414 stepney street
inglewood, ca 90302

PRICE: UNDISCLOSED

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PHENOMENAL DEVELOPMENT OPPORTUNITY​

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Elijah Suval and Daniel Hirth of The Hirth Group have been exclusively selected to market for sale 414 Stepney Street is comprised of 38 unit mobile home units, 9 apartments and 1 residential home and currently generating $436,000  gross annually. This asset presents a phenomenal development opportunity.  Per title, the property consists of ±54,494 SF of developable land zoned MU-C/R3. 

 

Inglewood is in the middle of a massive transformation and has seen significant developments in recent years, making this 1.25-acre lot a developers’ dream. By right, you can do 68-units but with Inglewood’s density bonus programs, a developer can easily achieve 100+ units.  The exact number of additional units depends on the extent of incentives the developer wishes to use when working with the city. 

 

414 Stepney Street is strategically located off Centinela Avenue, just south of E. Hyde Park Boulevard, and four blocks north of Florence Avenue, walking distance to the Downtown Inglewood station Metro Rail.  Within direct proximity to the subject property, there are about 500+ new apartment units that are either developed or finishing construction with hundreds more getting ready to break ground. Inglewood has seen billions of dollars pour into the community while looking to be the next entertainment hotspot in Southern California. 

 

SoFi Stadium and the Intuit Dome are the leading drivers of that force followed by The Forum and recently renovated Hollywood Park Casino. New hotels and development projects are popping up left and right.  Inglewood is in the process of turning the corner into becoming one of Los Angeles most coveted destinations and this is a developers chance to get in on the action before it’s too late.