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$ 2,550,000
Est. payment /mo
Active
818 Myrtle Avenue Inglewood, CA 90301
5 Beds
4 Baths
0.44 Acres Lot
UPDATED:
01/23/2025 09:59 AM
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB25011648
Bedrooms 5
HOA Y/N No
Lot Size 0.442 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.
6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.
6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.
Location
State CA
County Los Angeles
Area Inglewood (90301)
Zoning Assessor
Building
Story 2
Others
Acceptable Financing Cash, Conventional, Exchange
Space Rent $2,800
Listing Terms Cash, Conventional, Exchange
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.