816 Myrtle Avenue, Inglewood, CA 90301

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 63% rental
upside by easily adding 3 ADUs.
Offered at $135/ft for land and just $236k a units.
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 5.53% cap rate and 11.90 GRM with 67% upside available
once the ADUs are built. Each unit is separately metered
for gas and electric.
The subject property is located only minutes away from
Sofi Stadium, YouTube Theater, Intuit Arena, LAX airport,
and many more developments.