816 Myrtle Avenue, Inglewood, CA 90301
-
Listed Price :
$2,550,000
-
Beds :
N/A
-
Baths :
N/A
-
Property Size :
N/A sqft
-
Year Built :
1956
Property Description
6.10% Cap Rate and 11.06 GRM on massive 19,250 sqft lot
zoned R3 with current in place cash flow. A new buyer can
develop 18 units by right or 27 units with 50% density
bonus allowed through the city. Perfect asset to land bank
for future development while achieving great in place
cash flow. Property can achieve 60% rental upside by
easily adding 3 ADUs.
Offered at $132/ft for land and just $231k/unit. Incredible
value here for any investor.
816 Myrtle is just two blocks away from So-Fi Stadium, The
Forum & NEW Intuit Dome! 11 bungalow style units situated
on a 19,250 sqft lot! The property is currently operating at
a 6.10% cap rate and 11.06 GRM with 60% upside available
once the ADUs are built. Each unit is separately metered
for gas and electric.
T he subject property is located only minutes away from
Sofi Stadium, YouTube Theater, Intuit Arena, LAX airport,
and many more developments.
Interior Features
| Laundry Information |
| Location(s) |
Inside |
| Bedroom Information |
| Bedrooms |
N/A |
| Bathroom Information |
| Bathrooms |
N/A |
Listing Information
| Address |
816 Myrtle Avenue |
| City |
Inglewood |
| State |
CA |
| Zip |
90301 |
| County |
Los Angeles |
| Listing Agent |
Cameron Samimi DRE #02035763 |
| Co-Listing Agent |
Michael Padilla DRE #01993341 |
| Courtesy Of |
Lyon Stahl Investment Real Estate, Inc. |
| List Price |
$2,550,000 |
| Status |
Active |
| Type |
Residential Income |
| Subtype |
Apartment |
| Structure Size |
N/A |
| Lot Size |
10,212 |
| Year Built |
1956 |
Listing information courtesy of: Cameron Samimi, Michael Padilla, Lyon Stahl Investment Real Estate, Inc.. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 20th, 2024 at 1:19 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
