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9905 S Broadway, Los Angeles 90003

  • Huge non-rent controlled building built in 1991
  • Excellent unit mix with 10 two bedroom units and 2 one bedroom units
  • Well maintained property with all modern major systems
  • Controlled access to parking and units, new internet based security cameras, call box, and main entry door
  • Strong actual income at 11.5X gross plus a 14% upside in rents to a market GRM of 10.13X and a pro forma cap rate of 6.2%
  • Very well-parked with 22 gated parking spaces (4 currently used for laundry and storage)
  • Recently fully tented and fumigated for pest control
  • Significant exterior refresh completed in 2018
  • Convenient location close to public transit, 4 miles to new NFL football stadium
  • Potential for additional income from cellular tower installation
current

UNITS: 12

GROSS RENT MULTIPLIER: 11.5

CAP RATE: 5.1

PRICE

$2,295,000

ANNUAL INCOME

$193,542

ANNUAL NOI

$116,742

ANNUAL EXPENSE

$76,800

Rental Cost Details

# OF UNITS # OF BEDROOMS # OF BATHS ACTUAL RENT TOTAL RENT PRO FORMA TOTAL PRO FORMA
1021$1,395$13,950$1,600$16,000
211$1,300$2,600$1,400$2,800
TOTAL # OF UNITS TOTAL # OF BEDROOMS TOTAL # OF BATHS GRAND TOTAL RENT GRAND TOTAL PRO FORMA
1232 $16,550 $18,800
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