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939 S Broadway 304, Los Angeles, California 90015, Los Angeles, 90015 - 1 bed, 1 bath

939 S Broadway 304, Los Angeles, California 90015 home-pic-0
ACTIVE$619,000
939 S Broadway 304, Los Angeles, California 90015
1Bed
1Bath
750Sqft
15,498Lot
Year Built
1924
Close
-
List price
$619K
Original List price
$619K
Price/Sqft
$825
HOA
$510
Days on market
-
Sold On
-
MLS number
24446057
Home ConditionExcellent
Features
Excellent View: Panoramic
Deck
Pool
Spa
ViewPanoramic

About this home

We found 3 Cons,5 Pros. Rank: price - $619.0K(58th), sqft - 750(19th), beds - 1(50th), baths - 1(50th).

Amazing AirBnB investment opportunity in DTLA! This art-deco themed unit boasts 9' ceilings, upgraded soundproof windows, natural light, neutral tile, quartz counters, and SS appliances. Everything conveys. Everything is included to begin generating income from Day 1. This is an opportunity to purchase a successful short-term rental in a prime location, close to shops, restaurants/bars, and Crypto arena. Building amenities include rooftop pool/spa, on site gym, 24-hour security, and the lowest HOA fees in DTLA. This is an active AirBnB. Please text listing agent to coordinate a viewing on cleaning days. No lockbox access. Please schedule showings in advance. This property is one of the few that through a successful application is allowed to operate Transient Occupancy Tax (TOT) which allows for AIrBnB with the correct permits that are renewable on a yearly basis. To further attract this property, all Furniture and Furnishings will be included in the sale. Additionally, The unit features upgraded windows for sound deadening that sets this unit apart for comfort. This property is in a census tract that has been designated a High Cost Area. For FTHBs with income less than $10,570/mo, the High Cost Area Purchase Program offers up to $16,023 in agency credits for an interest rate buy down. Please consult with a licensed mortgage professional for more details.

Price History

Date
Event
Price
09/27/24
Listing
$619,000
03/27/20
Sold
$519,000
Condition Rating
Excellent
Despite the 1924 build year, the property has clearly undergone a comprehensive and recent renovation. The description highlights 'upgraded soundproof windows, natural light, neutral tile, quartz counters, and SS appliances,' all of which are confirmed by the images. The kitchen features modern white high-gloss cabinetry, stainless steel appliances, and sleek quartz countertops. The bathroom boasts a contemporary floating vanity, a modern backlit mirror, and neutral large-format tiling. The overall aesthetic, including polished concrete floors and exposed ductwork, is very current and shows no signs of wear or deferred maintenance. This unit is move-in ready and appears to have been extensively updated within the last 5 years, aligning perfectly with the 'excellent' condition criteria.
Pros & Cons

Pros

Proven Airbnb Investment: The property is an active, successful, and legally permitted short-term rental (TOT), offered as a turnkey operation with all furnishings included, ready to generate immediate income.
Prime Downtown Location: Situated in a highly desirable DTLA area, offering excellent walkability to shops, restaurants, bars, and the Crypto.com Arena.
Exceptional Building Amenities: Residents and guests benefit from a rooftop pool/spa, on-site gym, and 24-hour security, enhancing lifestyle and rental appeal.
Modern & Soundproofed Unit: Features upgraded soundproof windows, 9' ceilings, natural light, quartz counters, and stainless steel appliances, providing a comfortable and contemporary living space.
Low Association Fees: Boasts some of the lowest HOA fees in DTLA, contributing to better investment returns and lower ownership costs.

Cons

Challenging Showing Logistics: As an active Airbnb, viewings are restricted to cleaning days and require advance scheduling, potentially hindering buyer access and quick decisions.
Historic Building Age: Constructed in 1924, the building's age may present potential for unforeseen maintenance or infrastructure issues, despite unit-specific upgrades.
Annual Permit Renewal: The Transient Occupancy Tax (TOT) permit, crucial for legal Airbnb operation, requires annual renewal, introducing an ongoing administrative task and potential for future policy changes.

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