Property listed by Kidder Mathews of California, Inc., Darin Spillman 310-312-1800
$2,200,000
16-unit multifamily property located just four blocks from Exposition Park and a half-mile from the University of Southern California (USC). The unit mix consists of eight 2-bedroom / 1-bath and eight 1-bedroom / 1-bath apartments, many featuring hardwood floors and individual water heaters. Extensive capital improvements have been completed, including:… Read More * 100% copper plumbing * ABS drain lines * Romex electrical wiring and panel upgrades * New roof (2018) * Newer stucco and dual-pane windows. Positioned in one of Los Angeles' most dynamic infill locations, the property is located a few blocks from Exposition Park, the Coliseum, USC Village, and Downtown Los Angeles employment centers. The surrounding neighborhood offers strong rental demand from both students and workforce tenants. Located within a Qualified Opportunity Zone, 3806 S. Broadway also presents potential long-term tax advantages for investors holding the property for 7 to 10 years. Offered at a 6.6% cap rate and 8.4x gross, the asset represents an opportunity to acquire a stabilized, extensively renovated apartment building with strong upside potential in a high-density, supply-constrained Los Angeles submarket. Read Less
Listing Snapshot
Days Online
14
Last Updated
Property Type
Other
Beds
24
Square Ft.
9,616
Lot Size
0.19 Acres
Year Built
1916
MLS Number
25610569
30 Days Snapshot Of 90037
$645k
-17%
(avg) sold price
4
+33%
homes sold
107
+48%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1916, Building area total: 9,616, Levels: One, Living area: 9616, 1 story, 1 building
Cooling
None
Heating
WallFurnace
Income
Gross income: $261,612, Net operating income: $145,450
Lot
0.1895 acres, 8,255 square feet, Size: 8,255
Parking
8 totals parking, Uncovered
Property
Zoning: LAM1
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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