308 Stepney St, Inglewood, CA 90302

Property Description

The subject property is a very clean 8 unit building with an outstanding unit mix of two one bedroom/one bathroom units, three two bedroom/one bathroom units, two two bedroom/two bathroom units, and one large four bedroom/two bathroom unit. The units are large and nicely laid out. • Excellent Unit Mix • Covered Parking, On-Site Laundry, & Some Units have Balconies • Individually Metered for Gas & Electricity • Area Experiencing Massive Redevelopment • Recently Repainted, Roof & Plumbing Redone in the Past 10 Years • Low Cost per Square Foot (Very Large Rental Square Footage) • Rental Square Footage is 8,500+ and the Lot is Almost 10,000 SF • Over 25% Upside in Market vs. Current Rents. The building is located in the NW section of Inglewood that boasts some of the strongest rental demand and rental amounts in the area. Further, the property serves to benefit from the recent closure of Hollywood Park which will make room for 3,000 new housing units, including single-family townhomes and condos; 25 acres of park land, including a 10-acre central park; and a retail and entertainment district, anchored by a movie theatre, office space and a 300-room hotel.