1909 N BROADWAY - Apartments FOR SALE


Los Angeles, CA 90031- Taylor Junction
$2,300,000 USD
818-212-2692
1909 N BROADWAY, Los Angeles, CA for Sale
$2,300,000 USD
Apartments - FOR SALE
1/12
null | 4.76% Cap Rate

1909 N BROADWAY
Los Angeles, CA 90031
Taylor Junction


HIGHLIGHTS

  • Value-add opportunity with 34% rental upside
  • First time on market in more than 47 years
  • Prime Lincoln Heights neighborhood
  • Proximity to Downtown Los Angeles, Chinatown, the Arts District, and Dodger Stadium
  • Walk Score: 89

OVERVIEW

Marcus & Millichap is pleased to present 1909 N Broadway, a two-story, 16-unit apartment community located in the heart of Lincoln Heights. Offered for sale for the first time in 47 years, the property presents an opportunity for investors to capture rental upside as units turn over. Built in 1915, the unit mix consists of (2) bachelors, (6) studios, (4) one-bedroom/one-bath units, and (4) one-bedroom/two-bath units. The building spans approximately 7,607 square feet of living space on an 8,208 square foot lot. The property is master-metered for water, gas, and electricity and includes three recently replaced 40-gallon water heaters. Additional features include gated entry, a shared restroom on each floor currently utilized for storage, and no on-site parking. Situated along N. Broadway just west of the 5 Freeway, the property benefits from a strong walk score of 89 and close proximity to local markets, neighborhood dining, and Chavez Ravine, home of Dodger Stadium. Downtown Los Angeles, Chinatown, the Arts District, Boyle Heights, and surrounding neighborhoods are only minutes away, with convenient access to both the 110 and 5 Freeways providing connectivity throughout Greater Los Angeles.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$319 USD /SF

# OF UNITS

16

PRICE/UNIT

$143,750

CAP RATE

4.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,146 SF

ZONING

LAUV(CA)

APN/PARCEL ID

5447-022-004

ASK ABOUT THIS PROPERTY

Shara ParseghianMarcus & MillichapMore Info
818-212-2692

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Shara ParseghianMarcus & MillichapMore Info
818-212-2692

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