241 West 105th Street

Los Angeles, CA 90003

$1,950,000
Price
1
Beds
13
Baths
3,433 Sq. Ft.
$568 / Sq. Ft.
3,433
Sq. Ft.
$568
per Sq. Ft.

Description

10424 s. Broadway is an investment opportunity located in South Los Angeles, conveniently situated in the high rental demand pocket between Century Blvd and Main Street. The strong cashflow and high yield property is offered at an attractive 7.03% CAP rate and 8.7 GRM on actual income, with 100% occupancy in the building. An investor can capture significant additional upside with the permit to add 3 large ADU units on the property, that will be delivered RTI. The ADU units are consisting of a two-bedroom/one-bathroom,...10424 s. Broadway is an investment opportunity located in South Los Angeles, conveniently situated in the high rental demand pocket between Century Blvd and Main Street. The strong cashflow and high yield property is offered at an attractive 7.03% CAP rate and 8.7 GRM on actual income, with 100% occupancy in the building. An investor can capture significant additional upside with the permit to add 3 large ADU units on the property, that will be delivered RTI. The ADU units are consisting of a two-bedroom/one-bathroom, a three-bedroom/one-bathroom, and a three-bedroom/two bathroom unit, which could bring north of an additional $9,400 per month once completed and rented. The 1986 built property does not fall within the city of Los Angeles rent control, and comes with renovated units, a new roof that was recently installed, and upgraded plumbing and electrical. The building has secured gated access with thirteen on-site parking spaces as well. The dense, infill location of South LA comes with an easy commute to Downtown Leimert Park and Mid-City with multiple Metro local lines and the Metro C rail line all nearby the property.
  1. Listed by Sean Namigohar • DRE #01949705 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 241 West 105th Street

Zoning
LAC2
Parcel Number
6074003036
Total Units
13.0
Living Area
3433
Source Living Area
Vendor Enhanced
Area
Metropolitan South (C37)
Vacancy Rate
0
Lot Size Area
6302

Location

Listing Courtesy of Marcus & Millichap, Sean Namigohar, DRE #01949705
Add your commute
LISTING UPDATED: 02/10/2024 04:05 PM

Property Details for 241 West 105th Street

StatusActive
MLS #24-357107
Days on Market94
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
Lot Size0.14 AC / 6,302 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sean Namigohar, DRE #01949705
Add your commute

Building Information for 241 West 105th Street

Stories-Residences-Year Built1986Building Size-Lot Size0.14 AC / 6,302 SF

Payment Calculator

$12,298 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,642

Property Taxes

$1,656

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 241 West 105th Street

Community / Development
Community / Development
  • Number Of Units: 13
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 13
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $223,056
  • Net Operating Income: $137,007.00
  • Gross Income: $18,588
  • Cap Rate: 7.03%
  • Gross Rent Multiplier: $8.74
  • Total Annual Expense: 79357
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 6302
Parking Details
Parking Details
  • Parking Garage: Carport
  • Total Parking: 13
  • Covered Parking: 13
  • Parking Features: Carport
Interior Features
Interior Features
  • Levels: Two
  • Cooling Type: Wall Unit(s)
  • Heating Type: Wall Electric
  • Equipment: Other
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 02-10-2024
Unit Details
Unit 1 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $2,015.00
  • Unit Actual Rent: $2,015.00
  • Unit Projected Rent: $2,100.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,262.00
  • Unit Actual Rent: $15,138.00
  • Unit Projected Rent: $1,300.00
  • Like Units: 12
Unit Details
  • Unit Type Type: 2106, 2107

Property History for 241 West 105th Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 241 West 105th Street

Taxable ValueLand$1,050,757Additions$450,323Total$1,501,080
Tax Record2023$19,868 ($1,656 / month)
Home Facts
Total Finished SqFt3,433 SqFtAbove Grade Finished SqFt3,433 SqFtStories1Lot Size6,300 SqFtStyleHotel / MotelYear Built1986ZoningLAC2CountyLOS ANGELESAPN6074-003-036

Schools near 241 West 105th Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Charter - 6 to 8
Charter - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Alain Leroy Locke College Prep Academy
Charter9 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.

Similar Homes

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241 West 105th Street is a multi-family home for sale in Los Angeles, CA 90003. This property was listed for sale on February 2, 2024 by Marcus & Millichap, it's currently listed at $1,950,000. It has been on the market for a total of 94 days and was last sold on May 5, 2019. This listing's school district is Los Angeles Unified School District. Nearby schools include One Hundred Seventh Street Elementary School, Alliance College-Ready Middle Academy No. 4 and Alain Leroy Locke College Prep Academy. 241 West 105th Street is a 1-bed, 13-bath, 3,433 sqft multi-family home built in 1986.

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 Marcus & Millichap, Sean Namigohar, DRE #01949705

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.