Lucrum Real Estate Group is 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) gated 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, including those within the 90003 zip code area, also known as Green Meadows. 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. Housing and Real Estate South LA, particularly the 90003 area, is characterized by a mix of single-family homes, multi-family apartment complexes, and some public housing projects. The region has a significant number of renters compared to homeowners, partly due to the affordability challenges that residents face. The area has seen a rise in real estate interest in recent years as housing demand in Los Angeles grows, yet housing affordability remains a critical issue for residents. Low-Income Housing Tax Credit (LIHTC) projects, Section 8 properties, and other affordable housing programs are essential in maintaining affordable housing options for the community. Economic Development and Employment In recent years, South Los Angeles has been the focus of economic revitalization efforts, though parts of the 90003 area still face economic challenges. Many residents work in the service, retail, and construction industries, and there is a push to attract more jobs to the area that provide sustainable wages and benefits. There are several small businesses, local eateries, and cultural shops that contribute to the local economy, reflecting the neighborhood’s cultural diversity. Community organizations and city initiatives work to improve job access and workforce development for residents, aiming to address unemployment and underemployment in the area. Transportation South LA, including 90003, has access to multiple public transportation options through the Los Angeles Metro system, including buses and nearby Metro Rail stations. These public transportation options are essential for residents who may rely on transit to commute to work or access services across Los Angeles. The area’s proximity to major freeways also provides connections to other parts of the city, although traffic congestion can be an issue. Future Outlook With ongoing revitalization efforts, South LA is gradually transforming. The community is working to balance new development with preserving its cultural identity and affordability. Initiatives from both public and private sectors aim to improve the quality of life in 90003, addressing housing, economic development, and social services. Location Highlights + There are over 15 public, private, and charter schools within a 1-mile radius + Within minutes of the Figueroa/Harbor Metro Light Rail Station + Central to downtown Los Angeles, Inglewood, Torrance, and South Gate + Close proximity to shopping, public transportation, and social services + Easy access to major freeways, including the 110, 105, and 405 + Short drive to Los Angeles International Airport