Is anyone buying in Inglewood close to the football stadium? If so where? What type of property class are you buying and how close to the stadium?
It depends on your definition of close. Most of the properties I consider "close" (walking distance up to 10 minute drive) to the stadium are too overpriced to create even a decent cash flow. Most places in the actual city of Inglewood are out of the question even in the bad neighborhoods. Then again, I only look at SFR'S and MF units nothing with HOA fees. S. Central is fairly close but you're looking at some war zones, same goes with minor spots in Compton. Good luck with your search!
Hi Melvin. Yeah i'm just shooting vague questions to gage the general area. What are your general areas you consider war zones? Are there certain borders like freeways etc?
How about Retail or mixed-use in the area close to stadium (walking to 10 min driving)?
Here's a silly article about the increased cost of living for Rams players and association. http://www.housingwire.com/blogs/1-rewired/post/36051-st-louis-rams-sacked-by-real-estate-reality-as-team-moves-to-los-angeles
Here's another article on the Inglewood RE market
Prices are high if your looking for cashflow, there are opportunities for long term holds and flips. The adjacent area of Los Angeles can be rough, but for thosr thst know the area there are also several nice suburban areas. My general view of Los Angeles multifamily is that high cashflowing areas will not offer long term appreciation, while areas such as Inglewood with opportunities for equity growth are about at a break even point. If you need any direction feel free to message me, I live and work in the city.
Also...I wouldn't classify the areas surrounding as war zones, even at their roughest they are stable rental areas, most with no RC.