Renovated Retail / Mixed-Use on Broadway | 5911 S Broadway
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Renovated Retail / Mixed-Use on Broadway 5911 S Broadway
2,400 SF 75% Leased Retail Building Los Angeles, CA 90003 $620,000 ($258/SF) 5.10% Cap Rate
Investment Highlights
- Extensively renovated building including electrical upgrade to 320 amps in 2019, new sewer line, bathroom plumbing
- Located on a commercial section of Broadway with active retail stores and foot traffic
- 2 retail entrances
- 25 feet of frontage on Broadway
- Alley access and gated parking of at least 2 spaces
- 90% SBA financing available to owner-users
Executive Summary
Kidder Mathews is pleased to present 5911 S Broadway, a 2,400 square foot, two-story building consisting entirely of functional artist studios of varying square footages, with one vacant unit upstairs. All units are on month-to-month leases. An investor can continue to rent these units or alternatively, re-convert the ground floor units to their original use as storefront retail. Alternatively, the building can be occupied by an owner-user for retail, studio, or warehouse use. An owner-user can obtain up to 90% SBA financing.
The rear 1st floor unit includes private use of a 1,000 square foot covered back yard work space, which alternatively could be used for parking.
The building has undergone a multitude of upgrades around 2018-19, including a full electrical upgrade to 320 amps; all floors including the balcony's have been replaced with laminate on the 2nd floor; new drywall on all of 1st floor and some on 2nd; new sewage pipes underground going from the 1st floor bathroom to the street; new tankless gas water heater and new pipes to 1st floor bathrooms and upstairs bathroom; new metal door at front entrance.
The building's original use was mixed-use ground floor retail and residential units upstairs. Buyer should do his/her own due diligence regarding all permits and square footages.
The rear 1st floor unit includes private use of a 1,000 square foot covered back yard work space, which alternatively could be used for parking.
The building has undergone a multitude of upgrades around 2018-19, including a full electrical upgrade to 320 amps; all floors including the balcony's have been replaced with laminate on the 2nd floor; new drywall on all of 1st floor and some on 2nd; new sewage pipes underground going from the 1st floor bathroom to the street; new tankless gas water heater and new pipes to 1st floor bathrooms and upstairs bathroom; new metal door at front entrance.
The building's original use was mixed-use ground floor retail and residential units upstairs. Buyer should do his/her own due diligence regarding all permits and square footages.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
2,400 SF
Building Class
C
Year Built/Renovated
1911/2019
Price
$620,000
Price Per SF
$258
Cap Rate
5.10%
NOI
$31,626
Percent Leased
75%
Tenancy
Multiple
Building Height
1 Story
Slab To Slab
9’
Building FAR
0.92
Lot Size
0.06 AC
Zoning
LAC2
Parking
2 Spaces (0.83 Spaces per 1,000 SF Leased)
Frontage
28 FT on S Broadway
Amenities
- Bus Line
Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 6005-006-013 | Improvements Assessment | $108,760 |
| Land Assessment | $295,611 | Total Assessment | $404,371 |
PROPERTY TAXES
Parcel Number
6005-006-013
Land Assessment
$295,611
Improvements Assessment
$108,760
Total Assessment
$404,371
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Renovated Retail / Mixed-Use on Broadway | 5911 S Broadway
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