Listing provided courtesy of Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.. Last updated 2024-11-06 09:11:25.000000. Listing information © 2024 Sandicor.
Asking Price: $2,550,000
816 Myrtle, Inglewood CA 90301
Community: 699 - Not Defined
This Apartment property was built in 1956 and is priced at $2,550,000. Please see the additional details below.
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.
