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.
Features
: No
: Central
: No
: No
: No
: 4
: No
Address Map
U.S.
California
Los Angeles
Inglewood
90301
816 Myrtle Avenue
0
W119° 39' 5.9''
N33° 57' 12.7''
MLS Addon
$0
6,162 Sqft
: No
: No
5.53
0
Off of Arbor Vitae and Prairie Ave
4
: No
1
SBPADIMIC
Residential Income For Sale Inglewood
816 Myrtle Avenue, Inglewood, Los Angeles, California, 90301
10,212 Acre
Visits : 7 in 22 days
$2,600,000
Listing ID #SB24178799
Basic Details
Property Type : Residential Income
Listing Type : For Sale
Listing ID : SB24178799
Price : $2,600,000
Year Built : 1956
Lot Area : 10,212 Acre
Status : Active
Property Sub Type : Apartment
Agent info
Damian M. Ramirez
- View website
- (714) 292-7224
- (714) 292-7224
- (800) 243-0149
-
-
- 01974515
- 1213238
- PWDAMRA
Broker
A level-headed and composed professional.
Combat veteran and experienced CEO with the ability to train and motivate staff to meet challenging performance targets and consistently satisfy clients with high-quality service.
Contact Agent
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