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816 Myrtle Avenue

Inglewood, CA 90301

– beds
– baths
– sqft
10,212 sqft lot
1956 build
– on site

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.

Listed By CRMLS_CA / Cameron Samimi / Lyon Stahl Investment Real Estate, Inc. / 310-259-7556

Last checked: Checking… • Last updated Oct 23, 2024 •

MLS# SB24178799 —

The Building

Year Built:

1956
Year Built Source:

Assessor
New Construction:

No
Entry Level:

1
Common Walls:

2+ Common Walls
Building Area Total:

6162.00
Building Area Units:

Square Feet
# of Buildings:

7
Total Number Of Units:

11
Stories Total:

1
# of Separate Gas Meters:

11
# of Separate Water Meters:

1
# of Separate Electric Meters:

11

Interior

Levels:

One
Entry Location:

1
Laundry:

Inside
Laundry:

1

Location

Directions:

Off of Arbor Vitae and Prairie Ave
Latitude:

33.95354100
Longitude:

-118.34835600

The Property

Property Type:

Residential Income
Subtype:

Apartment
Lot Features:

0-1 Unit/Acre
Lot Size Area:

10212.0000
Lot Size Acres:

0.2344
Lot Size SqFt:

10212.00
Lot Size Source:

Assessor
Property Attached:

1
Additional Parcels:

No
Land Lease:

No

Listing Agent

Contact info:

Taxes

Tax Census Tract:

4011.01
Tax Tract:

1234
Tax Lot:

1234

The Listing

Special Listing Conditions:

Standard
Parcel Number:

8649018033
Showings Begin:

2024-09-03

Heating & Cooling

Heating:

1
Heating:

Central

Utilities

Sewer:

Public Sewer
Water Source:

Public

The Community

Senior Community:

No
Features:

Urban
Pool:

None
Private Pool:

No

Parking

Parking Spaces:

4.00
Garage Spaces:

4.00

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Transit Score®

Provided by WalkScore® Inc.

Soundscore™

Provided by HowLoud

Sale history

Date	Event	Source	Price	% Change
10/1/24 Oct 1, 2024	Price Changed	CRMLS_CA	$2,550,000	-1.9%
9/3/24 Sep 3, 2024	Listed / Active	CRMLS_CA	$2,600,000

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This multifamily located in Inglewood, CA 90301 is currently for sale for $2,550,000. 816 Myrtle Avenue is a – square foot multifamily with – beds and – baths that has been on Estately for 61 days. This multifamily is in the attendance area of Crozier Middle School, Kelso Tk-6 Elementary School, and Morningside High School.

Listing Courtesy of: CRMLS_CA and Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of 23:58 on Nov 02.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.