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Listed by Steven Bogoyevac, DRE #01332755 • Steven M. Bogoyevac, Broker
$ 1,299,000
Est. payment /mo
Price Dropped by $100K
9124 S Broadway Los Angeles, CA 90003
8,142 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26124229
Year Built 1941
Lot Size 8,142 Sqft
Source California Regional MLS
Property Description
9124 South Broadway is an eight-unit apartment building in South Los Angeles. This is an excellent acquisition opportunity for an investor looking for immediate upside potential: five units are ready for a new owner to lease at market rates. Furthermore, there may be potential to develop 8-10 ADUs, doubling the asset's unit count and majorly boosting cash flow potential (buyer to verify). 9124 South Broadway Avenue is a 1941 construction asset on a corner lot with ample surface parking. The two-story building features a mix of four two-bed/one-bath and four one-bed/one-bath units. The units are separately metered for gas and electricity; new meters were installed as part of a full property renovation in 2008. Since then, interiors have been upgraded as units turned. This asset is located one block east of the 110 Freeway in South Los Angeles. Convenient freeway and public transit proximity offers tenants easy access to Downtown Los Angeles, USC, and other attractions. The area is a dense rental submarket with consistent demand. Two blocks south of the subject property, a city-owned lot is the proposed site of a 180-unit mixed use project that would also include a full-sized grocery store.
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Interior
Laundry None
Exterior
Pool None
Building
Water District - Public
Others
Tax ID 6040036014
Special Listing Condition Not Applicable
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