414 Stepney Street, Inglewood, CA 90302
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Listed Price :
$9,750,000
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Beds :
N/A
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Baths :
N/A
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Property Size :
N/A sqft
Property Description
We are proud to present 414 Stepney Street, a unique opportunity for a developer to build 100% affordable units which would allow for unlimited density.The Offering is comprised of 54,484 square feet of land (approx. 1.25 acres) zoned R3/MU. The Site is currently run as a mobile home park and grosses $442,000 per year. This allows for a developer to cash flow while plans and entitlements are drafted for the sites highest and best use. The Lot is located on the corner of Centinela Avenue and Stepney Street just North of Florence Avenue in the highly sought after City of Inglewood. With a Walk Score of 84, The Offering is located less than 2 miles from Hollywood Park, home to the $6B Sofi Stadium and the highly anticipated $2B Intuit Dome new home of the LA Clippers. The master planned community will also include approximately 3,000 new residential units, 1.5 million square feet of new retail space, and 20 acres of parkland. The City of Champions is known for its extraordinary sports history, but more importantly for investors, it is known as a development hub with superb investment opportunities due to its pro-growth and user-friendly municipal government which caters to progression. Exciting developments have brought the world to the City of Inglewood for sports, entertainment, and business opportunities. But for Inglewood residents, these changes have come at a cost with rising rents leading to tough choices.The Inglewood Home Assist Fund (Inglewood Fund), made possible by the City of Inglewood and Mayor James T. Butts in connection with the construction of the Intuit Dome, takes center court as a $75 million initiative to meet the growing demand for housing in the City of Inglewood. Century Housing, along with our partners, will administer the fund by lending to qualified developers for the acquisition, development, and preservation of affordable and mixed-income housing. Developers based in Inglewood will receive priority.
Interior Features
Bedroom Information |
Bedrooms |
N/A |
Bathroom Information |
Bathrooms |
N/A |
Listing Information
Address |
414 Stepney Street |
City |
Inglewood |
State |
CA |
Zip |
90302 |
County |
Los Angeles |
Listing Agent |
Filip Niculete DRE #01905352 |
Co-Listing Agent |
Glen Scher DRE #01962976 |
Courtesy Of |
Marcus & Millichap |
List Price |
$9,750,000 |
Status |
Active |
Type |
Land |
Structure Size |
N/A |
Lot Size |
54,484 |
Listing information courtesy of: Filip Niculete, Glen Scher, Marcus & Millichap. *Based on information from the Association of REALTORS/Multiple Listing as of Apr 24th, 2024 at 3:03 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.