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
sold
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 |
| 10 | 2 | 1 | $1,395 | $13,950 | $1,600 | $16,000 |
| 2 | 1 | 1 | $1,300 | $2,600 | $1,400 | $2,800 |
| TOTAL # OF UNITS | TOTAL # OF BEDROOMS | TOTAL # OF BATHS | GRAND TOTAL RENT | GRAND TOTAL PRO FORMA | ||
| 12 | 3 | 2 | $16,550 | $18,800 |
