1020 Broad Ave — Sale in Los Angeles, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Los Angeles, CA 90744

Investment Figures

Cap rate
5.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present to market 1020 Broad Avenue, an eight-unit apartment building in Wilmington, California. This is an excellent investment opportunity for an investor looking for a value-add acquisition with a massive 71 percent rental upside potential and a strong unit mix in a dense rental submarket undergoing significant redevelopment. 1020 Broad Avenue is a 1958 construction with eight two-bedroom/one-bath units that are separately metered for gas and electricity. The building is situated on a 8,483-square foot lot that offers surface parking both in the front and rear of the building. The building also offers shared laundry facilities. The property boasts several recent substantial improvements, including a new roof and water heater in 2020, replacement of the second-story walkway for SB721 compliance in 2021, and the complete remodeling of two unit interiors at a cost of approximately $50,000. Wilmington is in the midst of a transformation driven by significant public and private investment along the LA Waterfront. The Port of Los Angeles recently delivered the $77 million Wilmington Waterfront Promenade, converting former industrial land into a vibrant nine-acre destination with parks, pedestrian paths, and waterfront access. Construction recently began on the Avalon Pedestrian Bridge and Promenade Gateway, a $150M large-scale project set to add roughly 12 additional acres of open space while physically linking the waterfront to Wilmington’s commercial corridors, enhancing foot traffic and neighborhood connectivity. Together, these projects are part of a broader master plan to reposition Wilmington from an industrial-adjacent neighborhood into a more accessible, amenity-rich coastal community. Investment Highlights: • Value-Add Opportunity With Massive Upside Potential: Eight-unit apartment building with 71 percent rental upside • Desirable Floor Plans: All two-bedroom/one-bath units • Significant Improvements Already Completed: A new

Market Context

This multifamily in Los Angeles, CA is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Los Angeles, CA — view the full market.

As of Q1 2026, the Greater Los Angeles multifamily market showed average asking rents near $2333.00/unit/mo, and cap rates around 5.0%. Source: multiple brokerage reports, Q1 2026.

Its 5.5% asking cap rate is above the Greater Los Angeles multifamily market average of about 5.0%, implying a higher yield (and typically more risk or upside) than comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in Greater Los Angeles?
About 5.0% as of Q1 2026, per multiple brokerage reports.

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