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901 S La Brea Ave
Inglewood, CA 90301

Price: $3,395,000 Zoning: C2-1-0
Bldg SF: 9,042 SF Price/SF: $375
Land SF: 17,786 SF Occupancy: 100%
Property Type:  Retail TOC: Tier 3
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Address: 901 S La Brea Avenue, Inglewood, CA 90301
Pricing: $3,395,000
Bldg SF: 9,042 SF
Land SF: 17,786 SF
Year Built: 1940
Price/SF: $375
Occupancy: 100%
Property Type: Retail
Click to View Offering MemorandumClick to Print Offering Memorandum

Exclusively Listed by:
Brandon Michaels
(818) 212-2794
bmichaels@marcusmillichap.com
License # 01434685

Investment Highlights

VALUE-ADD STRIP CENTER IN ONE OF THE HOTTEST SUBMARKETS NATIONALLY

• Current rents are significantly below market, averaging $1.22 per square foot gross
• All leases are short term or month to month, allowing for immediate rental upside Owner-User Buyer
• Lease flexibility creates a unique opportunity for an Owneruser Buyer to occupy a portion of the property for their own use
• Ideal unit sizes averaging 1,291 square feet
• Excellent visibility and frontage along both South La Brea Avenue and East Arbor Vitae Street
• New development in the immediate area creates growth projection and upside

 

POTENTIAL DEVELOPMENT OPPORTUNITY

• Signalized corner location just 5 blocks west of the new $4.9 billion Los Angeles Football Stadium Development
• 17,786 square feet of land zoned C2
• Tier 3 TOC creates significant density bonus
• Multitude of potential uses in the fastest growing submarket in the country
• Large demand for alternative uses in this growing sub-market

 

NEW LOS ANGELES FOOTBALL STADIUM DEVELOPMENT WILL REVITALIZE INGLEWOOD

• $4.9 billion development will include a brand-new state of the art football stadium that will serve as the home of the Los Angeles Rams and Los Angeles Chargers
• New 238-acre development will include more than 3,000 new residential units, 620,000 square feet of retail space, a social hub, 300 room luxury hotels, an artificial lake, and a revamped casino
• New residential will consist of primarily apartments and townhouses, with two dozen acres of parks and open space and an artificial lake
• Large, open air shopping district will also feature glassy office buildings and a hotel with rooftop terrace

 

DENSE IMMEDIATE SUBMARKET UNDERGOING SIGNIFICANT GROWTH

• Over 800,000 people within five miles
• Average household income of $73,000
• Home prices have doubled in the last six years in Inglewood, with the median home price increasing 37% in the last two years
• Centralized location within proximity to the Interstate 405 and 105 Freeways
• Easy access to the new Crenshaw/LAX Metro Rail Project
• Less than a mile from Los Angeles International Airport (LAX)