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1909 N BROADWAY 16 Unit Apartment Building $2,300,000 ($143,750/Unit) 4.76% Cap Rate Los Angeles, CA 90031
Investment Highlights
- Value-add opportunity with 34% rental upside
- Prime Lincoln Heights neighborhood
- Walk Score: 89
- First time on market in more than 47 years
- Proximity to Downtown Los Angeles, Chinatown, the Arts District, and Dodger Stadium
Executive Summary
Marcus & Millichap is pleased to present 1909 N Broadway, a two-story, 16-unit apartment community located in the heart of Lincoln Heights. Offered for sale for the first time in 47 years, the property presents an opportunity for investors to capture rental upside as units turn over.
Built in 1915, the unit mix consists of (2) bachelors, (6) studios, (4) one-bedroom/one-bath units, and (4) one-bedroom/two-bath units. The building spans approximately 7,607 square feet of living space on an 8,208 square foot lot. The property is master-metered for water, gas, and electricity and includes three recently replaced 40-gallon water heaters. Additional features include gated entry, a shared restroom on each floor currently utilized for storage, and no on-site parking.
Situated along N. Broadway just west of the 5 Freeway, the property benefits from a strong walk score of 89 and close proximity to local markets, neighborhood dining, and Chavez Ravine, home of Dodger Stadium. Downtown Los Angeles, Chinatown, the Arts District, Boyle Heights, and surrounding neighborhoods are only minutes away, with convenient access to both the 110 and 5 Freeways providing connectivity throughout Greater Los Angeles.
Built in 1915, the unit mix consists of (2) bachelors, (6) studios, (4) one-bedroom/one-bath units, and (4) one-bedroom/two-bath units. The building spans approximately 7,607 square feet of living space on an 8,208 square foot lot. The property is master-metered for water, gas, and electricity and includes three recently replaced 40-gallon water heaters. Additional features include gated entry, a shared restroom on each floor currently utilized for storage, and no on-site parking.
Situated along N. Broadway just west of the 5 Freeway, the property benefits from a strong walk score of 89 and close proximity to local markets, neighborhood dining, and Chavez Ravine, home of Dodger Stadium. Downtown Los Angeles, Chinatown, the Arts District, Boyle Heights, and surrounding neighborhoods are only minutes away, with convenient access to both the 110 and 5 Freeways providing connectivity throughout Greater Los Angeles.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $143,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 4.76% | Building Size | 7,220 SF |
| Gross Rent Multiplier | 10.38 | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | LAUV(CA) | ||
| Price | $2,300,000 |
| Price Per Unit | $143,750 |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| Gross Rent Multiplier | 10.38 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 7,220 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1915 |
| Opportunity Zone |
Yes |
| Zoning | LAUV(CA) |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $8,385 | - |
| 1+1 | 4 | $4,743 | - |
| 1+2 | 4 | $5,339 | - |
1 1
Walk Score®
Very Walkable (89)
Property Taxes
| Parcel Number | 5447-022-004 | Total Assessment | $2,991,150 |
| Land Assessment | $1,950,750 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,040,400 | Tax Year | 2025 |
Property Taxes
Parcel Number
5447-022-004
Land Assessment
$1,950,750
Improvements Assessment
$1,040,400
Total Assessment
$2,991,150
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1909 N BROADWAY
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