632-636 & 644-646 Aerick St

• Located near the newly completed K Line of the LA area light rail line system, major highways, LAX, and the surrounding LA communities such as the Beach Cities and West LA

 

• First time on the market in over 40 years. Over 60% of the units are below Inglewood’s fair market rental figures and may be increased 8.9% in June 2025, according to Inglewood’s FY Current Allowable Rent Increase Figures. The would bring the current Cap Rate at nearly a 6% Cap Rate (at list price) in June 2025 by merely giving rental increase notices.

 

• Opportunity for new ownership to increase the total unit count and rental income through the development of ADUs (Buyer to Verify)

Portfolio Description

The Schwartz Group at Marcus & Millichap, as the exclusive listing agent, is pleased to present a 22-unit apartment portfolio located at 632-636 Aerick Street (10 units) and 644-646 Aerick Street (12 units) in Inglewood, CA.  On the market for the first time in over 40 years, the properties total 13,498 SF, sit on 24,354 SF of land, and consists of ample parking for both properties.  632-636 Aerick Street is comprised of (2) two bedroom / one bathroom units, (4) one bedroom / one bathroom units, (3) studio units, and (1) bachelor unit.  All units are individually metered, with the exception of one studio unit and the bachelor unit.  The building has newer paint, landscaping, staircases, and has been well maintained by the current owner.  644-646 Aerick Street consists of (12) one bedroom / one bathroom units.  All units are individually metered.  This property has a new asphalt parking surface and has also been well maintained.  With over 30% in rental upside and zoned for the possibility of future multifamily redevelopment, this well maintained 22-unit portfolio offers an investor the unique opportunity to own two apartment communities separated by one parcel of land, thus providing flexibility for future opportunities.  Additionally, the properties provide the opportunity for new ownership to increase the total unit count and rental income through the addition of multiple ADUs (Buyer to Verify).

  632-636 and 644-646 Aerick Street benefit from their proximity to several key developments and economic hubs in the area.  The properties are located near the revitalized Hollywood Park neighborhood, home of SoFi Stadium, the NFL West Coast Headquarters, the Kia Forum, the YouTube Theater, and the newly constructed Intuit Dome.  The properties’ central location provides convenient access to public transportation being just a short walk away from the newly completed K Line of the Los Angeles area light rail line system and is near major highways, LAX, and the surrounding Los Angeles communities such as the Beach Cities and West LA.   With ongoing revitalization projects and economic development in the area along with the upcoming 2028 Summer Olympics, Inglewood has and continues to experience robust job growth and maintains a strong rental market with future growth to rental rates, making these properties an excellent addition to any investment portfolio.