Mixed-Use

4060-4064 South Broadway Place

4060-4064 South Broadway Place, Los Angeles, CA 90037

Listing Price: $3,200,000

Cap Rate
4.79%
Number of Units
24
Occupancy
96.00%
Price/Unit
$133,333
Price/Gross SF
$209.52
Gross SF
15,273

Investment Overview

Marcus & Millichap is pleased to offer for sale a 24-unit (20 unit +Two NC + Two Storefronts)* mixed-use community located at 4060 - 4064 South Broadway Place. Positioned just one and a half miles from the University of Southern California, three miles from the Staples Center and L.A. Live, the property is located on Broadway Place just south of Jefferson Boulevard and east of the 110 freeway. The offering represents a unique buying opportunity to acquire a mid-sized property with attractive in-place metrics.Built in 1922, the property is a three-story building consisting of 18 singles, four one-bedroom/one-bathroom units and two commercial storefront units. The diversity of this submarket is undeniable Latino, Asian, African-American, and students from nearby USC make their home in this varied neighborhood. From its musical roots to its paradigm-challenging riots, the neighborhood's history is just as rich.The subject property allows an investor to acquire a 24-unit (20 unit +Two NC + Two Storefronts)* building with in an in-fill location near Downtown Los Angeles, with additional upside potential. * Buyer to verify unit, bedroom and bathroom count.

Investment Highlights

  • VALUE-ADD OPPORTUNITY: 29 Percent Remaining Rental Upside Through Capital Improvements and Unit Renovations
  • CONVENIENTLY LOCATED NEAR THE 10 AND 110 FREEWAYS PROVIDING EASY ACCESS THROUGHOUT LOS ANGELES
  • ATTRACTIVE IN-PLACE METRICS: 4.79 PERCENT CAP RATE AND 10.85 GRM
  • A COMPELLING VALUE PROPOSITION: Affordable Rents Compared to the Neighboring Submarkets of Downtown Los Angeles and USC

Exclusively Listed By

Listing Price: $3,200,000

Cap Rate
4.79%
Number of Units
24
Occupancy
96.00%
Price/Unit
$133,333
Price/Gross SF
$209.52
Gross SF
15,273

Investment Highlights

  • VALUE-ADD OPPORTUNITY: 29 Percent Remaining Rental Upside Through Capital Improvements and Unit Renovations
  • CONVENIENTLY LOCATED NEAR THE 10 AND 110 FREEWAYS PROVIDING EASY ACCESS THROUGHOUT LOS ANGELES
  • ATTRACTIVE IN-PLACE METRICS: 4.79 PERCENT CAP RATE AND 10.85 GRM
  • A COMPELLING VALUE PROPOSITION: Affordable Rents Compared to the Neighboring Submarkets of Downtown Los Angeles and USC

Investment Overview

Marcus & Millichap is pleased to offer for sale a 24-unit (20 unit +Two NC + Two Storefronts)* mixed-use community located at 4060 - 4064 South Broadway Place. Positioned just one and a half miles from the University of Southern California, three miles from the Staples Center and L.A. Live, the property is located on Broadway Place just south of Jefferson Boulevard and east of the 110 freeway. The offering represents a unique buying opportunity to acquire a mid-sized property with attractive in-place metrics.Built in 1922, the property is a three-story building consisting of 18 singles, four one-bedroom/one-bathroom units and two commercial storefront units. The diversity of this submarket is undeniable Latino, Asian, African-American, and students from nearby USC make their home in this varied neighborhood. From its musical roots to its paradigm-challenging riots, the neighborhood's history is just as rich.The subject property allows an investor to acquire a 24-unit (20 unit +Two NC + Two Storefronts)* building with in an in-fill location near Downtown Los Angeles, with additional upside potential. * Buyer to verify unit, bedroom and bathroom count.

Exclusively Listed By

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