8000 S Broadway Contingent Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90003
Key Details
Property Type Commercial
Listing Status Contingent
Purchase Type For Sale
MLS Listing ID CRSR25047475
Year Built 2005
Lot Size 0.847 Acres
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 proper
Location
State CA
County Los Angeles
Area C37 - Metropolitan South
Interior
Laundry Community Facility
Exterior
Parking Features Gate / Door Opener
Garage Spaces 50.0
Pool None
Building
Story Three or More Stories
Water District - Public
Others
Special Listing Condition Not Applicable ,Accepting Backups