Ten-Unit Apartment Building with Copper
For Sale
$2,650,000
230 Stepney St, Inglewood, CA 90302
Residential Income, Mid-Century, Inglewood, CA
Property Size9,260 SF
Lot Size0.23 Acres
Price / SF$286.18
Days on Market66
Property Features for 230 Stepney St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
INR3YY
Bedrooms
17
Bathrooms
11
Full bathrooms
14
Rooms
Bathroom 4, Bedroom 8, Bathroom 6, Bedroom 6, Bedroom 2, Bathroom 14, Bedroom 17, Bedroom 1, Bathroom 13, Bedroom 15, Bathroom 10, Bedroom 3, Bedroom 10, Bedroom 14, Bathroom 5, Bathroom 8, Bathroom 9, Bedroom 4, Bedroom 16, Bathroom 11, Bathroom 1, Bathroom 12, Bedroom 5, Bedroom 11, Bedroom 9, Bedroom 13, Bedroom 7, Bathroom 7, Bathroom 2, Bedroom 12, Bathroom 3
Parking
10
Parking features
Carport
Window features
Blinds, Screens
Interior features
220V Throughout, Common Walls
Appliances
Free Standing Gas
Elementary school district
Inglewood Unified
Middle school district
Inglewood Unified
High school district
Inglewood Unified
Directions
Take La Brea to Hazel St then turn east, go one short block to Market St then turn left, go one short block to Stepney then turn right go to middle of block and subject property will be on south side (right side of street) of street.
Subdivision
North Inglewood
Standard status
Active
APN
4016-017-013
Size
9,260 SF
Lot size
0.23 Acres
Utilities
Heating system
Forced Air
Building Details
Year built
1960
Floors in Building
2
Number of units
10
Flooring type
Tile - Stone, Carpet
Roof type
Flat
Architectural style
Other
Listing Agency:
Realty Executives Westside · Realty Executives International
(310) 737-1992
Listed By:
Eugene Anthony · License #00634953
(213) 700-1071
Added: Jun 25
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# 26858849
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Ten-unit apartment building on copper plumbing throughout, with forced-air heating and carpet and tile/stone flooring. The property includes common walls and 220V service throughout, a flat roof, and a free-standing gas appliance. A new central hot water heater was recently added.
The unit mix consists of one 3-bedroom/1.75-bath unit, five 2-bedroom units (some with 1.75 baths), and four 1-bedroom/1-bath units. The building is zoned INR3YY and sits on a 0.2296-acre lot with 9,260 square feet of property size. Built in 1960, the property offers carport parking.
Located in Inglewood, the property is near Sofi Stadium, Kia Forum, Hollywood Park Casino, and Intuit Dome. The subject property is part of a package of 3 apartment buildings and can be purchased individually or as a package.
The unit mix consists of one 3-bedroom/1.75-bath unit, five 2-bedroom units (some with 1.75 baths), and four 1-bedroom/1-bath units. The building is zoned INR3YY and sits on a 0.2296-acre lot with 9,260 square feet of property size. Built in 1960, the property offers carport parking.
Located in Inglewood, the property is near Sofi Stadium, Kia Forum, Hollywood Park Casino, and Intuit Dome. The subject property is part of a package of 3 apartment buildings and can be purchased individually or as a package.
Key Highlights
- Ten‑unit building with one 3‑bedroom/1.75‑bath unit, five 2‑bedroom units (some 1.75 baths), and four 1‑bedroom/1‑bath units
- Copper plumbing throughout and recently added new central hot water heater
- 9,260 SF on 0.2296‑acre lot zoned INR3YY
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,701
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,294,020
$2.3M
Cap Rate 7%
$1,638,586
$1.6M
Cap Rate 9%
$1,274,456
$1.3M
Market Conditions
NOI Build-Up for 9,260 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$210.0K $22.68/SF
− Vacancy
−$1.5K −$0.16/SF
EGI
$208.5K $22.52/SF
− OpEx
−$93.8K −$10.13/SF
NOI
$114.7K $12.39/SF
Area
Inglewood, CA
Vacancy
0.70%
Lease Rate
$22.68 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,294,020
Cap Rate 7%
$1,638,586
Cap Rate 9%
$1,274,456
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,701 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,466 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
2,001
Businesses Nearby
Explore this area
Business Placement
Demographics for 90302, CA
29,264
Population
11,366
Households
2.6
Avg Household Size
36
Median Age
30%
College-Educated
81%
High-School Grad
1.9 sq mi
ZIP Area
15,402
Density / Sq Mi
$72,461
Median Household Income
$37,675
Median Earnings
$1,784
Median Rent
$731,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Ten-unit apartment building with copper plumbing and forced-air heat, plus carport parking and a recently added central hot water heater.
Where is this apartment building located?
The property is located at 230 Stepney St Inglewood, CA.
What is the asking price?
The asking price for this property is $2,650,000.
What are key features of this property?
This property features: Ten‑unit building with one 3‑bedroom/1.75‑bath unit, five 2‑bedroom units (some 1.75 baths), and four 1‑bedroom/1‑bath units; Copper plumbing throughout and recently added new central hot water heater; 9,260 SF on 0.2296‑acre lot zoned INR3YY
