1818 North Broadway
Los Angeles, CA, 90031 $ 1,950,000
Baths0.0 Sq 4,142 Monthly Estimate*
$ 13,621
Studio
for $1,950,000. This 4,142 square foot home was built in 1897 on a lot size of 0.17.
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.
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FeaturesGeneralCooling Wall/Window Unit(s)
Zoning LAUV(CA)
Year Built 1897
Levels Two
County Los Angeles
Net Operating Income 124046.0
New Construction No
Property Type C
HOA / Comm Assn No
Status Active
City Los Angeles
Buyer Agent Compensation 2.50
Senior Community Y/N No
MLS Area 677 - Lincoln Heights
Lot Size Square Feet 7414.0
Street Name Broadway
Standard Status Active
Buyer Agent Compensation Type %
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ExteriorParking Features Uncovered Assigned
Lot Size Area 7414.0
Building Area Total 4142.0
Lot Size Acres 0.17
Lot Size Units Square Feet
Land Lease Type Fee
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InteriorTotal Stories 2
Air Conditioning Y/N Yes
Total Baths 0
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* Excluded FeaturesList ByDavid WeinbergerListing Agent
Keller Williams Studio CityBroker
Affordability Calculator
- Monthly Principal & Interest
- $13,621
- Monthly Property Taxes
- --
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
Learn more about how to save NearbyMulti-family listings in Los Angeles, CA
Average List Price $1,999,871
Percent of Sale Price 3%
About Los Angeles, CA 3,920,026 Population
6% Since 2002
$ 55,057 Median Income
36.82 Median Age
27% Households with Children
Trends Information provided by ATTOM Data Solutions.
793437 Elementary School
793428 Middle School
Unknown High School High School
Pricing HistoryDate | Price | Price Change | Description |
---|
3/2/2024 | $1,950,000 | | Listed Price |