818 Myrtle Avenue, Property Listing: MLS® #SB25011648

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.

818 Myrtle Avenue, Property Listing: MLS® #SB25011648 Close
Page Summary
  • 619-987-4851
NEW
  • MLS® #: SB25011648
  • 818 Myrtle Avenue
  • , CA 90301
  • $2,550,000
  • 0.44 Acres
  • Office: Lyon Stahl Investment Real Estate, Inc.

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.

Supplemental Remarks

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Essential Information

  • MLS® #SB25011648
  • Listing Price$2,550,000
  • Original Listing Price$2,550,000
  • Date ListedJanuary 16th, 2025
  • Days on Market7
  • Bathrooms0.00
  • Acres0.44
  • Lot Sq.Ft.19,250
  • TypeResidential Income
  • StatusACTIVE

Dues

  • HOA Dues$0

Community Information

  • Address818 Myrtle Avenue
  • AreaINGLEWOOD (90301)
  • CountyLos Angeles
  • StateCA
  • Zip Code90301

Amenities

  • PoolN/K
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Listing information last updated on May 3rd, 2025 at 4:38pm PDT.