INGLEWOOD, Calif. (2UrbanGirls) — Despite Inglewood passing an ordinance regulating short-term rentals, landlords are now leaving town because their properties aren’t making the cut.
Until 2019, two residential housing complexes located at 4821 and 4949 W. Century Blvd housed residents, many of whom were disabled and/or elderly.
Related: City of Inglewood evicts elderly tenants to create hotel
As the multi-billion dollar SoFi Stadium neared completion, the landlords evicted all tenants from their units. A tenant died of a heart attack during his eviction.
Related: Letter to the editor: Inglewood residents die after city evicts them
After the last tenant vacated, both properties underwent massive renovations and reopened as I-WOOD short-term residences to attract lucrative short-term renters looking for accommodation on Airbnb or online. other short-term rental platforms.
As more landlords began to convert residential units into short-term rentals, the City was forced to act. Good kind of.
A tragic shooting took place in a Inglewood Airbnb which killed four people a month before Super Bowl 56, leading the city to ban new Airbnbs from being listed on the platform.
The City-approved Short Term Rental Ordinance does not allow landlords to list units in a residential complex of more than five (5) units.
4821 W. Century Blvd. has 24 units and 4949 W. Century Blvd. a 36, however, both buildings are zoned as a commercial airport.
In the commercial area of the airport, you are only permitted to operate as a motel or hotel with a minimum of fifty (50) rooms per establishment, which does not include the two I-WOOD properties.
Both properties are now listed with Kidder Matthews and are being marketed as ‘turnkey’ properties which can be delivered furnished or unfurnished.
The property features a dog park, BBQ, electric vehicle charging station, on-site laundromat and is within walking distance of SoFi Stadium and the soon to be completed Intuit Dome .
The buildings are believed to be vacant, which is unfortunate given the housing crisis plaguing all of Los Angeles County. The listing agents were kind enough to include comparable for what other individual units rent in the immediate vicinity.
The asking price is not indicated.
If you’re interested in getting into the traditional business of renting to long-term tenants, call them at 858-369-3083 and to view the full list, click here.
Make sure to tell them 2UrbanGirls sent you!
Comments are closed.