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 #
CRSB24178799
MLS Source
California Regional MLS
Days on Site
69
Appliances
Other
Heating
Central Forced Air
Garage/Parking
Garage: 4 Car(s)
Listing Agent
Cameron Samimi
Lyon Stahl Investment Real Estate, Inc.
License #: 02035763
Phone: –
Co-Listing Agent
Michael Padilla
License #: 01993341
Phone: (310) 420-2541
# Buildings | # Leased Units | # Total Units |
---|---|---|
7 | – | – |
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.©2024 California Regional MLS. All rights reserved. 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. Information provided is for personal, non-commercial use by the viewer and may not be redistributed without explicit authorization from California Regional MLS.
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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