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    228 Stepney Street

    Inglewood, CA 90302
    • $2,800,000
    • STATUS: Active
    • ON SITE: 163 days
    • ID#: 21715198
    UPDATED: 29 min ago
    $2,800,000
    • 0
      BEDS
    • 0.22
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,464
      SQFT
    • $375
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1962
    County:

    School Ratings & Info

    Description

    Value Add 13 units! 9-unit building + 4 Approved ADUs in prime Northwest Inglewood area priced at only 230k/door. Incredible Current Cap Rate of 6% and GRM of 12.3 with upside to 7.6% Cap and 10.3 GRM. Delivered with 3 vacant units for immediate upside and renovations. Excellent up and coming Inglewood location minutes from the Rams Stadium, Forum, Culver City, and Playa Vista. Approved Plans to convert the garages to 2 attached ADUs and convert a portion of the carport to 2 detached ADUs for a total of 4 ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T16:35:28.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
    www.marknazzalrealty.com/homes/115787218
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    228 Stepney Street Inglewood, CA 90302

    • Price: $2,800,000
    • Status: Active
    • Updated: 29 min ago
    • ID#: 21715198
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.22
    Acres
    7,464
    SQFT
    $375
    $/SQFT
    1962
    Built
    Neighborhood:
    101 - North Inglewood
    County:
    Los Angeles
    Area:
    101 - North Inglewood
    Property Description
    Value Add 13 units! 9-unit building + 4 Approved ADUs in prime Northwest Inglewood area priced at only 230k/door. Incredible Current Cap Rate of 6% and GRM of 12.3 with upside to 7.6% Cap and 10.3 GRM. Delivered with 3 vacant units for immediate upside and renovations. Excellent up and coming Inglewood location minutes from the Rams Stadium, Forum, Culver City, and Playa Vista. Approved Plans to convert the garages to 2 attached ADUs and convert a portion of the carport to 2 detached ADUs for a total of 4 ADUs. Please see Financials & Preliminary ADU Plans in the Docs section. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes construction costs of ADUs. Individually metered for Gas & Electricity.
    Exterior Features

    Carport YN Yes Parking Features CarportDetached Carport

    Interior Features

    Cooling None Cooling YN No Interior Features Ceiling Fan(S)

    Property Features

    Gross Income 243580 Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 180113 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 33 Zoning Inr3yy

    Listing provided courtesy of Armin Soleimani of Global Platinum Properties, Inc. and Julio Ruiz of Global Platinum Properties, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-09-16T16:35:28.227. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center. Licensed in the State of California, USA.
     
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    Mark Nazzal Real Estate Group | Keller Williams Realty - Redlands Market Center
    1473 Ford St., Suite 200
    Redlands CA, 92373