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.
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.
Property Details
Price:
$2,550,000
MLS #:
SB25011648
Status:
Active
Baths:
0
Address:
818 Myrtle Avenue
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
699notdefined
City:
Inglewood
Listed Date:
Jan 16, 2025
State:
CA
ZIP:
90301
Lot Size:
19,250 sqft / 0.44 acres (approx)
Year Built:
1937
See this Listing
Mortgage Calculator
Schools
Interior
Exterior
Community Features
Urban
Garage Spaces
4.00
Lot Features
0-1 Unit/ Acre
Parking Spots
4.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address818 Myrtle Avenue Inglewood CA
- Area699 – Not Defined
- CityInglewood
- CountyLos Angeles
- Zip Code90301
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Courtesy of Lyon Stahl Investment Real Estate, Inc.. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2025. California Regional Multiple Listing Service. All rights reserved.818 Myrtle Avenue
Inglewood, CA
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