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$ 2,450,000
$ 2,550,000 3.9%
Est. payment /mo
Sold on 05/30/2025
818 Myrtle AVE #1 Inglewood, CA 90301
0.44 Acres Lot
UPDATED:
Key Details
Sold Price $2,450,000
Property Type Residential Income
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID SB25011648
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.
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
Laundry Washer Hookup, Gas Dryer Hookup
Exterior
Garage Spaces 4.0
Garage Description 4.0
Pool None
Community Features Urban
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange
Special Listing Condition Standard

Listed by Cameron Samimi Lyon Stahl Investment Real Estate, Inc. 310-259-7556
Bought with Cameron Samimi Lyon Stahl Investment Real Estate, Inc.
Bought with Cameron Samimi Lyon Stahl Investment Real Estate, Inc.