$2,550,000
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816 Myrtle Avenue Inglewood, CA 90301
Apartment
Residence
Beds
Baths
...
Bed/Bath
6,162
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
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. Pr...operty 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.
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MLS#
SB24178799
Property Type
Apartment
Year Built
1956
Square Feet
6,162
sq. ft
Lot Size
0.23
Stories
1.0
Sewer
Public Sewer
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