1818 N Broadway, Los Angeles, CA 90031
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1818 N Broadway Los Angeles, CA 90031

$1,950,000
  • 2 Beds
  • 18 Baths
  • 4,142 Sq.Ft.
For Sale
$1,950,000 Get Pre-Qualified

Map preview of 1818 N Broadway, Los Angeles, CA 90031

Property Overview: 1818 N Broadway Los Angeles, CA has 2 bedrooms, 18 bathrooms, 4,142 living square feet and 7,414 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by David Weinberger | BRE #01349349 | Keller Williams Studio City
Co-listed by Megan Husri | BRE #02089901 | Keller Williams Studio City
Last checked: 13 minutes ago | Last updated: March 9th, 2024 | Source CRMLS | DOM: 57
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Home details

Lot Sq. Ft
7,414
HOA Dues
$0/mo
Year built
1897
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
24364065
City
Los Angeles
County
Los Angeles
Time on Site
71 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 2
Unit Breakdown 1
  • # of Units: 15
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $838
  • Total Rent: $12,567
  • Pro Forma/Market Rent: $18,900
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,400
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Furnishing: Unfurnished
  • Actual Rent: $1,051
  • Total Rent: $2,102
  • Pro Forma/Market Rent: $2,102
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 6.4%
  • Gross Rent Multiplier: 8.9
  • Gross Scheduled Income: --
  • Net Operating Income: $124,046
  • Gross Operating Income: $209,880
Annual Expense Breakdown
  • Total Operating Expense: --

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Property Details for 1818 N Broadway

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Kitchen Information
  • Has Appliances
Interior Features
  • Levels: Two
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 14
  • Has Parking
  • Parking Features: Assigned, Uncovered
Property Information
  • Total # of Units: 18
  • Parcel Number: 5447025006
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Assessment Information
  • No Assessments
Location / Neighborhood
Location Information
  • Directions: Cross Streets: N Broadway & S Ave 19
View more facts & features

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Sale History for 1818 N Broadway

Last sold for $425,000 on December 8th, 2003
  • March, 2024

  • Mar 1, 2024

    Date

    Active

    CRMLS: 24364065

    $1,950,000

    Price

  • April, 2021

  • Apr 19, 2021

    Date

    Canceled

    CRMLS: 17293378

    $2,100,000

    Price

  • Jan 11, 2018

    Date

    Pending

    CRMLS: 17293378

    $2,100,000

    Price

  • Dec 1, 2017

    Date

    Active

    CRMLS: 17293378

    $2,100,000

    Price

  • Listing provided courtesy of CRMLS

    We are pleased to offer for sale this nineteen (19) unit multifamily investment offering, located in the City of Los Angeles. This two-story building was constructed of wood frame and stucco on a raised foundation built in 1897 with a square footage of 4,142 on a 7,414-square foot lot. Meticulously landscaped and recently renovated, the subject property represents a very desirable asset in the supply-constrained Lincoln Heights sub-market. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of fifteen (15) bachelor units, two (2) 1+1 units, one (1) studio, and one (1) commercial space. The investment is subject to the City of Los Angeles rent control regulation.

  • December, 2003

  • Dec 8, 2003

    Date

    Sold (Public Records)

    Public Records

    $425,000

    Price

  • June, 2000

  • Jun 30, 2000

    Date

    Sold (Public Records)

    Public Records

    $160,000

    Price

Show More

Tax History for 1818 N Broadway

Assessed Value (2020): $541,673
Year Land Value Improved Value Assessed Value
2020 $280,396 $261,277 $541,673

Home Value Compared to the Market

This property vs the competition

1818 N Broadway is listed 56.12% higher than the median list price for the city of Los Angeles which has a median list price of $1,249,000. The median price per/sqft for Los Angeles is $774 and this home is listed at $470.79 per/sqft which puts the price per square foot 39.17% lower than the median price per square foot for the city of Los Angeles.

About 1818 N Broadway

Detailed summary of property

1818 N Broadway is a multi family located in Los Angeles, CA 90031 and is currently for sale. This multi family property offers 2 bedrooms, 18 bathrooms, roughly 4,142 living square feet, and sits on an approximately 7,414 square foot lot. 1818 N Broadway was first listed on ArdentRealEstateGroup.com on March 2, 2024. The homeowner is currently asking $1,950,000. The median priced home in Los Angeles is $1,249,000 with a median price per square foot of $774. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 56.12% higher than the median priced home. Local competing homes currently for sale include 2437 Houston St, 316 N Fickett St and 2607 Pennsylvania Ave. While the average home in Los Angeles, CA is selling in 93 days, 1818 N Broadway has a days on market of 57 days. There are currently 3618 homes for sale in the Los Angeles real estate market and 2437 of them are single family homes while 1084 of them are condos and 92 are townhomes. For more information on this home for sale at 1818 N Broadway Los Angeles, CA 90031 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1818 N Broadway

Public county record property details
Beds
15
Baths
15
Year built
1897
Sq. Ft.
4,142
Lot Size
7,411
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
3
APN
5447-025-006

The source for these homes facts are from public records.

90031 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$840,000
Median List Price/Sq.Ft.
$661
Median Sold Price
$800,000
Median Sold Price/Sq.Ft.
$638
Total Inventory
34
Median Sale to List Price %
100%
Avg Days on Market
23
Loan Type
Conventional (18.18%), FHA (0%), VA (0%), Cash (36.36%), Other (18.18%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.