Inglewood, CA Market

[Will R.]

Hello BP. I'm a looking at making a purchase in the Inglewood, CA area and hoping to supplement with rental income - either getting a roommate in a SFH or acquiring a multi unit property. I have a few options on the table that fit my budget. Just wanted to get people's opinion of the area. With the stadium on its way and the build up of the community, are most people still expecting home appreciation or has that already taken place since the announcement? How is the rental market in the area? Has anyone else been successful in finding renters for their properties? Really appreciate any feedback. Thank you in advance.

[Clarence Johnson]

Hey Will, I live, own and work in Inglewood.  Rent demand is strong and trending up.  If you are getting an AirBnb just make sure it can cash flow as a long term rental as well as several city governments (most recently LA) have made changes that can crush a business model solely dependent on the short term rental market.  Additionally, make sure you check a map to ensure the property is Inglewood and not Lennox, there are numerous Lennox multi and sfr properties that are being marketed as Inglewood and they are very different areas with different demand and value.  Long term I do believe Inglewood demand will overflow into the Lennox mkt but they should not be purchased at the premium that Inglewood properties are selling for.  What is the bed and bath counts and what area of the city, I can help you to determine market rent.  Also, there are multiple developments being built and planned by the city, its a great area for long term holds and where I plan to make my next purchase as well.