Property Details
About this Property
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).
MLS Listing Information
MLS #
CRPW24170510
MLS Source
California Regional MLS
Interior Features
Laundry
None
Cooling
None
Exterior Features
Pool
None
Parking, School, and Other Information
Garage/Parking
Garage: 0 Car(s)
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | – | 4 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
11109 S Broadway is a Residential Income in Los Angeles, CA 90061. This – square foot property sits on a 5,426 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,100,000 and was built in 1991. This address can also be written as 11109 S Broadway, Los Angeles, CA 90061.
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This listing information is up-to-date as of October 31, 2024. For the most current information, please contact Jackson Jorgensen, (626) 399-2415
