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$3,249,000
Est. payment /mo
0.36 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 25542885
HOA Y/N No
Year Built 1965
Lot Size 0.360 Acres
Property Sub-Type Mixed Use
Property Description
Attention Investors: 11204 S. Broadway is a value-add 23-unit multifamily asset located in the heart of South Los Angeles just minutes from the 110 Freeway and key redevelopment zones. This 17,516 SF building sits on a generous 15,702SF lot with gated access and 14 on-site parking spaces. The current rents are significantly below market, presenting investors with approximately 20%+ upside potential through strategic renovations and leasing. The Seller is leaving 3 Units vacant so that the new ownership can touch them up and rent them for a higher NOI/GOI. The current GRM is 11.5, including the 3 vacancies. Without the 3 vacant units the GRM would be at 9.2 *** With 20% UPSIDE THE PROJECTED GOI IS $423,321 AND GRM IS 7.6
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Zoning LAR3
Interior
Fireplace No
Exterior
Total Parking Spaces 14
Building
Story 2
Others
Tax ID 6074023052
Special Listing Condition Standard
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Listed by George Morales • Compass