218 Stepney St, Inglewood, CA 90302

218 Stepney St, Inglewood, CA 90302

Inglewood, CA

Property Description

Nico Rosmarin of Lyon Stahl Investment Real Estate is pleased to present 218 Stepney Street, a turn-key apartment building in Inglewood, California. This exciting investment opportunity is located just south of Centinela Avenue in the highly desirable Northwest section of Inglewood. The unique location offers easy access to the 405 Freeway, allowing quick access to the Westside of Los Angeles, Downtown Los Angeles, Los Angeles International Airport and Long Beach. Additionally, 218 Stepney is just north of the new Hollywood Park Redevelopment, slated to be the world’s most expensive sports stadium. In addition to the stadium, the development will bring 3,000 new housing units, a luxury hotel and approximately 620,000 SF of new retail.

This unique seven-unit apartment building is comprised of four (4) one-bedroom/one bathroom units, (1) three-bedroom/two bathroom, (1) non-conforming one-bedroom/one bathroom, and (1) non-conforming studio. The units have been fully rehabbed with high-end finishes allowing an investor to minimize their expenses while maximizing their return on their investment.

218 Stepney Street offers an astute investor the opportunity to acquire an asset in excellent condition with strong current rents in place. With room for rental growth and the subject property’s irreplaceable location, 218 Stepney Street offers an excellent investment opportunity in one of the most exciting markets in Southern California.

Property Features

  • Sale Price: $1,625,000
  • Area Size: 3,778 SF
  • Land Area: 9,992 SF
  • Year Built: 1961
  • Closing Date: 6/15/19
  • Units: 7
  • Current GRM: 12.01
  • Current Cap Rate: 5.41%
  • Price Per Unit: $239,285