$1,800,000 Price Analysis   ♡   Los Angeles, CA 90003 Unknown bed 13 bath 3,433 SqFt ($524/SqFt) 6,302SqFt lot. Built 1986 Listed 2024-02-11, Taxes $18,990 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
10424 S.
Broadway is an investment opportunity located in South Los Angeles, conveniently situated in the high rental demand pocket between Century Blvd and Main Street. The strong cashflow and high yield property is offered at an attractive 7.03% CAP rate and 8.7 GRM on actual income, with 100% occupancy in the building. An investor can capture significant additional upside with the permit to add 3 large ADU units on the property, that will b delivered RTI.
The ADU units are consisting of a two-bedroom/one-bathroom, a three-bedroom/one-bathroom and a three-bedroom/two bathroom unit, which could bring north of an additional $9, 400 per month once completed and rented. The 1986 built property does not fall within the city of Los Angeles rent control and comes with renovated units, a new roof that was recently installed and upgraded plumbing and electrical. The building has secured gated access with thirteen on-site parking spaces as well. The dense, infill location of South LA comes with an easy commute to Downtown Leimert Park and Mid-City with multiple Metro local lines and the Metro C rail line all nearby the property.
Presented by Sean Namigohar at
Marcus & Millichap.
Property MLS #24-357107 from TheMLSCLAW
Full Bathrooms: 13
Heating Features: Wall Electric
Garage Description: Carport
Parking Total: 13
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6302
Calculated Total Monthly Association Fees: 0
Number of Units: 13
Unit Features: 1 BedsTotal: 1, 1 BathsTotal: 1, 1 SquareFeet: 2100, 2 BathsTotal: 1, 2 SquareFeet: 1300
County: Los Angeles
Cap Rate: 7.03
Directions: Please contact listing agent for tours of the property.
Source Property Type: Residential Income
Area: Metropolitan South
Source Neighborhood: Metropolitan South
Parcel Number: 6074-003-036
Zoning: LAC2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $441,494 + $1,030,154 $1,471,648 | $18,990 |
| 2021 | $432,838 + $1,009,955 $1,442,793 | $18,277 |
| 2020 | $428,400 + $999,600 $1,428,000 | $19,561 |
| 2019 | $337,793 + $197,044 $534,837 | $8,656 |
| 2018 | $331,170 + $193,181 $524,351 | $8,476 |
| 2017 | $324,677 + $189,394 $514,071 | $8,287 |
| 2016 | $318,311 + $185,681 $503,992 | $7,411 |
| 2015 | $313,530 + $182,892 $496,422 | $7,926 |
| 2014 | $307,389 + $179,310 $486,699 | $7,910 |
| 2013 | $306,000 + $178,500 $484,500 | $8,338 |
| 2012 | $359,640 + $269,725 $629,365 | $9,882 |
| 2010 | $352,589 + $264,437 $617,026 | $9,674 |
| 2009 | $350,786 + $263,085 $613,871 | $9,248 |
| 2009 | $349,954 + $262,461 $612,415 | $9,248 |
| 2008 | $343,908 + $257,927 $601,835 | $8,805 |
| 2007 | $337,165 + $252,870 $590,035 | $8,456 |
$1,800,000
TheMLSCLAW
Listed 2024-02-11
$1,950,000
TheMLSCLAW
Sold 2019-05-17
$1,400,000
Public Record
Sold 2012-02-28
$475,000
Public Record
Sold 1987-11-05
$413,000
Public Record
Sold 1985-03-13
$50,000
Public Record
Year Built: 1986
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 38
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.