20
See all 20 photos
$2,200,000
Est. payment /mo
24 Beds
16 Baths
9,616 SqFt
Pending
3806 S Broadway Los Angeles, CA 90037
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Key Details
Property Type Single Family Home
Listing Status Pending
Purchase Type For Sale
Square Footage 9,616 sqft
Price per Sqft $228
MLS Listing ID 25610569
Bedrooms 24
HOA Y/N No
Year Built 1916
Property Description
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: * 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.
Location
State CA
County Los Angeles
Area C42 - Downtown L.A.
Zoning LAM1
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Parking Features Uncovered
Total Parking Spaces 8
Building
Story 2
Entry Level One
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 5122039020
Special Listing Condition Standard
Listed by Darin Spillman Kidder Mathews of California, Inc.
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