$2,450,000
$2,550,000
3.9%For more information regarding the value of a property, please contact us for a free consultation.
818 Myrtle AVE #1 Inglewood, CA 90301
0.44 Acres Lot
Key Details
Sold Price $2,450,000
Property Type Apartment
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB25011648
Sold Date 05/30/25
HOA Y/N No
Year Built 1937
Lot Size 0.442 Acres
Property Sub-Type Apartment
Property Description
6.24% Cap Rate and 10.89 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 6.24% cap rate and 10.89 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. OM in supplements.
Location
State CA
County Los Angeles
Area 699 - Not Defined
Interior
Fireplace No
Laundry Washer Hookup, Gas Dryer Hookup
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 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 4024005018
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Financing Cash to New Loan
Special Listing Condition Standard
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Bought with Cameron Samimi Lyon Stahl Investment Real Estate, Inc.
