOD, CA
OFFERING MEMORANDUM
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KW COMMERCIAL439 N. Canon Drive,3rd FloorBeverly Hills, CA 90210
Confidentiality & Disclaimer
KEVIN DANIALIAssociate0: 310.432.6400C: [email protected] DRE# #01904911
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Beverly Hills in compliance with all applicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
INGLEWOOD, CA
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OFFERING SUMMARY
SALE PRICE: $1,000,000
CAP RATE: PROJECTED* 6.05% ( Projected )
NOI: PROJECTED* $60,500 ( Projected )
LOT SIZE: 9,709 SF
YEAR BUILT: 1974
BUILDING SIZE: 2,080 SF
RENOVATED: 2019
ZONING: MU4
PRICE / SF: $480.77
PROPERTY HIGHLIGHTS• Signalized Intersection
• Excellent Location with Development Opportunities
• Built 12 Residential Multi-units by right
• 8 Striped Parking Spaces
• Owner User / Investment / Development Opportunity
• Dense Demographics with High Foot Traffic
Executive Summary / Complete Highlights
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PROPERTY OVERVIEW
Keller Williams Commercial is proud to present 6441 West Blvd inthe city of Inglewood. Prime Investment site for rare futuredevelopment opportunity. The subject property is 2,080 SF ofsingle story retail building, on approximately 9,709 SF zonedInglewood MU-4 Land. **Zoning allows to built up to 12 residentialMulti-units by right** The property is currently vacant.The subject property is located on the signalized corner of WestBlvd & Hyde Park features entrances/exits on both side with goodfrontage of approximately 70 feet along West Blvd with A rearalley.This offering is an ideal chance for an investor to benefit from abooming Inglewood real estate market, which many anticipaterising further in time to come. The city is fast realizing its truepotential, as a major destination and entertainment center, with thecompletion of the fabulously renovated Forum, the almostcomplete Rams Stadium with associated commercial/residentialdevelopment and the coming LA Clippers Arena. The subjectproperty stands to directly benefit from tremendous future upsideas a result of its adjacency to the huge current and futuredevelopment plans.This offering will attract an owner-user/investor or Developer whowould like to take advantage of build-out retail space orResidential Multi-Units with potential to grow in an area withexcellent demographics and density.The demographics in the immediate area offer over 38,000 peopleresiding within a 1-mile radius and over 72,000 people residingwithin a 1.5-mile radius.
LOCATION OVERVIEW
The subject property is located on the signalized corner of WestBlvd & Hyde Park and offers good frontage with approximately 70feet along West Blvd. The subject property is located within 3miles of the new $2.6 Billion dollar Los Angeles Rams stadium inInglewood. The subject property features entrances/exits on WestBlvd and Hyde Park.
Property Description
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SALE PRICE $1,000,000
LOCATION INFORMATION
Street Address 6441 West Blvd
City, State, Zip Inglewood, CA 90302
County/Township Los Angeles
BUILDING INFORMATION
Building Size 2,080 SF
NOI ( Projected ) $60,500
Cap Rate ( Projected ) 6.05%
Price / SF $480.77
Year Built 1974
Last Renovated 2019
Occupancy % 0%
Number Of Floors 1
Load Factor Yes
PROPERTY DETAILS
Property Type Retail
Property Subtype Free Standing Building
Zoning MU4
Lot Size 9,709 SF
APN# 4013-001-001
Property Details
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Additional Photos
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Regional Map
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Location Maps
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Aerial Map
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INVESTMENT OVERVIEW / PROJECTED
Price $1,000,000
Price per SF $480.77
CAP Rate ( Projected ) 6.1%
Cash-on-Cash Return (yr 1) 6.05 %
Total Return (yr 1) $60,500
Debt Coverage Ratio -
OPERATING DATA
Gross Scheduled Income ( Projected ) $75,000
Other Income -
Total Scheduled Income ( Projected ) $75,000
Vacancy Cost $0
Gross Income $75,000
Operating Expenses $14,500
Net Operating Income $60,500
Pre-Tax Cash Flow $60,500
FINANCING DATA
Down Payment $1,000,000
Loan Amount -
Debt Service -
Debt Service Monthly -
Principal Reduction (yr 1) -
Financial Summary
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Subject Property
6441 West Blvd | Inglewood, CA 90302
$1,000,000Sale Price: 9,709 SFLot Size:
1974Year Built: 2,080 SFBuilding SF:
$480.77Price PSF: 6.05%CAP:
$60,500NOI:
