816 Myrtle Avenue , Inglewood, CA 90301
Inglewood, CA 90301
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.
Details
| Mls | SB24178799 |
|---|---|
| Listing Type | For Sale |
| Style | Attachd |
| Subtype | Resale |
| Status | Active |
| Year | 1956 |
| Days On Site | 101 |
| Listing Provided By | Lyon Stahl Investment Real Estate, Inc. 310-425-9838 | Cameron Samimi |
Features
| Sq Feet | 6,162 |
|---|---|
| Garage | 4 |
| Storys | 1 |
| Units | 11 |
| Buildings | 7 |
| Acreage | 0.23 |
Market Activity 90301
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Learn More About This Property
| State | CA |
|---|---|
| County | Los Angeles |
| City | Inglewood |
| Zip Code | 90301 |
| Area | 699 Not Defined |
| Listing VS Median (in 90301) | |
Price: $2,550,000 low | high Med: $690,000 SqFt: 6,162 low | high Med: 882 $ / SqFt: $414 low | high Med: $782 On Site: 101 low | high Med: 154.000000 | |
