We recapitalized this 48-unit 62,000 square foot building in Inglewood in December 2021. This property is an ideal value-add opportunity for us and we will remodel units when normal tenant turnover occurs. There was over 50% upside on in-place rents at the time of recapitalization.
The property has many amenities including a community pool and is centrally located to metropolitan Los Angeles. It is within 3-miles of the 298-acre state of the art, SoFi Stadium development, the benefits of which are already being realized by real estate investors throughout the city of Inglewood.
