Property Detail

Description

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 $188 per square foot and 8.80 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 6.48 GRM and 10.61% 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.