The LA Apartment Advisors are pleased to present 921 Edgewood Street, a premier fully entitled 38 unit multifamily development opportunity located in Inglewood, one of the fastest growing urban submarkets in the world. This unique development opportunity sits on a vacant lot, where the old building has already been demolished. The property is positioned on approximately 22,207 square feet of land zoned INR3.
The offering is ideally located on the edge of Inglewood and Ladera Heights, which boasts upscale demographics, dense immediate population, high barriers to entry, and strong market fundamentals yielding an investor/developer landlord favored market conditions with significant growth potential. Centrally located within short driving distance of Silicon Beach and Culver City, and conveniently positioned in the center of a broad range of employment and retail options, 921 Edgewood Street is surrounded by affluent high-end neighborhoods, boutique bars / restaurants, and numerous high profile office towers and mixed use developments.
The City of Inglewood has a major influx of development coming over the next couple years. With dozens of large-scale projects now in the pipeline, Inglewood is well on its way to becoming one of the most thriving and walkable places to live, work and play in greater Los Angeles. Inglewood will be the home to SoFi Stadium which is currently under construction and when completed in July 2020, it will be the new home of both the National Football League's Los Angeles Rams and Los Angeles Chargers.
The future home of the Rams and Chargers—and the 2022 Super Bowl—isn’t the only big project planned for the massive parcel of land left behind after the demolition of the Hollywood Park Racetrack.
Next to the $4.9 billion stadium, a massive new neighborhood and shopping complex with thousands of homes, plus new stores, restaurants, and a hotel, has been in the works for more than a decade. The entire 238-acre property was acquired by developers Wilson Meany and Stockridge in 2005, but construction didn’t break ground until 2014, due to the downturn in the housing market.