945
S
Prairie Avenue,
Inglewood,
California
CA
90301-7554
Sold For: $3,300,000
Listing ID: SB20030072
Price/SqFt:
$394.88
Status:
Closed
Sold Date:
8/11/2021
SqFt:
8,357
Sq Ft
Year Built:
1969
The subject property is a commercial retail center in the heart of Inglewood’s Entertainment District. The property is located at 945 South Prairie Avenue, across from the main entrance to the new $5 Billion SoFi Stadium which will be completed in 2020. The improvements consist of 8,357 square feet of gross building area within 2 stories on a 16,912 square foot parcel zoned C2. There are 14 suites. There is tremendous upside in this investment offering with a CAP rate pf 6%+ on stabilized NOI at market rents. The property could also be developed in an assemblage with an adjacent parcel on Prairie that is approximately 1 acre. The location across from the SoFi Stadium, and the Hollywood Park Mixed-Use Entertainment Complex provides a unique opportunity to acquire a property along the main boulevard of Inglewood’s path of redevelopment.
Primary Features
County:
Los Angeles
Price/SqFt:
394.88
Property Sub Type:
Retail
Property Type:
Commercial Sale
Year Built:
1969
Interior
Building Area Units:
Square Feet
Condo Area Units:
Square Feet
External
Lot Size Source:
Assessor
Minimum Total Area Units:
Square Feet
Number Of Buildings:
1
Water Source:
Public
Location
Country:
US
MLS Area Major:
102 - South Inglewood
Additional
Additional Parcels:
yes
Asset Class:
Office, Retail
Building Status:
Existing
Days On Market:
310
Land Use:
Office, Retail
List Agent State License:
01164364
List Office State License:
01508014
Max Total Area Units:
Square Feet
Parcel Number:
4024009005
Year Built Source:
Assessor
Financial
Accounting Type:
ProForma
Cap Rate:
6.07
Effective Gross:
284870
Expense Year:
2020
Gross Scheduled Income:
239856
Insurance Expense:
4000
Investment Property:
yes
Maintenance Expense:
6000
Net Operating Income:
218323
Operating Expense:
66547
Other Income 1:
63840
Personal Property Amount:
45657
Professional Management Expense:
8890
Special Listing Conditions:
Standard
Tax Annual Amount:
45657
Total Expenses:
66547
Vacancy Allowance:
18826
© 2024. The multiple listing data appearing on this website is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. All data, including but not limited to all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Any correspondence from IDX pages are routed to Realty Masters and Associates or one of their associates. Last updated Thursday, April 18th, 2024.
Based on information from CARETS as of Thursday, April 18th, 2024 08:46:40 AM. The information being provided by CARETS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CARETS, CLAW, CRISNet MLS, i-Tech MLS, PSRMLS and/or VCRDS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
Any property information referenced on this website comes from the Internet Data Exchange (IDX) program of CRISNet MLS and/or CARETS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listed by: StephenLampe, DRE #01164364 from Re/Max Commercial & Investment
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