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327 Stepney Street, Inglewood, California 90302, Inglewood, 90302 - bed, bath

327 Stepney Street, Inglewood, California 90302 home-pic-0
ACTIVE$4,750,000
327 Stepney Street, Inglewood, California 90302
0Bed
0Bath
15,698Sqft
20,013Lot
Year Built
1960
Close
-
List price
$4.75M
Original List price
$4.75M
Price/Sqft
$303
HOA
-
Days on market
-
Sold On
-
MLS number
SB25175206
Home ConditionFair
Features
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $4.75M(50th), sqft - 15698(50th), beds - undefined(50th), baths - undefined(50th).

327–331 Stepney Street presents a unique opportunity to acquire a 20-unit multifamily asset spread across two adjacent parcels in Northwest Inglewood. Set on a combined 20,013 SF lot, the property features a highly diverse unit mix—ranging from spacious 3-bedroom apartments to efficient studios—appealing to a wide tenant base in one of LA’s most rapidly evolving rental markets. The unit mix includes (1) 3-Bed/2-Bath, (1) 3-Bed/1-Bath, (1) 2-Bed/2-Bath, (6) 2-Bed/1.5-Bath, (2) 2-Bed/1-Bath, (2) 1-Bed/1-Bath, and (7) Studio units, totaling 15,698 rentable square feet. With an attractive in-place CAP rate of 5.44%, a low basis of $302.59 per square foot, and pricing at just $237,500 per unit, the property offers strong current income with significant upside. Investors can target approximately 20% rental growth, supporting a projected market CAP rate of 7.13%. Ideally located in a quiet residential pocket of Inglewood, and only 2.5 miles from the Intuit Dome and SoFi Stadium, the property is well-positioned to benefit from continued local development and tenant demand. With its favorable unit mix, strong fundamentals, and upside potential, 327–331 Stepney Street stands out as a compelling value-add investment in a high-growth submarket.

Nearby schools

4/10
Centinela Elementary School
Public,•K-6•0.5mi
4/10
Highland Elementary School
Public,•K-6•0.6mi
5/10
Hudnall (Claude) Elementary School
Public,•K-6•0.9mi
3/10
Kelso (William H.) Elementary School
Public,•K-6•1.2mi
4/10
Oak Street Elementary School
Public,•K-6•1.4mi
1/10
Lane (Warren) Elementary School
Public,•K-6•1.7mi
2/10
Crozier (George W.) Middle School
Public,•7-8•1.0mi
/10
Monroe (Albert F.) Middle School
Public,•6-8•2.7mi
2/10
Inglewood High School
Public,•9-12•0.8mi
2/10
Morningside High School
Public,•9-12•2.4mi

Price History

Date
Event
Price
08/04/25
$4,750,000
Condition Rating
Fair
The property was built in 1960, making it over 60 years old. While the exterior appears to be maintained with some modern landscaping (artificial turf), there are no interior images provided for any of the 20 units. This lack of interior photos, combined with the listing's description as a 'value-add investment' with 'significant upside' and potential for '20% rental growth,' strongly suggests that the individual units, including kitchens and bathrooms, are largely original or have only received cosmetic updates over the years, not extensive modern renovations. The presence of window/wall AC units visible in some exterior shots further indicates that major systems are likely functional but outdated. The property is not in disrepair (ruling out 'Poor' or 'Tear-down'), but it clearly requires significant updates to meet current market expectations and achieve its full potential, aligning with the 'Fair' condition criteria.
Pros & Cons

Pros

Large Scale Multifamily Asset: The property comprises 20 units spread across two adjacent parcels, offering significant scale and diversification for a multifamily investment.
Diverse Unit Mix: With a wide range of unit sizes from studios to 3-bedroom apartments, the property appeals to a broad tenant base, enhancing occupancy stability and market reach.
Strategic Location in High-Growth Market: Ideally located in a quiet residential pocket of Inglewood, just 2.5 miles from the Intuit Dome and SoFi Stadium, positioning it to benefit from continued local development and strong tenant demand.
Strong Financial Performance & Upside Potential: Features an attractive in-place CAP rate of 5.44% with significant projected rental growth of approximately 20%, supporting a market CAP rate of 7.13% and indicating substantial income upside.
Favorable Pricing Metrics: The property is priced competitively at a low basis of $302.59 per square foot and $237,500 per unit, offering a compelling entry point for investors.

Cons

Age of Property: Built in 1960, the property is likely to have outdated systems and finishes, potentially requiring significant capital expenditure for modernization and deferred maintenance to achieve full market potential.
Value-Add Requires Active Management & Investment: While offering upside, its 'value-add' nature means realizing the projected rental growth and higher CAP rate will necessitate active management, strategic renovations, and rent increases, which are not passive endeavors.
Potential for High Renovation Costs: To achieve the stated 20% rental growth and higher market CAP rate, extensive unit and common area upgrades are likely required, which could entail considerable upfront costs and project management complexities.

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