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$ 2,926,000
Est. payment /mo
Active
7511 S Broadway Los Angeles, CA 90003
6 Beds
4 Baths
0.44 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26002050
Bedrooms 6
Lot Size 0.436 Acres
Property Sub-Type Res Income 2-4 Units
Property Description
75097521 S Broadway presents an opportunity to acquire a strong cash flowing asset in South Los Angeles, with achievable value add potential. Offered at just $195 per square foot and 8.99 GRM, the property provides an attractive cost basis for investors seeking both immediate cash flow and has the potential to convert the uncovered parking into multiple ADUs. With SB1211, a buyer can build up to (8) ADUs that can increase value tremendously. (Buyer to Verify feasibility of ADUs). Using conservative construction costs, building out (8) 2-Bed/1-Bath ADUs, the property can operate at a 6.61 GRM and 10.41% Cap Rate, while still achieving upside through unit turns and renovations. Situated along South Broadway, the property benefits from proximity to major transit routes, employment centers, and new development projects reshaping the surrounding neighborhood.
Location
State CA
County Los Angeles
Zoning Assessor
Direction East of Vermont Ave and West of Figueroa St
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 6031010030
Acceptable Financing Cash, Conventional, Land Contract
Listing Terms Cash, Conventional, Land Contract
Listed by Aaron Jacobson Lyon Stahl Investment Real Estate, Inc.