CA > Inglewood
Inglewood, CA 90301,818 Myrtle Avenue
Inglewood, CA 90301,818 Myrtle Avenue
Inglewood, CA 90301,818 Myrtle Avenue
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$2,550,000
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5 Beds
4 Baths
0.44 Acres Lot
Active

818 Myrtle Avenue Inglewood, CA 90301

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Richard Combs

Richard Combs

+1(619) 838-9307

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SB25011648

Bedrooms 5

HOA Y/N No

Lot Size 0.442 Acres

Property Sub-Type Res Income 2-4 Units

Property Description

6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.
6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.

Location

State CA

County Los Angeles

Area Inglewood (90301)

Zoning Assessor

Building

Story 2

Others

Acceptable Financing Cash, Conventional, Exchange

Space Rent $2,800

Listing Terms Cash, Conventional, Exchange

San Diego Regional MLS (SDMLS)
Listed by Cameron Samimi • Lyon Stahl Investment Real Estate, Inc.

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agent

Richard Combs

Broker | License ID: 01526804

+1(619) 838-9307

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818 Myrtle Avenue

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