Description

We are proud to present 414 Stepney Street, a unique opportunity for a developer to build up to 49 units by-right or 68 units with density bonus. In addition, a developer has the option to build 100% affordable units which would allow for an unlimited amount of units to be built.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.Inglewood is a city located in southwestern Los Angeles County, California, USA. With a population of over 100, 000 people, it is a vibrant and diverse community that offers a mix of urban and suburban living. The city is known for its thriving entertainment industry, with famous venues such as The Forum and the SoFi Stadium. In addition, it is home to several major companies, including aerospace and technology firms, making it an important hub for business and industry. The city also boasts a number of parks and recreational facilities, as well as a rich cultural heritage, with a variety of ethnic festivals and events held throughout the year. Despite facing some economic and social challenges in recent years, Inglewood remains a dynamic and exciting place to live, work, and visit.

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Listed by: Marcus Millichap