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(323) 864-4211
Linda Roth Burrell
578 Stepney St, Inglewood, CA 90302
- $2,899,999
- 17
- BD
- 17
- BA
- 8,208
- SqFt
- List Price
- $2,899,999
- MLS#
- 26104531
- Year Built
- 1987
- Bedrooms
- 17
- Bathrooms
- 17
- Living Sq. Ft
- 8,208
- Lot Size
- 20,009
- Days on Market
- 1
- Property Type
- Multifamily
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.
Additional Information
- Other Buildings
- None
- Heat
- Central
- Cooling
- Central
- Number of Cars in Garage
- Carport, Carport Detached
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Courtesy of Kidder Mathews of California, Inc., Austin Mudd - CA DRE#02101587
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