Property Details
About this Property
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.
MLS Listing Information
MLS #
CRSB24178799
MLS Source
California Regional MLS
Days on Site
69
Interior Features
Appliances
Other
Heating
Central Forced Air
Parking, School, and Other Information
Garage/Parking
Garage: 4 Car(s)
Contact Information
Listing Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
License #: 02035763
Phone: –
Co-Listing Agent
Michael Padilla
License #: 01993341
Phone: (310) 420-2541
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 7 | – | – |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
816 Myrtle Ave is a Residential Income in Inglewood, CA 90301. This – square foot property sits on a – Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $2,550,000 and was built in 1956. This address can also be written as 816 Myrtle Ave, Inglewood, CA 90301.
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This listing information is up-to-date as of October 23, 2024. For the most current information, please contact Cameron Samimi
