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Multifamily

Broadway Studios

10424 S Broadway, Los Angeles, CA 90003

Listing Price: $1,950,000

Cap Rate
7.03%
Number of Units
13
GRM
8.74
Occupancy
100.0%
Price/Unit
$150,000

Investment Overview

Marcus and Millichap is proud to present 10424 S. Broadway, an apartment 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 nine 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.

Investment Highlights

  • Offered with strong in-place cashflow at a 7.03% CAP Rate and 8.7 GRM
  • The 1986 construction does not fall within the city of Los Angeles rent control
  • Secured gated access with thirteen on-site parking spaces

Exclusively Listed By

Financing By

Multifamily

Broadway Studios

Listing Price: $1,950,000

Cap Rate
7.03%
Number of Units
13
GRM
8.74
Occupancy
100.0%
Price/Unit
$150,000

Investment Highlights

  • Offered with strong in-place cashflow at a 7.03% CAP Rate and 8.7 GRM
  • The 1986 construction does not fall within the city of Los Angeles rent control
  • Secured gated access with thirteen on-site parking spaces

Investment Overview

Marcus and Millichap is proud to present 10424 S. Broadway, an apartment 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 nine 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.

Exclusively Listed By

Financing By

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