1818 North Broadway, Unit M

Los Angeles, CA 90031

$1,950,000
Price
15
Beds
15
Baths
4,142 Sq. Ft.
$471 / Sq. Ft.
4,142
Sq. Ft.
$471
per Sq. Ft.

Description

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...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.
  1. Listed by David Weinberger • DRE #01349349 • Keller Williams Studio City
  2. Listed by Megan Husri • DRE #02089901 • Keller Williams Studio City

Property Details for 1818 North Broadway, Unit M

Zoning
LAUV(CA)
Style
Unknown
Parcel Number
5447025006
Total Units
18.0
Living Area
4142
Source Living Area
Vendor Enhanced
Area
Lincoln Heights (677)
Vacancy Rate
6

Location

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; Keller Williams Studio City, Megan Husri, DRE #02089901
Add your commute
LISTING UPDATED: 03/09/2024 12:01 AM

Property Details for 1818 North Broadway, Unit M

StatusActive
MLS #24-364065
Days on Market63
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1897
Lot Size0.17 AC / 7,414 SF
CountyLos Angeles County

Location

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; Keller Williams Studio City, Megan Husri, DRE #02089901
Add your commute

Building Information for 1818 North Broadway, Unit M

Stories2Residences-Year Built1897Building Size-Lot Size0.17 AC / 7,414 SF

Payment Calculator

$10,642 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

—

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1818 North Broadway, Unit M

Community / Development
Community / Development
  • Number Of Units: 18
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: 2
  • Unit Number: M
Contract Info
Contract Info
  • Disclosures: Court Approval Required, As Is, Other
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $209,880
  • Net Operating Income: $124,046.00
  • Gross Income: $218,625
  • Cap Rate: 6.40%
  • Gross Rent Multiplier: $8.90
  • Total Annual Expense: 85833
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1702
  • Lot Size Square Feet: 7414
  • Lot Description: Street Paved, Sidewalks
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Assigned, Uncovered
  • Total Parking: 14
  • Parking Features: Assigned, Uncovered
Interior Features
Interior Features
  • Rooms: Other
  • Levels: Two
  • Den: No
  • Family Room: 0
  • Dining Room: 0
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating Type: Other
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: Other
Lease Terms
Lease Terms
  • Entry Date: 03-01-2024
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $838.00
  • Unit Actual Rent: $12,567.00
  • Unit Projected Rent: $18,900.00
  • Like Units: 15
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,400.00
  • Unit Actual Rent: $1,400.00
  • Unit Projected Rent: $1,400.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,051.00
  • Unit Actual Rent: $2,102.00
  • Unit Projected Rent: $2,102.00
  • Like Units: 2
Unit Details
  • Unit Type Type: 2106, 2107, 2108
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $274,647.00
  • Assessed Improvement Percent: 48.24
  • Assessed Land Value: $294,745.00
  • Assessed Land Percent: 51.76
  • Assessed Total Value: $569,392.00

Property History for 1818 North Broadway, Unit M

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 1818 North Broadway, Unit M

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Albion Street Elementary School
PublicK to 6

Florence Nightingale Middle School
Public6 to 8

Woodrow Wilson Senior High School
Public9 to 12

Abraham Lincoln Senior High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1818 North Broadway, Unit M is a multi-family home for sale in Los Angeles, CA 90031. This property was listed for sale on March 1, 2024 by Keller Williams Studio City, it's currently listed at $1,950,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Albion Street Elementary School, Florence Nightingale Middle School and Woodrow Wilson Senior High School. 1818 North Broadway, Unit M is a 15-bed, 15-bath, 4,142 sqft multi-family home built in 1897.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Williams Studio City, David Weinberger, DRE #01349349; Keller Williams Studio City, Megan Husri, DRE #02089901

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.