228 Stepney Street

Inglewood, CA 90302

$2,800,000
Price
9
Beds
9
Baths
7,464 Sq. Ft.
$375 / Sq. Ft.
7,464
Sq. Ft.
$375
per Sq. Ft.

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...

Property Details for 228 Stepney Street

Zoning
INR3YY
Year Built Numeric
1962

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Property Details for 228 Stepney Street

StatusActive
MLS #21-715198
Days on Market78
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.23 AC / 10,012 SF
CountyLos Angeles County

Contact a Compass agent

Location

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Building Information for 228 Stepney Street

Stories2Residences-Year Built1962Building Size-Lot Size0.23 AC / 10,012 SF

Payment Calculator

$9,384 per month

30 year fixed, 2.95% Interest

Principal and Interest

$9,384

Property Taxes

HOA Dues

$0

Property Information for 228 Stepney Street

Summary
    Location and General Information
  • Directions: From La Brea, Turn East onto Stepney Street.
  • Year Built Source: Vendor Enhanced
  • Zip 4: 5707
  • City: Inglewood
  • Zip Code: 90302
  • County Or Parish: Los Angeles
  • Street Number Numeric: 228
  • Street Name: Stepney
  • State: CA
    Parking
  • Parking Garage: Carport, Carport Detached
  • Total Parking: 9
Property
    Property and Assessments
  • Assessed Improvement Percent: 52.38
  • Assessed Improvement Value: $411,814.00
  • Assessed Land Percent: 47.62
  • Assessed Land Value: $374,375.00
  • Assessed Total Value: $786,189.00
  • Assessor Parcel Number: 4016-017-012
  • Advertising Remarks: 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.
  • Disclosures: None
  • Source Living Area: Owner
  • Source Lot Size Area: Vendor Enhanced
  • Source Lot Size Dimensions: Vendor Enhanced
  • Number Of Photos: 6
    Lot Information
  • Area: North Inglewood (101)
  • Lot Acreage: 0.2299
  • Lot Size Dimensions: 50x200
  • Other Structures: Other
  • Service Level: Full Service
  • Living Area: 7464
  • Lot Size Area: 10012
Interior and Exterior Features
    Exterior Features
  • Water Heaters: Yes
    Interior Features
  • Baths Total: 9.0
  • Cooling: None
  • Equipment: Ceiling Fan
  • Number Of Stories: 2
  • Beds Total: 9
Multi Family
    Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Income: $243,580
  • Gross Operating Income: $236,272
  • Net Operating Income: $180,113.00
  • Total Annual Expense: 56159
    Unit Information
  • Type Of Units: Apartment
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114, 2115
    Unit 1 Information
  • Unit Beds1: 0
  • Unit Baths1: 1
  • Unit Projected Rent1: $1,495.00
  • Unit Actual Rent1: $.00
  • Unit Furnished1: No
  • Like Units1: 4
  • Unit Rent1: $1,495.00
    Unit 2 Information
  • Unit Projected Rent2: $1,895.00
  • Unit Furnished2: No
  • Like Units2: 1
  • Unit Rent2: $1,895.00
  • Unit Beds2: 1
  • Unit Baths2: 1
  • Unit Actual Rent2: $1,157.00
    Unit 3 Information
  • Unit Beds3: 1
  • Unit Baths3: 1
  • Unit Actual Rent3: $.00
  • Like Units3: 1
  • Unit Projected Rent3: $1,895.00
  • Unit Rent3: $1,895.00
  • Unit Furnished3: No
    Unit 4 Information
  • Unit Beds4: 1
  • Unit Baths4: 1
  • Like Units4: 1
  • Unit Actual Rent4: $1,317.00
  • Unit Projected Rent4: $1,895.00
  • Unit Rent4: $1,895.00
  • Unit Furnished4: No
    Unit 5 Information
  • Unit Beds5: 2
  • Unit Baths5: 2
  • Like Units5: 1
  • Unit Projected Rent5: $2,495.00
  • Unit Actual Rent5: $2,495.00
  • Unit Rent5: $2,495.00
  • Unit Furnished5: No
    Unit 6 Information
  • Unit Beds6: 1
  • Unit Baths6: 1
  • Like Units6: 1
  • Unit Actual Rent6: $.00
  • Unit Projected Rent6: $1,895.00
  • Unit Rent6: $1,895.00
  • Unit Furnished6: No
    Unit 7 Information
  • Unit Beds7: 1
  • Unit Baths7: 1
  • Like Units7: 1
  • Unit Actual Rent7: $.00
  • Unit Projected Rent7: $1,895.00
  • Unit Rent7: $1,895.00
  • Unit Furnished7: No
    Unit 8 Information
  • Unit Beds8: 2
  • Unit Baths8: 1
  • Unit Furnished8: No
  • Like Units8: 1
  • Unit Projected Rent8: $2,495.00
  • Unit Actual Rent8: $1,350.00
  • Unit Rent8: $2,495.00
    Unit 9 Information
  • Unit Beds9: 1
  • Unit Baths9: 1
  • Unit Furnished9: No
  • Like Units9: 1
  • Unit Projected Rent9: $1,895.00
  • Unit Actual Rent9: $.00
  • Unit Rent9: $1,895.00
    Unit 10 Information
  • Unit Beds10: 1
  • Unit Baths10: 1
  • Unit Furnished10: No
  • Like Units10: 1
  • Unit Projected Rent10: $1,895.00
  • Unit Actual Rent10: $1,157.00
  • Unit Rent10: $1,895.00
Rental
    Rental Information
  • Vacancy Rate: 33
  • Gross Rent Multiplier: $12.30
  • Number Of Buildings: 1
  • Number Of Units: 13

