8000 S Broadway, Los Angeles, CA 90003 (MLS # SR25047475)
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 eligible for the Property Tax Welfare Exemption for those aligned with a 501(c) (3), reducing the property takes by over 90%. More information can be found at: California State Board of Equalization.Broadway City Lights represents a rare and ideal opportunity for a savvy investor looking to acquire an Affordable Housing property, below replacement cost and that allows for significant upside potential.South Los Angeles, often called “South LA,” is a region with a rich history, diverse population, and a unique cultural heritage. It encompasses numerous neighborhoods. This area is known for its community-driven initiatives, historical significance, and the challenges and opportunities it faces in terms of economic development, public safety, and housing.
Property Type(s):
Residential Income
|
Last Updated
|
3/4/2025
|
Year Built
|
2005
|
|
Community
|
Metropolitan South
|
Garage Spaces
|
50.0
|
|
County
|
Los Angeles
|
Additional Details
| AREA |
Metropolitan South |
| GARAGE |
Gated, Yes |
| LOT |
0.85 acre(s) |
| PARKING |
Gated |
| POOL DESCRIPTION |
None |
| SEWER |
Public Sewer |
| STORIES |
3 |
| WATER |
Public |
| ZONING |
LAC2 |
Location
Listed with Equity Union
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 3/12/25 4:22 AM PDT and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
This IDX solution is (c) Diverse Solutions 2025.
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