Thank you
Sean Namigohar
Marcus & Millichap
310-909-5500
10424 S. Broadway is an 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 7.03% CAP rate and 8.7 GRM on actual income, with 100% occupancy in the building. An investor can capture significant additional upside with the permit to add 3 large ADU units on the property, that will be delivered RTI. 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 $9,400 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 thirteen 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.
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Total Baths: 13
Full Baths: 0
Half Baths: 0
Year Built: 1986
Building Area Total: 3,433
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1447
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6302
Original List Price: 1,950,000
Listing Contract Date: 2024-02-02
Listing Agreement: Seller Reserved
Parcel Number: 6074003036
Garage Description: Carport
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C37 - Metropolitan South
Directions: Please contact listing agent for tours of the property.
Zoning: LAC2
Source Property Type: Residential Income
Area: C37 - Metropolitan South
Property Age: 38
Year Built Source: Vendor Enhanced
Total Square Feet Living: 3433
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
345 E 82nd Street, Los Angeles, CA,90003 | $905,000 | -- | -- | 1,529 | 5220 Sqft |
413 E 95th Street, Los Angeles, CA,90003 | $615,000 | 3 | 2 | 1,378 | 6130 Sqft |
8755 S San Pedro Street, Los Angeles, CA,90003 | $599,999 | 3 | 2 | 1,898 | 2519 Sqft |
134 W 60th Street, Los Angeles, CA,90003 | $545,000 | 4 | 3 | 1,629 | 5120 Sqft |
436 68th Street, Los Angeles, CA,90003 | $750,000 | 5 | 2 | 1,512 | 4560 Sqft |
217 E 77th Street, Los Angeles, CA,90003 | $985,000 | 5 | 3 | 2,283 | 5099 Sqft |
429 W 68th Street #431, Los Angeles, CA,90003 | $39,995 | -- | -- | -- | 376 Acres |
10004 S San Pedro Street, Los Angeles, CA,90003 | $550,000 | 2 | 1 | 924 | 4069 Sqft |
112 W 91st Street, Los Angeles, CA,90003 | $980,000 | 10 | 6 | 3,268 | 5000 Sqft |
424 E 61st Street, Los Angeles, CA,90003 | $599,999 | 4 | 2.5 | 2,136 | 5400 Sqft |
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ByOwner last updated this listing 05/20/2024 @ 09:27
MLS: 24357107
LISTED BY: Sean Namigohar, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2.25%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.