414 Stepney St, Inglewood, CA 90302

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.