11109 S Broadway Los Angeles, CA 90061
We are pleased to present 11109 S Broadway to market, a 4 unit non-rent controlled property in South Los Angeles. The property consists of all 2 bed/1 bath units and was built in 1991 - making it not subject to Los Angeles RSO. A new buyer can benefit from much higher rent increases over time under the state AB-1482 law (currently 8.8%). Rents are currently about 18% below market allowing a new investor a healthy amount of upside over time simply doing annual rent increases. Current cash flow is excellent - at a current 6.02% cap rate and 10.77 GRM. Tenants pay for electricity, gas, and trash - reducing annual expenses greatly compared to other similar buildings. The building sits on a large 5, 426 square foot lot which currently allows for ample parking for all the tenants. A detached ADU could be built behind the property allowing for substantially more upside in the property value and income (buyer to verify).
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyLos Angeles
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site48 Days
- MLS StatusActive Under Contract
- MLS ID NumberPW24170510
- Home Size Source N/A
- Year Built1991
- Lot Size0.1246 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Parking Spaces 0
- Sewer Public Sewer
- Number of Stories 2
- Acreage 0.1246
- Water Public
- Property Sub Type Quadruplex
- Garage Spaces 0
- Zoning LAR3
- Listing Conditions Standard
Interior Features
- Cooling None
- Fireplace Features None
- Laundry Features None
- Fireplace No
Exterior Features
- Pool Features None
- Lot Back YardLevel with Street
Community Features
- Community Features Urban
- Senior Community No
- MLS Area C37 - Metropolitan South