10424 S Broadway - Apartments FOR SALE


Los Angeles, CA 90003- Canndu/Avalon Gardens
$1,600,000 USD
310-279-7779
10424 S Broadway, Los Angeles, CA for Sale
$1,600,000 USD
Apartments - FOR SALE
1/10
null | 7.39% Cap Rate

10424 S Broadway
Los Angeles, CA 90003
Canndu/Avalon Gardens


OVERVIEW

Sean Nami is proud to present 10424 S. Broadway, an apartment investment opportunity located in South Los Angeles, conveniently situated in the high rental demand pocket between Century Blvd and Main Street. The strong cashflow and high yield property is offered at an attractive 7.39% CAP rate and 7.65 GRM on actual income, with 100% occupancy in the building. An investor can capture significant additional upside with the RTI plans to add 3 large ADU units on the property. The ADU units are consisting of a two-bedroom/one-bathroom, a three-bedroom/one bathroom, and a three-bedroom/two bathroom unit, which could bring north of an additional $7,650 per month once completed and rented. The 1986 built property does not fall within the city of Los Angeles rent control, and comes with renovated units, a new roof that was recently installed, and upgraded plumbing and electrical. The building has secured gated access with 13 on-site parking spaces as well. The dense, infill location of South LA comes with an easy commute to Downtown Leimert Park and Mid-City with multiple Metro local lines and the Metro C rail line all nearby the property.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$466 USD /SF

# OF UNITS

13

PRICE/UNIT

$123,077

CAP RATE

7.39%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Broadway Studios

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,299 SF

ZONING

LAC2

APN/PARCEL ID

6074-003-036

ASK ABOUT THIS PROPERTY

Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

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Sean NamiLyon Stahl Investment Real EstateMore Info
310-279-7779

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.