816 Myrtle AVE Active Save Request In-Person Tour Request Virtual Tour
Inglewood,CA 90301
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
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 63% rental
upside by easily adding 3 ADUs.
Offered at $135/ft for land and just $236k a units.
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 5.53% cap rate and 11.90 GRM with 67% upside available
once the ADUs are built. Each unit is separately metered
for gas and electric.
The 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