| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 33rd | Poor |
| Amenities | 90th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 337 Stepney St, Inglewood, CA, 90302, US |
| Region / Metro | Inglewood |
| Year of Construction | 1987 |
| Units | 20 |
| Transaction Date | 2014-10-21 |
| Transaction Price | $2,900,000 |
| Buyer | EARTHSTREAM EREHANGE COMPANY LLC |
| Seller | ECL SEVEN LP |
337 Stepney St Inglewood 20-Unit Multifamily Opportunity
Renter concentration and a high-cost ownership landscape in Inglewood point to durable tenant demand, according to WDSuite’s CRE market data, supporting a steady hold with operational upside.
Situated in Inglewood’s Urban Core, the neighborhood carries a B+ rating and is competitive among Los Angeles-Long Beach-Glendale neighborhoods (443rd of 1,441), signaling balanced fundamentals for multifamily. Amenity access is a clear strength, with grocery, parks, pharmacies, and cafes testing well above national medians — a convenience profile that supports resident retention and lease-up.
Neighborhood occupancy has tracked in the low-90s and eased modestly over the past five years, suggesting the need for disciplined leasing and renewals rather than aggressive rent pushes. At the same time, a renter-occupied share near two-thirds indicates a deep tenant base, which typically supports occupancy stability for professionally managed assets.
Within a 3-mile radius, recent population trends were slightly negative while household counts edged up, and forecasts point to more households over the next five years — a setup that can expand the renter pool even if average household sizes continue to trend smaller. Elevated home values relative to national norms frame the area as a high-cost ownership market, which generally sustains reliance on rental housing and can underpin pricing power for well-maintained, correctly positioned units.
The property’s 1987 vintage is newer than the neighborhood’s older average stock, offering competitive positioning versus mid-century assets while still warranting targeted modernization for systems and finishes to capture value-add upside.
Safety indicators benchmark favorably at the national level, landing in the top quartile of neighborhoods nationwide. Compared with regional peers, the area is competitive among Los Angeles neighborhoods, and recent year-over-year readings show notable declines in both property and violent offense rates, based on CRE market data from WDSuite. Investors should still underwrite security line items to submarket norms and property-specific factors rather than block-level assumptions.
Proximity to diversified employers supports a broad renter base and commute convenience for residents, including technology, consumer products, and air transportation roles located within an easy drive.
- Symantec — cybersecurity (2.34 miles)
- Southwest Airlines Counter — air transportation services (3.29 miles)
- Microsoft Offices The Reserves — technology offices (4.22 miles)
- Mattel — consumer products & toy manufacturing (4.25 miles) — HQ
- Activision Blizzard — video game publishing (6.59 miles) — HQ
337 Stepney St offers a 20-unit scale with 1987 construction — newer than much of the surrounding inventory — positioning it to compete effectively against older stock with selective upgrades. Demand fundamentals are supported by a high renter-occupied share at the neighborhood level and elevated home values that reinforce reliance on multifamily housing. Neighborhood occupancy remains in the low-90s, and amenity access is strong, which can aid retention and reduce leasing friction.
According to CRE market data from WDSuite, households within a 3-mile radius are expected to increase over the next five years, pointing to a larger tenant base for stabilized assets. Underwriting should account for affordability pressure — reflected in rent-to-income dynamics — and for the modest softening in neighborhood occupancy, but the combination of diversified nearby employers and competitive vintage creates a balanced, long-term thesis.
- 1987 vintage outpositions older neighborhood stock, with clear value-add pathways through targeted modernization
- Renter-occupied concentration and elevated ownership costs support depth of tenant demand and lease retention
- Strong amenity access and proximity to major employers bolster occupancy stability
- Forecast household growth within 3 miles expands the renter pool and supports long-run absorption
- Risk: affordability pressure and recent softening in neighborhood occupancy call for disciplined rent management and renewals