Property History for 228 Stepney Street

DateEvent & SourcePriceAppreciation
May 21, 2021

Price Change

CRMLS #21715198

$2,800,000
May 21, 2021

Price Change

CLAW #21-715198

$2,800,000
Apr 5, 2021

Withdrawn / Cancelled

CRMLS #21692016

DateEvent & SourcePrice
05/21/2021

Price Change

CRMLS #21715198

$2,800,000
05/21/2021

Price Change

CLAW #21-715198

$2,800,000
04/05/2021

Withdrawn / Cancelled

CRMLS #21692016

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 228 Stepney Street

Taxable ValueLand$397,288Additions$437,020Total$834,308
Tax Record2020$12,796 ($1,066 / month)
Home Facts
Total Finished SqFt6,464 SqFtAbove Grade Finished SqFt6,464 SqFtLot Size10,012 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningINR3YYCountyLOS ANGELESAPN4016017012

Schools near 228 Stepney Street


SchoolTypeGradesDistanceRating
Kids' Castle Child Care CenterPrivateK0.3 mi
NR
Wilder's Preparatory Academy Charter MiddleCharter6-80.3 mi
9
Wilder's Preparatory Academy CharterCharterK-50.3 mi
9
Slauson Learning Center, No. 2Private1-90.4 mi
NR

Kids' Castle Child Care Center

K, 0.3 mi, Private

NR

Wilder's Preparatory Academy Charter Middle

6-8, 0.3 mi, Charter

9

Wilder's Preparatory Academy Charter

K-5, 0.3 mi, Charter

9

Slauson Learning Center, No. 2

1-9, 0.4 mi, Private

NR

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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228 Stepney Street is a multi-family home for sale in Inglewood, CA 90302. This property was listed for sale on April 5, 2021 by Global Platinum Properties, Inc. at $2,800,000. It has been on the market for a total of 79 days and was last sold on September 18, 2020. This listing's school district is Inglewood Unified School District. Nearby schools include Kids' Castle Child Care Center, Wilder's Preparatory Academy Charter Middle and Wilder's Preparatory Academy Charter. 228 Stepney Street is a 9-bed, 9-bath, 7,464 sqft multi-family home built in 1962.

All data, including all measurements and calculations of area, is obtained from various sources, is approximate, and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of such measurements and Compass expressly disclaims any liability in connection with such measurements.

Listing Courtesy of Global Platinum Properties, Inc., Armin Soleimani, DRE #01846872; Global Platinum Properties, Inc., Julio Ruiz, DRE #01911261

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.