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1818 N Broadway

Los Angeles (City), CA 90031
  • $1,950,000
  • STATUS: Active Under Contract
  • ON SITE: 106 Days
  • ID#: 24364065
Under Contract
UPDATED: 142 min ago
$1,950,000
  • 15
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,142
    SQFT
  • $471
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1897
County:

School Ratings & Info

Listing Agent(s): David Weinberger of Keller Williams Studio City (818-432-1500) and Megan Husri of Keller Williams Studio City(818-432-1500)


Description

OVERBID OPPORTUNITY - FIRST OVERBID AMOUNT $1,400,000. REGISTER BY JUNE 19! 6 Units and commercial retail unit Delivered Vacant! 1818 N Broadway presents an exceptional opportunity for investors in Lincoln Heights. This well-maintained two-story apartment building, steeped in history with its construction dating back to 1897, spans 4,142 square feet and comprises 18 residential units alongside a retail space, all set on a generous 7,412-square-foot lot, complete with 14 parking spaces. Designed to cater to a diverse range of tenants, the unit mix includes (15) Bachelors ( 2) 1-bedroom + 1-bathroom units, (1) Studio, and a commercial unit, ensuring broad appeal to prospective tenants. With 6 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property's appeal. Strategically located in vibrant Lincoln Heights, a historic neighborhood known for its diverse community, rich cultural heritage, and architectural landmarks. Situated northeast of Downtown LA, Lincoln Heights offers a blend of residential charm, bustling commercial areas, and easy access to transportation hubs. Residents have convenient access to several nearby employment centers in Los Angeles. These include Downtown LA, which is just a short distance away and offers diverse employment opportunities in finance, technology, hospitality, and more. The nearby Arts District is known for its creative industries, including art galleries, studios, and tech startups. * 323 N. Soto St. can be purchased with 2221 Michigan Ave. & 1818 N. Broadway as a portfolio.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T15:29:25.91. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/148210035
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1818 N Broadway Los Angeles (City), CA 90031

  • Price: $1,950,000
  • Status: Active Under Contract
  • On Site: 106 Days
  • Updated: 142 min ago
  • ID#: 24364065
15
Beds
0
Baths
0
½ Baths
0.17
Acres
4,142
SQFT
$471
$/SQFT
1897
Built
Neighborhood:
677 - Lincoln Hts
County:
Los Angeles
Area:
677 - Lincoln Hts
Property Description
OVERBID OPPORTUNITY - FIRST OVERBID AMOUNT $1,400,000. REGISTER BY JUNE 19! 6 Units and commercial retail unit Delivered Vacant! 1818 N Broadway presents an exceptional opportunity for investors in Lincoln Heights. This well-maintained two-story apartment building, steeped in history with its construction dating back to 1897, spans 4,142 square feet and comprises 18 residential units alongside a retail space, all set on a generous 7,412-square-foot lot, complete with 14 parking spaces. Designed to cater to a diverse range of tenants, the unit mix includes (15) Bachelors ( 2) 1-bedroom + 1-bathroom units, (1) Studio, and a commercial unit, ensuring broad appeal to prospective tenants. With 6 vacancies currently available, you can seize the opportunity to implement a value-add strategy and elevate the property to its full potential. By undertaking targeted renovations of individual units and common areas, you can position the asset to command premium market rental rates, offering flexibility for short-term and long-term tenancy arrangements. Participation in programs like the Section 8 Housing initiative through entities such as HACLA or PATH further enhances the property's appeal. Strategically located in vibrant Lincoln Heights, a historic neighborhood known for its diverse community, rich cultural heritage, and architectural landmarks. Situated northeast of Downtown LA, Lincoln Heights offers a blend of residential charm, bustling commercial areas, and easy access to transportation hubs. Residents have convenient access to several nearby employment centers in Los Angeles. These include Downtown LA, which is just a short distance away and offers diverse employment opportunities in finance, technology, hospitality, and more. The nearby Arts District is known for its creative industries, including art galleries, studios, and tech startups. * 323 N. Soto St. can be purchased with 2221 Michigan Ave. & 1818 N. Broadway as a portfolio.
Exterior Features

Parking Features AssignedUncovered Parking Total 14

Interior Features

Cooling Wall/Window Unit(s) Cooling YN Yes

Property Features

Association YN No Cap Rate 6.4 Gross Income 218625 Levels Two Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 124046 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 6 Zoning LAUV(CA)



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-16T15:29:25.91. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372463866-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372463866-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372463866-2.jpg
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Mainstreet Realtors®
8577 Haven Ave, Suite 100
Rancho Cucamonga CA, 91730
Listing Agent(s): David Weinberger of Keller Williams Studio City (818-432-1500) and Megan Husri of Keller Williams Studio City(818-432-1500)