816 Myrtle AVE Active Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90301
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,162 sqft
Price per Sqft $413
MLS Listing ID SB24178799
Year Built 1956
Lot Size 10,210 Sqft
Property 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.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Rooms
Ensuite Laundry Inside
Interior
Laundry Location Inside
Heating Central
Laundry Inside
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Urban
Building
Lot Description 0-1 Unit/Acre
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange
Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange
Special Listing Condition Standard