816 Myrtle AVE Active

Inglewood,CA 90301

$ 2550000

- Bed

- Bath

6162 SqFt


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

HOA Y/N No

Year Built 1956

Lot Size 10,210 Sqft

Acres 0.2344

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

Fireplace No

Laundry Inside

Exterior

Garage Spaces 4.0

Garage Description 4.0

Pool None

Community Features Urban

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 1

Entry Level One

Sewer Public Sewer

Water Public

Level or Stories One

New Construction No

Others

Senior Community No

Tax ID 8649018033

Acceptable Financing Cash,Cash to New Loan,Conventional,1031 Exchange

Listing Terms Cash,Cash to New Loan,Conventional,1031 Exchange

Special Listing Condition Standard

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