8-Unit Apartment
New
For Sale
$1,925,000
308 Stepney St, Inglewood, CA 90302
A varied bedroom mix is complemented by covered parking and a two-car garage.
Property Size8,571 SF
Lot Size0.23 Acres
Price / SF$224.59
Days on Market3
Property Features for 308 Stepney St
General Information
Standard status
Active
Size
8,571 SF
Total Parking Spaces
14
Lot size
0.23 Acres
Property subtype
Investment
Financials
Asking Price
$1,925,000
Cap Rate
6.05%
Gross Rent Multiplier
9.31
Site & Location
Neighborhood
Fairview Heights
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 3 x 2BR/1BA, 2 x 2BR/2BA, 2 x 1BR/1BA
Multifamily Units
8
Additional Details
Tenant in Place
Yes
Building Details
Building Size
8,571 SF
Year Built
1966
Units
8
Listing Agency:
Lyon Stahl Investment Real Estate
Listed By:
Brett Lyon · License #01717818
(310) 706-4066
Source:
Elliman
Added: Nov 4
Last Checked: Nov 4 at 2:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lyon Stahl Investment Real Estate
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Investment Insights
Based on property information with market context.
Built in 1966, this eight-unit apartment property contains 8,571 square feet of improvements on a 9,997-square-foot lot. The apartments include one four-bedroom, two-bath unit; three two-bedroom, one-bath units; two two-bedroom, two-bath units; and two one-bedroom, one-bath units. Parking totals 14 spaces, including 10 covered spaces, two driveway spaces, and a two-car garage.
The property is in North Inglewood, with access to the 405 and 105 freeways. Nearby destinations named for the area include LAX, Culver City, SoFi Stadium, Intuit Dome, Hollywood Park, and the Kia Forum. Current rents are approximately 18% below projected market rents. The stated in-place metrics are a 6.05% cap rate and 9.31 GRM; projected market rents support a 7.93% cap rate and 7.86 GRM.
The property is in North Inglewood, with access to the 405 and 105 freeways. Nearby destinations named for the area include LAX, Culver City, SoFi Stadium, Intuit Dome, Hollywood Park, and the Kia Forum. Current rents are approximately 18% below projected market rents. The stated in-place metrics are a 6.05% cap rate and 9.31 GRM; projected market rents support a 7.93% cap rate and 7.86 GRM.
Key Highlights
- Eight apartments with a mix of one-, two- and four‑bedroom floor plans
- 8,571 square feet of improvements on a 9,997‑square‑foot lot
- 14 parking spaces: 10 covered, two in the driveway and a two‑car garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,166
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,123,320
$2.1M
Cap Rate 7%
$1,516,657
$1.5M
Cap Rate 9%
$1,179,622
$1.2M
Market Conditions
NOI Build-Up for 8,571 SF
Gross rent
$194.4K $22.68/SF
− Vacancy
−$1.4K −$0.16/SF
EGI
$193.0K $22.52/SF
− OpEx
−$86.9K −$10.13/SF
NOI
$106.2K $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 Rate 5%
$2,123,320
Cap Rate 7%
$1,516,657
Cap Rate 9%
$1,179,622
Alternative Uses
Best Use
Apartment 5plus
$1.52M
$1.33M – $1.77M
NOI $106,166 @ 7.0% cap · market cap 5.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $244,788 @ 7.0% cap · market cap 12.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,845
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - A varied bedroom mix is complemented by covered parking and a two-car garage.
Where is this apartment building located?
The property is located at 308 Stepney St Inglewood, CA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Eight apartments with a mix of one-, two- and four‑bedroom floor plans; 8,571 square feet of improvements on a 9,997‑square‑foot lot; 14 parking spaces: 10 covered, two in the driveway and a two‑car garage
