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.
Property Details
Property Features
Property Information:
Year Built: 1956
Stories: 1
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 259-7556
Listing Agent: Cameron Samimi
Exterior Features
Exterior Information:
Private Pool: No
Parking Information:
Garage Space: 4 spaces
Lot Features
Lot Information:
Lot Size: 0.23 Acres
Utilities
Utilities Information:
Heating: Central
Other
Directions Information:
Directions: Off of Arbor Vitae and Prairie Ave
Price Information
Listing Price Info
Price Summary:
List Price: $2,550,000
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Housing Market Comparison
See how this home compares to others in Inglewood, CA.
This property is $1.8M more than the Median Sold Price in Inglewood, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: CRMLS
MLS Number: #SB24178799
Listing Office:
Office Name: Lyon Stahl Investment Real Estate, Inc.
Office Phone: (310) 259-7556
Listing Agent: Cameron Samimi
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) 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. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 12/18/2024, 9:20:59 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
We're sorry, we currently don't have sales or tax history data for this listing.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
We're sorry, we currently don't have assigned school data for this listing.
Nearby Schools
3
/10
Kelso Elementary School
809 E Kelso St
Distance between this listing and this school0.32 miles
Public District Grades KG-6
6
/10
Icef Inglewood Elementary Charter Academy
434 S Grevillea Ave
Distance between this listing and this school0.49 miles
Public Charter Grades KG-5
3
/10
Beulah Payne Elementary School
215 W 94th St
Distance between this listing and this school0.54 miles
Public District Grades KG-6
Nearby Schools
6
/10
Century Community Charter
901 Maple St
Distance between this listing and this school0.32 miles
Public Charter Grades 6-8
3
/10
Crozier Elementary School
1210 W Regent St
Distance between this listing and this school0.85 miles
Public District Grades 7-8
3
/10
Grace Hopper STEM Academy
601 Grace Ave
Distance between this listing and this school1.10 miles
Public Charter Grades 6-8
Nearby Schools
2
/10
Inglewood High School
231 S Grevillea Ave
Distance between this listing and this school0.65 miles
Public District Grades 9-12
7
/10
City Honors International Preparatory High School
120 W Regent St
Distance between this listing and this school0.85 miles
Public Charter Grades 9-12
2
/10
Inglewood Continuation High School
441 W Hillcrest Blvd
Distance between this listing and this school0.87 miles
The neighbors living near this home have an average income of $40,460. The most common annual income of people living in Inglewood, CA is less than $35k. Typical family type is single, no kids. The majority of residents in this area have post secondary degree education.
All data provided by Home Junction and Claritas
Frequently Asked Questions About 816 Myrtle Ave
What is the listing price of this property?
The listing price of 816 Myrtle Ave property is $2,550,000.
What type of property is this?
The property 816 Myrtle Ave is a condo located in Inglewood, California, 90301.
Is this property for sale now?
Active Listing: 816 Myrtle Ave is For Sale (Active/New) which means the seller is accepting offers.
Which year was this property built?
The year of construction for 816 Myrtle Ave is 1956.
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This home is located at 816 Myrtle Ave in Inglewood, CA and zip code 90301 in the South Bay neighborhood. This home, which was built in 1956, sits on a 0.23 acre lot. It has been listed on Rocket Homes since September 03, 2024 and is currently priced at $2,550,000.
In November 2024 more than 13 listings in Inglewood, CA were sold above the asking price. During the same period more than 3 listings were sold at asking price, while more than 18 were sold below. The number of homes for sale in Inglewood, CA decreased by 3.2% between October 2024 and November 2024. In November 2024 median list price was $745,000 and the average listing age was 58 days.
From Rocket Homes Real Estate and based on county public records data.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. 
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