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Image 1 - 11109 S Broadway, Los Angeles, California, 90061 - House for sale

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S Broadway, Los Angeles, Home For Sale

11109 S Broadway, Los Angeles, California, 90061

S Broadway, Los Angeles, Home For Sale

house for sale

Listed: 08/19/24

11109 S Broadway, Los Angeles, California, 90061

8 Bed:

4 Bath:

3,024 Sq Ft Living Area:

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Price

$ 1,05M

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About This House

We are pleased to present11109 SBroadway 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 in1991 -making it not subject to Los AngelesRSO. Anew buyer can benefit from much higher rent increases over time under the stateAB-1482law (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 and10.77 GRM.Tenants pay for electricity, gas, and trash - reducing annual expenses greatly compared to other similar buildings. The building sits on a large5, 426square 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).

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Broadway-Manchester Housing & Living

Household Income

Median household income: $62,474

Number of households: 1,4M

The average household income in Los Angeles, CA grew from $60,197 to $62,474 in the past year. This data is an estimate based upon 1,4M households in Los Angeles, CA.
The chart below presents how household income is distributed in Los Angeles, CA in comparison to the revenue allocation amid households nationally.

Property Taxes

Average range: $3k+

One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Los Angeles, CA compared to median property taxes around the country. The prevalent amount of property taxes in Los Angeles, CA equals $3k+ , which is more than the national average.

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