11109 S Broadway, Los Angeles, CA 90061
Fourplex
Sold October 2024
Listing Agent: Jackson Jorgensen (DRE #02022727) · Listing Office: Younglewin Advisors, Inc. · Contact: jack@younglewin.com · Bought with: Brian Jung · BJ Realty · MLS #PW24170510 · Source: CRMLS
About this fourplex
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).
Listing description from the October 2024 sale, as reported to CRMLS.
Sale history