301 Prairie AveInglewood, CA 90301

Property Details for 301 Prairie Ave

Year built

1978

Construction

STEEL FRAME

Lot size

0.61 AC

Property size (Sq ft)

84,418 SF

Zone code

INRM*

Property type

Medical offices

Property subtype

Medical centers

APN

4015-024-021

APU

4015024021

Description

This exceptional six-story, 84,957 square foot medical office building in Inglewood, CA presents a unique owner-user opportunity. Located on a 0.61-acre lot with 183 parking spaces, the property boasts a prime location less than two miles from Centinela Hospital Medical Center, a major healthcare facility. The building currently enjoys approximately 60% occupancy, offering significant flexibility for an owner-user to expand their operations within the existing space or potentially relocate tenants to accommodate their needs. The property's strategic location offers convenient access to major transportation arteries, including the I-405, I-105 freeways, and a new LA Metro K Line station, ensuring easy commutes for employees and patients. Inglewood's ongoing economic renaissance, fueled by significant investments in the Hollywood Park development, further enhances the property's value and long-term potential. The city's projected housing growth, as outlined in the 2021-2029 Housing Element report, suggests additional future development opportunities. The asking price is $14,867,475. The building's current zoning allows for several commercial uses, including potential multi-family development, adding to its versatility and investment appeal. This presents a rare chance to acquire a high-profile medical office building in a thriving Los Angeles County submarket with limited comparable properties available. The property's proximity to major transportation hubs, a significant healthcare facility, and the ongoing revitalization of Inglewood makes it an attractive investment for both owner-users and corporate entities seeking a strategic location in a dynamic market.

• CAP approach

  CAP return

  Valuation

  6%

  $24,459,258

  6.5%

  $22,577,776

  7%

  $20,965,078

• Comparable approach

  Method

  Valuation

  Relative Method

  $16,052,927

  Geo Method

  $16,052,927

• Alternative Use

  Use

  Valuation

  Residential Income

  $27,996,442

  Hospitality / Lodging

  $25,644,592

  Institutional / Educational

  $21,335,998

  Healthcare / Senior Housing

  $22,069,776

  Retail / Commercial

  $33,189,332

Location Insight

City

Inglewood

County

Los Angeles

State

California

Latitude

33.9657

Longitude

-118.344

CBSA code

31080

CBSA name

LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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