Sold

228 Stepney Street

Inglewood CA, 90302

$2,848,000


$381.56 per sqft

Sold

20 Beds

15 Baths

7,464 sqft

Residential

Built in 1962

Listed by Julio Ruiz with Global Platinum Properties, Inc. 818-524-0706

Huge 200k Price Reduction! Once-in-lifetime opportunity to acquire a 100% Vacant, 9 Unit building with 4 RTI ADUs (under construction) priced at only 276k/door in PrimeNorthwest Inglewood. Incredible current Cap Rate of 7% and 10.9 GRM after renovations. All vacant units are under renovation so buyers can complete them to their own taste and finishes and get top market rents. (Most of the rough construction and heavy lifting have been done). Excellent up-and-coming Inglewood location minutes from the Rams Stadium, Forum, Culver City, and Playa Vista. Individually metered for Gas & Electricity. Approved Plans to convert the garages to 2 attached ADUs and a portion of the carport to 2 detached ADUs for a total of 4 ADUs. Price/Unit, Cap Rate, & GRM are based on Total Price for sake of conservatism, which includes the remaining construction costs of 4 RTI ADUs 1,000 SF at 200/SF (200k).

23236697

MLS ID

January 27, 2022

Listed

March 23, 2024

Updated

Map

228 Stepney Street
Inglewood CA, 90302

Interior Features

Total Stories

2


Bedrooms

20 Beds


Bathrooms

15 Baths


Fireplace

No


Cooling

No


Heating

Yes


Heating Description

Wall Furnace

Exterior/Building Features

Lot Size

0.23 Acres


Architectual Style

Traditional

Other Property Details

Area Name

101 - North Inglewood


Days on Market

420


Garage

No


Parking

Uncovered


Parking Total

9


View

No


County

Los Angeles


Pool

No


Zoning

INR3YY


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

5/30/2023

Price Change

$2,848,000

-17%

5/30/2023

Sold

$2,848,000

Listing Contact: 818-524-0706 

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 3/23/2024. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

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Data last updated on 3/23/2024 at 1:16 AM UTC

 

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