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$ 11,000,000
Est. payment /mo
Active
8000 S Broadway Los Angeles, CA 90003
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 57,680 sqft
Price per Sqft $190
MLS Listing ID CRSR25047475
HOA Y/N No
Year Built 2005
Lot Size 0.847 Acres
Acres 0.85
Property Sub-Type Other
Property Description
We are proud to present Broadway City Lights, located at 8000 S. Broadway in Los Angeles, CA. This affordable housing community is managed under the Low-Income Housing Tax Credit (LIHTC) program, offering units at affordable rents for families meeting specific income qualifications. The project was completed in 2005 and consists of (49) 4-Bedroom + 2-Bath Units totaling 57,680± building square footage. Situated on a 0.84-acre lot, the property provides secured parking with (50) parking spaces, on-site laundry, and an impressive 2,500± SF unused community center located on the ground floor, which would be an ideal location for a wraparound services center, as well as a dedicated leasing office situated off the main lobby. The property is a value-added opportunity that provides for tremendous upside through the implementation of a strategic capital improvement plan and stabilization of the asset while lowering operating costs. There are significant advantages of implementing a more voucher-centric approach that would allow for increased revenue by taking advantage of the Voucher Program Standard (VPS) as posted on HACLA for 2-bedroom units and applying those rents to the 4-Bedroom units as well as increasing the capacity of the current on-site laundry facility. *The property is e
Location
State CA
County Los Angeles
Zoning LAC2
Interior
Fireplace No
Laundry Community Facility
Building
Sewer Public Sewer
Water Public
New Construction No
Others
Tax ID 6031026026
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Listed by Raymond Rodriguez • Equity Union