818 Myrtle Avenue 1, Inglewood, CA 90301

About this property

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.

Listing description from the May 2025 sale, as reported to CRMLS.

Sale history

$2,450,000

Sold May 2025 · listed $2,550,000, on market January 2025 · MLS #SB25011648 · Source: CRMLS

Listing Agent: Cameron Samimi · Listing Office: Lyon Stahl Investment Real Estate, Inc. · Contact: 310-259-7556 · Bought with: Cameron Samimi · Lyon Stahl Investment Real Estate, Inc.

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