OFFERING MEMORANDUM 501 HYDE PARK PL INGLEWOOD, CA … · 2019. 8. 8. · The City of Inglewood is currently experiencing an enormous revitalization, bringing the new Hollywood Park

OFFERING MEMORANDUM

501 HYDE PARK PL

INGLEWOOD, CA 90302

BRETT LYON

(310) 780-1899

[email protected]

LIC. 01717818

WOODY STAHL

(310) 710-3829

[email protected]

LIC. 01399621

501 HYDE PARK PL

INGLEWOOD, CA 90302

LYON STAHL INVESTEMENT REAL ESTATE • 2

TABLE OF CONTENTS

THE PROPERTY 3

Property Overview / Highlights

Property Photographs

Local Map

Aerial Map

THE FINANCIALS 10

Financial Overview

Rent Roll

COMPARABLES 13

Sold Comparables

Sold Comparables Map

Lease Comparables

Lease Comparables Map

On-Market Comparables

On-Market Comparables Map

THE LOCATION 20

City Overview

County Overview

DISCLAIMER AND CONFIDENTIALITY AGREEMENT 25

OFFERING MEMORANDUM

501 HYDE PARK PL

INGLEWOOD, CA 90302

Page 3LYON STAHL INVESTEMENT REAL ESTATE

PROPERTY

OVERVIEW

501 HYDE PARK PL

INGLEWOOD, CA 90302


PROPERTY OVERVIEW

PROPERTY SUMMARY

PRICE $3,600,000

ADDRESS 501 HYDE PARK PL

CITY, STATE, ZIP INGLEWOOD, CA 90302

COUNTY LOS ANGELES

YEAR BUILT 1985

NUMBER OF UNITS 12

BUILDING SIZE 11,040 SF

LOT SIZE 11,966 SF

CAP RATE 4.20%

PRO FORMA CAP RATE 5.67%

GRM 14.41

PRO FORMA GRM 11.58

PRICE / BLDG SF $326.09

PRICE / LOT SF $300.85

501 HYDE PARK PL

INGLEWOOD, CA 90302


PROPERTY OVERVIEW

Lyon I Stahl is pleased to present 501 Hyde Park Pl, a12-unit apartment building located in the desirableNorthwest pocket of Inglewood, just a short distanceto the Forum, future NFL Stadium, and LAX. This 11,040SF building was built in 1985 and is situated on a 11,966SF corner lot at the signalized intersection of Field andCentinela Avenue. 501 Hyde Park Pl. offers ideal unitmix of all 2-bed/1-bath units separately metered forgas & electric. The building features on-site laundryand two gated covered parking spaces for each unit.

Given the property’s ideal location, strong unit mix,and significant upside rent potential, 501 Hyde Park Plis an excellent investment opportunity for any investorseeking growth, stability, and a hedge againstinflation.

• Well-Maintained 12-Unit Building Consisting of All 2-

Bed/1-Bath Units

• 11,040 SF of Living Space Situated on a 11,966 SF Lot

• Currently Operating at a 4.20% CAP & 14.41 GRM |

Pro Forma 5.67% CAP & 11.58 GRM

• Enclosed Parking Provides for Two Spaces/Unit.

• Only a Short Commute to the Forum, LAX, & Future

Hollywood Park Stadium Development

• Drought Resistant Landscaping.

501 HYDE PARK PL

INGLEWOOD, CA 90302


PROPERTY PHOTOGRAPHS

501 HYDE PARK PL

INGLEWOOD, CA 90302


INTERIOR PHOTOGRAPHS – UNIT 8

501 HYDE PARK PL

INGLEWOOD, CA 90302


INTERIOR PHOTOGRAPHS – UNIT 12

501 HYDE PARK PL

INGLEWOOD, CA 90302


LOCAL MAP

501 HYDE PARK PL

INGLEWOOD, CA 90302


AERIAL MAP

OFFERING MEMORANDUM

501 HYDE PARK PL

INGLEWOOD, CA 90302


FINANCIAL

OVERVIEW

501 HYDE PARK PL

INGLEWOOD, CA 90302


FINANCIAL OVERVIEW

501 HYDE PARK PL

INGLEWOOD, CA 90302


RENT ROLL

UNIT # UNIT TYPE CURRENT RENT PRO FORMA RENT NOTES

1 2-Bed/1-Bath $1,596 $2,150

2 2-Bed/1-Bath $1,596 $2,150

3 2-Bed/1-Bath $1,653.75 $2,150

4 2-Bed/1-Bath $1,795 $2,150

5 2-Bed/1-Bath $1,596 $2,150

6 2-Bed/1-Bath $1,795 $2,150

7 2-Bed/1-Bath $1,653.75 $2,150

8 2-Bed/1-Bath $2,150 $2,150 Vacant ( Full Remodel)

9 2-Bed/1-Bath $1,596 $2,150

10 2-Bed/1-Bath $1,627.50 $2,150

11 2-Bed/1-Bath $1,680 $2,150

12 2-Bed/1-Bath $1,995 $2,150 Vacant( Partial Remodel)

- Laundry $85 $100

MONTHLY TOTALS $20,819 $25,800

ANNUALIZED TOTALS $249,828 $310,800

OFFERING MEMORANDUM

501 HYDE PARK PL

INGLEWOOD, CA 90302


COMPARABLES

501 HYDE PARK PL

INGLEWOOD, CA 90302


SOLD COMPARABLES

Address Price Units Year Built Building Size Price/Unit Price/SF Cap Rate GRM Sale Date

Averages $2,195,556 7 1969 6,595 SF $294,576 $342.24 4.37% 15.20 N/A

1

2

3

4

5

1

2

3

4

7

8

9

6

501 HYDE PARK PL

INGLEWOOD, CA 90302


SOLDCOMPARABLES MAP

501 HYDE PARK PL

INGLEWOOD, CA 90302


LEASE COMPARABLES

Address Date Listed Year Built Unit Type Unit Size Rental Rate

Averages N/A 1945 2-Bed/1-Bath 1,048 SF $2,071

1

2

3

4

5

6

501 HYDE PARK PL

INGLEWOOD, CA 90302


LEASE COMPARABLES MAP

501 HYDE PARK PL

INGLEWOOD, CA 90302


ON-MARKETCOMPARABLES

Address Price Units Year Built Building Size Price/Unit Price/SF Cap Rate GRM List Date

Averages $3,601,000 12 1959 9,716 SF $316,112 $392.14 3.61% 19.24 N/A

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2

3

4

5

2

3

4

5

6

7

8

9

501 HYDE PARK PL

INGLEWOOD, CA 90302


ON-MARKETCOMPARABLES MAP

501 HYDE PARK PL

INGLEWOOD, CA 90302


PENDINGCOMPARABLES

Address Price Units Year Built Building Size Price/Unit Price/SF Cap Rate GRM List Date

Averages $2,910,000 17 1964 12,820 SF $264,772 $359.59 3.94% 18.44 N/A

3

2

1

501 HYDE PARK PL

INGLEWOOD, CA 90302


PENDINGCOMPARABLES MAP

OFFERING MEMORANDUM

501 HYDE PARK PL

INGLEWOOD, CA 90302


LOCATION

501 HYDE PARK PL

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.

501 HYDE PARK PL

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

501 HYDE PARK PL

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.

501 HYDE PARK PL

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.

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

Documents

OFFERING MEMORANDUM 501 HYDE PARK PL INGLEWOOD, CA … · 2019. 8. 8. · The City of Inglewood is currently experiencing an enormous revitalization, bringing the new Hollywood Park