11109 S Broadway, Los Angeles, CA 90061

Property Description

We are pleased to present 11109 S Broadway 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 in 1991 - making it not subject to Los Angeles RSO. A new buyer can benefit from much higher rent increases over time under the state AB-1482 law (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 and 10.77 GRM. Tenants pay for electricity, gas, and trash - reducing annual expenses greatly compared to other similar buildings. The building sits on a large 5,426 square 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).