Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Type

SingleFamilyResidence

Bedrooms

8

Building size

5,144 sqft

Lot size

8,142 sqft

Year built

1941

Stories

2

Garage spaces

0

Pool

None

Status

Active

Days on market

24

MLS #

243340403

About this property

9124 South Broadway is an eight-unit apartment building in South Los Angeles. This is an excellent acquisition opportunity for an investor looking for immediate upside potential: five units are ready for a new owner to lease at market rates. Furthermore, there may be potential to develop 8-10 ADUs, doubling the asset’s unit count and majorly boosting cash flow potential (buyer to verify). 9124 South Broadway Avenue is a 1941 construction asset on a corner lot with ample surface parking. The two-story building features a mix of four two-bed/one-bath and four one-bed/one-bath units. The units are separately metered for gas and electricity; new meters were installed as part of a full property renovation in 2008. Since then, interiors have been upgraded as units turned. This asset is located one block east of the 110 Freeway in South Los Angeles. Convenient freeway and public transit proximity offers tenants easy access to Downtown Los Angeles, USC, and other attractions. The area is a dense rental submarket with consistent demand. Two blocks south of the subject property, a city-owned lot is the proposed site of a 180-unit mixed use project that would also include a full-sized grocery store.

Location

9124 S Broadway

Los Angeles, Los Angeles, CA, 90003