Keller Williams Commercial is proud to present 6441 West Blvd in the city of Inglewood. Prime Investment site for rare future development opportunity. The subject property is 2,080 SF of single story retail building,on approximately 9,709 SF zoned Inglewood MU-4 Land. **Zoning allows to built up to 12 residential Multi-units by right** The property is currently vacant.The subject property is located on the signalized corner of West Blvd & Hyde Park features entrances/exits on both side with good frontage of approximately 70 feet along West Blvd with A rear alley.This offering is an ideal chance for an investor to benefit from a booming Inglewood real estate market, which many anticipate rising further in time to come. The city is fast realizing its true potential, as a majordestination and entertainment center, with the completion of the fabulously renovated Forum, the almost complete Rams Stadium with associated commercial/residential development and the coming LA ClippersArena. The subject property stands to directly benefit from tremendous future upside as a result of its adjacency to the huge current and future development plans.This offering will attract an owner-user/investor or Developer who would like to take advantage of build-out retail space or Residential Multi-Units with potential to grow in an area with excellent demographics anddensity.The demographics in the immediate area offer over 38,000 people residing within a 1-mile radius and over 72,000 people residing within a 1.5-mile radius. 1
6430 West Blvd
Inglewood , CA 90302
$800,000Sale Price: 0.28 AcresLot Size:
1959Year Built: 1,212 SFBuilding SF:
$660.07Price PSF:
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5960 Crenshaw Blvd
Los Angeles , CA 90043
$1,000,000Sale Price: 0.18 AcresLot Size:
1969Year Built: 1,236 SFBuilding SF:
$809.06Price PSF:
2
3
2934 W Manchester Blvd
Inglewood, CA 90305
$995,000Sale Price: 0.28 AcresLot Size:
2004Year Built: 2,327 SFBuilding SF:
$427.59Price PSF:
3
Sale Comps
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4
5725 S Normandie Ave
Los Angeles, CA 90037
$1,000,000Sale Price: 0.13 AcresLot Size:
1947Year Built: 1,800 SFBuilding SF:
$555.56Price PSF:
4
Sale Comps
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SUBJECT PROPERTY PRICE BLDG SF PRICE/SF CAP # OF UNITS
6441 West BlvdInglewood, CA 90302
$1,000,000 2,080 SF $480.77 6.05% 1
SALE COMPS PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE
6430 West BlvdInglewood , CA90302
$800,000 1,212 SF $660.07 - 1 -
5960 Crenshaw BlvdLos Angeles , CA90043
$1,000,000 1,236 SF $809.06 - - -
2934 W Manchester BlvdInglewood, CA90305
$995,000 2,327 SF $427.59 - - -
5725 S Normandie AveLos Angeles, CA90037
$1,000,000 1,800 SF $555.56 - - -
PRICE BLDG SF PRICE/SF CAP # OF UNITS CLOSE
Totals/Averages $948,750 1,644 SF $577.10 - 1
Sale Comps Summary
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6441 West Blvd | Inglewood, CA 90302SUBJECT PROPERTY
1Inglewood , CA90302
6430 WEST BLVD 2Los Angeles , CA90043
5960 CRENSHAW BLVD
3Inglewood, CA90305
2934 W MANCHESTER BLVD 4Los Angeles, CA90037
5725 S NORMANDIE AVE
Sale Comps Map
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Retailer Map
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POPULATION 0.5 MILES 1 MILE 1.5 MILES
Total population 12,371 38,084 72,114
Median age 31.3 33.7 35.5
Median age (male) 26.4 29.8 32.3
Median age (Female) 36.4 37.6 38.6
HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES
Total households 4,256 13,239 25,980
# of persons per HH 2.9 2.9 2.8
Average HH income $41,448 $50,661 $56,613
Average house value $438,591 $445,232 $443,192
* Demographic data derived from 2010 US Census
Demographics Map
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RAMS STADIUM
The new $2.66 billion HKS-designed football stadium for the Los Angeles Rams broke ground in Inglewood, California.
The stadium, designed by New York–based HKS, features a giant triangular roof supported by thick columns and made
of ETFE. The stadium has been designed to accommodate two professional teams and to seat 80,000 spectators for
these types of sporting events, with the San Diego Chargers potentially lining up to use the stadium as their new home.
New NFL Stadium Under Construction In Inglewood
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INGLEWOOD BASKETBALL & ENTERTAINMENT COMPLEX EXPECTED TO OPEN BY 2024The Inglewood Basketball & Entertainment Center will revitalize mostly vacant land under the flight path of Los Angeles International Airport into a vibrant campus. Theproject is targeted for completion by fall of 2024, following the expiration of the Clippers’ lease at STAPLES Center.
New LA Clippers Plan For New Inglewood Arena
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