$ 1,050,000
11109 S Broadway Los Angeles, CA 90061
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In-PersonVirtual Tour
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,050,000
Est. payment /mo
Active Under Contract
11109 S Broadway Los Angeles, CA 90061
3,024 SqFt
UPDATED:
10/25/2024 04:55 PM
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
Acres 0.1246
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
Listed by Jackson Jorgensen • Younglewin Advisors, Inc. • jack@younglewin.com