11109 S Broadway

Los Angeles,CA 90061

$ 1050000

- Bed

- Bath

3024 SqFt


Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,024 sqft

Price per Sqft $347

MLS Listing ID PW24170510

HOA Y/N No

Year Built 1991

Lot Size 5,427 Sqft

Property Description

We are pleased to present 11109 S Broadway to market, a 4 unit non-rent controlled property in South Los Angeles. The property consists of all 2 bed/1 bath units and was built in 1991 - making it not subject to Los Angeles RSO. A new buyer can benefit from much higher rent increases over time under the state AB-1482 law (currently 8.8%). Rents are currently about 18% below market allowing a new investor a healthy amount of upside over time simply doing annual rent increases. Current cash flow is excellent - at a current 6.02% cap rate and 10.77 GRM. Tenants pay for electricity, gas, and trash - reducing annual expenses greatly compared to other similar buildings. The building sits on a large 5,426 square foot lot which currently allows for ample parking for all the tenants. A detached ADU could be built behind the property allowing for substantially more upside in the property value and income (buyer to verify).

Location

State CA

County Los Angeles

Area C37 - Metropolitan South

Zoning LAR3

Rooms

Ensuite Laundry None

Interior

Laundry Location None

Cooling None

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Pool None

Community Features Urban

Private Pool No

Building

Lot Description Back Yard,Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Senior Community No

Tax ID 6074019022

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

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