tomo logo

$2,550,000

Beds
Unknown
sq ft
Unknown

816 Myrtle Ave, Inglewood, CA 90301

816 Myrtle Ave

Inglewood, CA 90301

  • 111 days on market
    • Price drop $50,000↓
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.

Details

Property type

Apartment

Lot size

0.2344 acres

Price per sq ft

Unknown

Year built

1956

Price History

10/01/2024
CRMLS

CRMLS #SB24178799

Price change
$2,550,000
-1.92%
09/03/2024
CRMLS

CRMLS #SB24178799

Listed
$2,600,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Status: Active

Tomo last checked: 12/22/2024 at 11:05 PM

Listing updated: 12/04/2024 at 6:21 PM

Listed by: Cameron Samimi, Lyon Stahl Investment Real Estate, Inc. Phone #: (310) 425-9838

MLS: CRMLS #SB24178799

CRMLS logo

Recently listed in Inglewood