818 Myrtle Avenue

Inglewood, CA 90301

$2,550,000
Price
5
Beds
—
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.

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,...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.
  1. Listed by Cameron Samimi • DRE #02035763 • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc. • 310-259-7556
  2. Listed by Michael Padilla • Brokerage DRE #01972083 • Lyon Stahl Investment Real Estate, Inc.

Property Details for 818 Myrtle Avenue

City Postal ID
INGLEWOOD (90301)
LISTING UPDATED: 01/23/2025 01:59 AM

Property Details for 818 Myrtle Avenue

StatusActive
MLS #SB25011648
Days on Market41
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS Type2-4 Units
Year Built-
Lot Size0.44 AC / 19,249 SF
CountyLos Angeles County

Building Information for 818 Myrtle Avenue

Stories2Residences-Year Built-Building Size-Lot Size0.44 AC / 19,249 SF

Property Information for 818 Myrtle Avenue

Summary Information
Property and Location
  • System ID: 306343834
  • Class: 2-4 UNITS
  • Street Number Numeric: 818
  • Street Name: Myrtle Avenue
  • Directions To Property: Off Prairie and Arbor Vitae
HOA and Fees
  • CFD/Mello-Roos Fee: $0
  • CFD/Mello-Roos Fee Reflct: Year
Supplement
  • Supplement: 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.
Interior and Exterior Features
Exterior Features
  • Pool: N/K
Property Information
Property and Assessments
  • Total Stories: 2
  • Entry Only: No
  • Lot Size Source: Assessor Record
  • Zoning: Assessor
  • Assessors Parcel Num: 4024005018
Multi Family Information
Unit 1
  • Unit Num for Unit 1: 1
  • Unit 1 Num of Bedrooms: 2
  • Unit 1 Num of Total Baths: 1
  • Unit 1 Rent Actual: $2,800
Unit 2
  • Unit Num for Unit 2: 2
  • Unit 2 Num of Bedrooms: 1
  • Unit 2 Num of Total Baths: 1
  • Unit 2 Rent Actual: $1,581
Unit 3
  • Unit Num for Unit 3: 3
  • Unit 3 Num of Bedrooms: 1
  • Unit 3 Num of Total Baths: 1
  • Unit 3 Rent Actual: $1,581
Unit 4
  • Unit Num for Unit 4: 4
  • Unit 4 Num of Bedrooms: 1
  • Unit 4 Num of Total Baths: 1
  • Unit 4 Rent Actual: $1,524

Property History for 818 Myrtle Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 818 Myrtle Avenue

This home is within Inglewood Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Charter - K to 5
Rating
School
Distance
Kelso (William H.) Elementary School
PublicK to 6

Crozier (George W.) Middle School
Public7 to 8

Morningside High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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818 Myrtle Avenue is a multi-family home for sale in Inglewood, CA 90301. This property was listed for sale on January 16, 2025 by Lyon Stahl Investment Real Estate, Inc., it's currently listed at $2,550,000. This listing's school district is Inglewood Unified School District. Nearby schools include Kelso (William H.) Elementary School, Crozier (George W.) Middle School and Morningside High School. 818 Myrtle Avenue is a 5-bed, 4-bath, multi-family home.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Lyon Stahl Investment Real Estate, Inc., Cameron Samimi, DRE #02035763; Lyon Stahl Investment Real Estate, Inc., Michael Padilla

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.