816 Myrtle Avenue
Inglewood, CA 90301
0.23 acres | #SB24178799
Description
CALL FOR OFFERS THURSDAY 9/26/24 @ 5PM
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 63% rental
upside by easily adding 3 ADUs.
Offered at $135/ft for land and just $236k a units.
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 5.53% cap rate and 11.90 GRM with 67% upside available
once the ADUs are built. Each unit is separately metered
for gas and electric.
The subject property is located only minutes away from
Sofi Stadium, YouTube Theater, Intuit Arena, LAX airport,
and many more developments.
Property Details
- Lot DescriptionItem01UnitAcre
- Stories1
Measurements
- Acres0.2344
Parking
- Parking Spaces4
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1956
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$2,600,000
Other
- MLS #SB24178799
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. 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
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Cameron Samimi (#SBSAMICAM)
Listing Office: Lyon Stahl Investment Real Estate, Inc. (#sb1310620)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
