11109 S Broadway
Los Angeles, CA 90061
0.12 acres | #PW24170510
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).
Property Details
- Lot DescriptionBackYard, StreetLevel
- Stories2
Measurements
- Acres0.1246
Construction Details
- Property TypeMulti-Family
Condition
- Year Built1991
Utilities / Energy Details
- Sewer InformationPublicSewer
- Utility SourcePublic
Community and Neighborhood Details
- CountyLos Angeles
Financial Details
- Original List Price$1,050,000
Other
- MLS #PW24170510
Location
Legal
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Based on information from California Regional Multiple Listing Service, Inc. as of the most recent time synced and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jackson Jorgensen (#PWJORJAC)
Listing Office: Younglewin Advisors, Inc. (#PB20845)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
