7509-7521 S Broadway - Apartments FOR SALE


Los Angeles, CA 90003- Canndu/Avalon Gardens
$2,926,000 USD
310-729-1559
7509-7521 S Broadway, Los Angeles, CA for Sale
$2,926,000 USD
Apartments - FOR SALE
1/16
null | 6.09% Cap Rate

7509-7521 S Broadway
Los Angeles, CA 90003
Canndu/Avalon Gardens


HIGHLIGHTS

  • The property sits on a spacious lot measuring at over 19,000 SF and comprises of (1) 0 Bed/1 Bath, (4) 1 Bed/1 Bath, (4) 2 Bed/1 Bath, and (7) 3 Bed/1
  • It offers a going-in cap rate of 6.09% and a GRM of 8.99, with 56% in rental upside
  • Conveniently located in South Los Angeles, the property is surrounded by restaurants, shopping centers, and major metropolitan hubs

OVERVIEW

7509–7521 S Broadway presents an opportunity to acquire a strong cash flowing asset in South Los Angeles, with achievable value add potential. Offered at just $195 per square foot and 8.99 GRM, the property provides an attractive cost basis for investors seeking both immediate cash flow and has the potential to convert the uncovered parking into multiple ADUs. With SB1211, a buyer can build up to (8) ADUs that can increase value tremendously. (Buyer to Verify feasibility of ADUs). Using conservative construction costs, building out (8) 2-Bed/1-Bath ADUs, the property can operate at a 6.61 GRM and 10.41% Cap Rate, while still achieving upside through unit turns and renovations. Situated along South Broadway, the property benefits from proximity to major transit routes, employment centers, and new development projects reshaping the surrounding neighborhood.

FOR SALE DETAILS

PRICE

$2,926,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

16

PRICE/UNIT

$182,875

CAP RATE

6.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,008 SF

ZONING

C2, Los Angeles

APN/PARCEL ID

6031-010-030

ASK ABOUT THIS PROPERTY

Aaron JacobsonLyon Stahl Investment Real EstateMore Info
310-729-1559

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Aaron JacobsonLyon Stahl Investment Real EstateMore Info
310-729-1559

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