6.10% Cap Rate and 11.06 GRM on massive 19,250 sqft lotzoned R3 with current in place cash flow. A new buyer candevelop 18 units by right or 27 units with 50% densitybonus allowed through the city. Perfect asset to land bankfor future development while achieving great in placecash flow. Property can achieve 60% rental upside byeasily adding 3 ADUs.Offered at $132/ft for land and just $231k/unit. Incrediblevalue here for any investor.816 Myrtle is just two blocks away from So-Fi Stadium, TheForum & NEW Intuit Dome! 11 bungalow style units situatedon a 19,250 sqft lot! The property is currently operating ata 6.10% cap rate and 11.06 GRM with 60% upside availableonce the ADUs are built. Each unit is separately meteredfor gas and electric.T he subject property is located only minutes away fromSofi Stadium, YouTube Theater, Intuit Arena, LAX airport,and many more developments. OM in supplements.
|
DAYS ON MARKET
|
1
|
LAST UPDATED
|
1/16/2025
|
|
YEAR BUILT
|
1937
|
COMMUNITY
|
Not Defined
|
|
GARAGE SPACES
|
4.0
|
COUNTY
|
Los Angeles
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
| AREA |
Not Defined |
| GARAGE |
Yes |
| LOT |
0.44 acre(s) |
| LOT DESCRIPTION |
0-1 Unit/Acre |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
2 |
| WATER |
Public |
We respect your online privacy and will never spam you. By submitting this form with your telephone number
you are consenting for Ben
Salem to contact you even if your name is on a Federal or State
"Do not call List".
Listed with Lyon Stahl Investment Real Estate, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 1/17/25 5:35 AM PST 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. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
Save favorite listings, searches, and get the latest alerts
Save your favorite listings, searches, and receive the latest listing alerts
Twitter
Facebook
Email
