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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Last Updated: . Source: CRMLS
Listing Courtesy
Listing Agent: Jackson Jorgensen (#PWJORJAC)
Listing Office: Younglewin Advisors, Inc. (#PB20845)
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