7509-7521 S Broadway, Los Angeles, CA 90003

7509-7521 S Broadway, Los Angeles, CA 90003

Los Angeles, CA
$2,926,000

Property Description

INVESTMENT HIGHLIGHTS

  • The property sits on a spacious lot measuring at over 19,000 SF and comprises of (1) 0 Bed/1 Bath, (4) 1 Bed/1 Bath, (4) 2 Bed/1 Bath, and (7) 3 Bed/1
  • Conveniently located in South Los Angeles, the property is surrounded by restaurants, shopping centers, and major metropolitan hubs
  • It offers a going-in cap rate of 6.09% and a GRM of 8.99, with 56% in rental upside

EXECUTIVE SUMMARY

7509–7521 S Broadway presents an opportunity to acquire a strong cash flowing asset in South Los Angeles, with achievable value add potential. Offered at just $195 per square foot and 8.99 GRM, the property provides an attractive cost basis for investors seeking both immediate cash flow and has the potential to convert the uncovered parking into multiple ADUs. With SB1211, a buyer can build up to (8) ADUs that can increase value tremendously. (Buyer to Verify feasibility of ADUs). Using conservative construction costs, building out (8) 2-Bed/1-Bath ADUs, the property can operate at a 6.61 GRM and 10.41% Cap Rate, while still achieving upside through unit turns and renovations. Situated along South Broadway, the property benefits from proximity to major transit routes, employment centers, and new development projects reshaping the surrounding neighborhood.

Property Features

  • Sale Price: $2,926,000
  • Area Size: 17,160 sqft
  • Land Area: 0.44 AC
  • Year Built: 1960
  • Units: 16

Lyon Stahl Investment Real Estate

Keep In Touch