633 Aerick St Inglewood, CA 90301 Prime Inglewood – Blocks from Sofi Stadium, IBEC, Icon @ Grace Park & Market Street 20,273 Sq Ft Lot Property Overview 633 Aerick St Inglewood, CA 90301 The Offering 3 Photos 6 Location Maps 10 Area Overview 11 Exclusively Listed By Morgan McMullin Dario Svidler Nick Segal Rick Ojeda Executive Vice President Executive Vice President Broker Associate Estates Director O 310. 500. 3905 O 424. 324. 6304 C 310. 776. 0148 O 310. 500. 1343 C 310. 968. 2454 C 818. 653. 2663 [email protected] C 310. 902. 7676 [email protected] [email protected] DRE 01013548 [email protected] DRE 01716570 DRE 01884474 DRE 00987794 Compass is a licensed real estate broker and abides by Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage. 633 Aerick Street The Offering At a Glance 633 Aerick Street is a prime, booming Inglewood, triple lot encompassing 20,273 sf of land with 150 $3,850,000 feet of frontage. Just blocks away from both the Icon @ Grace Park, Market Street, and the Clippers and Rams stadiums, nestled on a quiet residential pocket, the subject property offers an investor a Price unique opportunity to develop or repurpose the existing structure. The current building is a vacant approximately 10,000 sf, single story, medical office built in 1959 with approximately 34 parking spaces. In order to promote density, Inglewood encourages development by only limiting FAR and not density 10,000+/- Sq Ft when using a Density Bonus and building 4+ stories. While parking is still required, parking requirements Building Size can be reduced when utilizing a Density Bonus to as little as 1 spot for a 1 bedroom unit, 2 spots for 2-3 bedroom units and 2.5 spots for units with 4 bedrooms or more. Being half a mile towards the south to the proposed Inglewood Transit Connector stop and half a mile northwest to the under-construction Crenshaw/LAX Light Rail Line in Downtown Inglewood, the current Walk Score of “Very Walkable” will 20,273 Sq Ft likely be rebranded to a “Walker’s Paradise” soon. Lot Size With a maximum buildable area footprint of around 13,464 SF (front 15 ft setback, 9 ft side setbacks and 18 ft setbacks in back, a Developer can get creative with the kind of project one can build. R-M Zoning Highlights • Triple Lot with 150 Feet of Frontage $385 Price / Sq Ft (building) • Quiet, Residential Neighborhood | High Density, Multi-Story Allowed • Prime Inglewood – Blocks from Sofi Stadium, IBEC, Icon @ Grace Park & Market Street 150 Ft • Tremendous Upside Area Potential Frontage 4021-001-046 APN Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 3 633 Aerick Street Floor Plan Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 4 633 Aerick Street Floor Plan: Basement Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 5 Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 6 Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 7 Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 8 633 Aerick St Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 9 633 Aerick Street Location Maps Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 10 633 Aerick Street Area Overview Inglewood Points of Interest Inglewood, CA Inglewood is a city in southwestern Los Angeles County, Califor- nia, in the Los Angeles metropolitan area. As of the 2010 U.S. Census, the city had a population of 109,673. It was incorporated on February 14, 1908. The city is in the South Bay region of Los Angeles County, near Los Angeles International Airport. Inglewood is home to the Los Angeles Rams and Los Angeles Chargers of the National Football League who play at SoFi Sta- dium. The stadium will host Super Bowl LVI in 2022. The Los An- geles Lakers and Los Angeles Kings played their home games at The Forum until the completion of Staples Center in Downtown Los Angeles. On July 26, 2019 the Los Angeles Clippers announced plans to build a new arena and entertainment center in Inglewood. The announcement explained that the new arena would be completed in the fall of 2024, the same time their current leasing agreement with Staples Center is set to expire. The privately financed proj- SoFi Stadium ect includes the arena, the team’s business and basketball offices, SoFi Stadium is an unprecedented and unparalleled sports and training facility, community and retail spaces. Weeks later, on Sep- entertainment destination being built in Inglewood, CA, by Los tember 10, 2019, Clippers owner Steve Ballmer announced plans to Angeles Rams Owner/Chairman E. Stanley Kroenke. The first in- invest $100 million into the city of Inglewood as part of the arena door-outdoor stadium to be constructed, SoFi Stadium will be the deal. The investment includes $80 million for affordable housing, home of the Los Angeles Chargers and Los Angeles Rams when it assistance to renters and first-time homebuyers. Another $12.75 opens in summer 2020. The state-of-the-art stadium re-imagines million will be invested into school and youth programs. the fan experience and will host a variety of events year round including Super Bowl LVI in 2022, the College Football Champi- onship Game in 2023, and the Opening and Closing Ceremonies of the Olympic Games in 2028. Located on the site of the former Hollywood Park racetrack, the stadium is the centerpiece of a 298-acre mixed-use development featuring retail, commercial of- fice space, a hotel, residential units, and outdoor park spaces. Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 11 633 Aerick Street Inglewood Points of Interest Market Street “The goal is to make Market Street in the image of Old Town Pasadena,” says Inglewood Mayor James Butts. If Market Street is going to become like downtown Pasadena, it will need to build apartments and condos over the shops, says Butts. On the corner of Market and Florence Avenue, Thomas Safran and Associates is building a 260,012 foot-square mixed-use com- plex called Inglewood Market Gateway. Designed by Withee Mal- colm Architects, its set to have 242 market-rate units and three restaurants, five retail spaces, and a grocery store on the lower level. The city of Inglewood also plans to build an automated tram that would link the Crenshaw Line’s Market Street stop to the Forum and the NFL stadium—the future home of the Rams and Chargers. Despite those plans and the new cafes and restaurants, Emma Arrazola, who owns Emma’s Snack Shop on Market Street, says businesses are still closing down, and foot traffic has dwindled. Inglewood Basketball & Entertainment Center The Clippers new arena in Inglewood, IBEC, will be a one-of-a- kind destination for basketball and live experiences. Construction on the new facility will begin in Summer 2021, and will become the new home of the LA Clippers for the 2024-25 season. Click be- low to sign up for early access to season ticket opportunities and first-in-line-privileges to experiences IBEC will offer. Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 12 633 Aerick Street Inglewood Points of Interest Former Daniel Freeman Hospital Seven months after purchasing the former site of Inglewood’s Daniel Freeman Hospital for $36.3 million, Harridge Development Group has nearly finished clearing the property for redevelop- ment. The 18-acre expanse, located at 333 N. Prairie Avenue, is slated for a gated community of 228 detached condominiums known as Grace Park, per a report earlier this year by the Real Deal. The new plan is slightly downsized from a previously-entitled project for the property, which would have allowed for up to 310 residen- tial units. The development site is located due north of the former home of the Hollywood Park racetrack, which is itself being redeveloped with a 260-acre mixed-use complex centered around the future home of the NFL’s Rams and Chargers. That project may also fea- ture up to 3,000 residential units, a 300-key hotel, 620,000 square feet of offices and retail, and 25 acres of park space. Morgan McMullin | Dario Svidler 633 Aerick Street, Inglewood, CA 90301 | Compass Commercial • Partners CRE 13 For more information please contact our exclusive sales agent: Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01866771. All material presented herein is intended for informational purposes only and is com- piled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate..