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Residential Income - 9124 S Broadway, Los Angeles, CA

$1,299,000

9124 S Broadway, Los Angeles, CA

9124 S Broadway, Los Angeles, CA 90003 - $1,299,000 · Multi-Family Home for Sale, photo 1 9124 S Broadway, Los Angeles, CA 90003 - $1,299,000 · Multi-Family Home for Sale, photo 2 9124 S Broadway, Los Angeles, CA 90003 - $1,299,000 · Multi-Family Home for Sale, photo 3 9124 S Broadway, Los Angeles, CA 90003 - $1,299,000 · Multi-Family Home for Sale, photo 4 9124 S Broadway, Los Angeles, CA 90003 - $1,299,000 · Multi-Family Home for Sale, photo 5
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Description

9124 South Broadway is an eight-unit apartment building in South Los Angeles. This is an excellent acquisition opportunity for an investor looking for immediate upside potential: five units are ready for a new owner to lease at market rates. Furthermore, there may be potential to develop 8-10 ADUs, doubling the asset’s unit count and majorly boosting cash flow potential (buyer to verify). 9124 South Broadway Avenue is a 1941 construction asset on a corner lot with ample surface parking. The two-story building features a mix of four two-bed/one-bath and four one-bed/one-bath units. The units are separately metered for gas and electricity; new meters were installed as part of a full property renovation in 2008. Since then, interiors have been upgraded as units turned. This asset is located one block east of the 110 Freeway in South Los Angeles. Convenient freeway and public transit proximity offers tenants easy access to Downtown Los Angeles, USC, and other attractions. The area is a dense rental submarket with consistent demand. Two blocks south of the subject property, a city-owned lot is the proposed site of a 180-unit mixed use project that would also include a full-sized grocery store.

Property details

Year built
1941
Property type
Residential Income
Lot size
8,142 sqft

Location

9124 S Broadway • Los Angeles, CA 90003

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Listed by

Steven Bogoyevac · Steven M. Bogoyevac, Broker

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Closed sales reported in 90003, nearest first, last 12 months. All recent sales in Los Angeles →

Listing courtesy of Steven M. Bogoyevac, Broker. Information deemed reliable but not guaranteed.

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Nalren Corp. · CA DRE #02423715