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$ 2,899,999
Est. payment /mo
New
578 Stepney Street Inglewood, CA 90302
8,208 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 8,208 sqft
Price per Sqft $353
MLS Listing ID CL26104531
HOA Y/N No
Year Built 1987
Lot Size 0.459 Acres
Acres 0.4593
Property Sub-Type Other
Property Description
Kidder Mathews is pleased to present 578 Stepney St, a 9-unit apartment community in Inglewood, California. The property is offered at $2,899,999, or $322,222 per unit and $353 per SF.Built in 1987, the property consists of two-story buildings with 8,208 SF of rentable area on an approximately 20,000 SF (0.46-acre) lot. The unit mix is eight 2-bedroom/1.5-bath townhome-style units of approximately 975 SF each and one 1-bedroom/1-bath unit of approximately 600 SF. The lot is large for 9 units, and recent changes to California law allow additional accessory dwelling units (ADUs) by right. Under SB 1211, a buyer may add up to 8 detached ADUs, plus up to 2 ADUs converted from non-living space inside the existing buildings. Because the property is near qualifying transit, the new ADUs may be built two stories tall and need no added parking. This creates a path to as many as 17 units on the site by converting carports into 2-story ADUs and the development of a 2,750 SF vacant rear yard, resulting in a pro forma cap rate of 8.7% at $241,176 per unit and $311 per SF. The property is about 1.5 miles from SoFi Stadium and about 2 miles from Intuit Dome, in one of Los Angeles County's most actively redeveloping submarkets.
Location
State CA
County Los Angeles
Zoning INR2YY
Interior
Heating Other
Cooling Central Air
Fireplace No
Building
New Construction No
Others
Tax ID 4015006081
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Listed by Austin Mudd • Kidder Mathews of California, Inc.