Property Detail

Description

Nestled in a tranquil residential pocket just moments from the vibrant energy of the new SoFi Stadium, this property presents a compelling investment opportunity within Inglewood's flourishing and fast-growing urban landscape. Enjoy the convenience of being within walking distance to La Brea Avenue's bustling corridor, Market Street's eclectic mix of shops and eateries, and the emerging downtown Inglewood scene -- all contributing to a dynamic, walkable neighborhood on the rise. The existing property features generously sized residences that offer not only long-term comfort but also significant upside potential. With established tenants and rents currently below market rate, savvy investors can benefit from a reliable income stream while positioning themselves to take full advantage of future rent growth, property appreciation, and increasing demand fueled by Inglewood's ongoing transformation. A standout feature of this offering is the existing carport and storage structure, which already has plans in place for the development of a detached 2-bedroom, 2-bathroom Accessory Dwelling Unit (ADU). This addition presents a unique opportunity to further enhance rental income and long-term property value. Ample parking will still remain on the lot, preserving convenience for current and future tenants. Originally built as a single-family residence (4 bedrooms, 2 baths, 1,617 sq. ft.), the property was expanded in 1986 with permits retaining the original home and adding five additional units: one 3-bedroom/2-bath, one 2-bedroom/2-bath, and three 2-bedroom/1-bath units. Although the property has a leasing history of 7 units, the Certificate of Occupancy currently reflects approval for 6 units, indicating untapped potential for optimization and compliance. For the forward-thinking investor, this represents a strategic entry point into a market that continues to break new ground. Inglewood is rapidly becoming one of Southern California's most desirable investment markets, buoyed by the development of the Intuit Dome, Hollywood Park, the Kia Forum, and ongoing city-wide revitalization projects. With easy access to major freeways, including the I-405, I-105, and I-110, as well as proximity to LAX, this location offers unmatched regional connectivity for residents and tenants alike. 614 Myrtle Ave is more than just an income property, it's a gateway to the future of Inglewood. Don't miss your chance to secure a stake in one of LA's most exciting and promising neighborhoods.