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$ 3,249,000
Est. payment | /mo
17,516 SqFt
$ 3,249,000
Est. payment | /mo
17,516 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Pending
Purchase Type For Sale
Square Footage 17,516 sqft
Price per Sqft $185
MLS Listing ID CL25542885
HOA Y/N No
Year Built 1965
Lot Size 0.360 Acres
Acres 0.36
Property Sub-Type Comm Ind For Sale
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
Zoning LAR3
Interior
Fireplace No
Exterior
Total Parking Spaces 14
Building
New Construction No
Others
Tax ID 6074023052
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Listed by George Morales • Compass
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "