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.
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 Details
Price:
$11,000,000
MLS #:
SR25047475
Status:
Active
Baths:
0
Address:
8000 S Broadway
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
c37metropolitansouth
City:
Los Angeles
Listed Date:
Mar 4, 2025
State:
CA
ZIP:
90003
Lot Size:
36,897 sqft / 0.85 acres (approx)
Year Built:
2005
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Schools
Interior
Exterior
Community Features
Urban
Garage Spaces
50.00
Lot Features
Lot 20000-39999 Sqft
Parking Features
Gated
Parking Spots
50.00
Pool Features
None
Sewer
Public Sewer
Stories Total
3
Water Source
Public
Financial
Map
Community
- Address8000 S Broadway Los Angeles CA
- AreaC37 – Metropolitan South
- CityLos Angeles
- CountyLos Angeles
- Zip Code90003
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8000 S Broadway
Los Angeles, CA
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