$1,050,000
- Beds
- 10
- sq ft
- 4,902
505 S Chicago St, Los Angeles, CA 90033
505 S Chicago St
Los Angeles, CA 90033
- 113 days on market
We are pleased to offer for sale this five (5) unit multifamily investment opportunity located at 505 S. Chicago Street, in Boyle Heights. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1905 with a square footage of 4,902 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 2+1.5 units, and two (2) 2+1 units. The subject property is 100% occupied and is subject to the City of Los Angeles rent control regulation. The investment boasts spacious floor plans, five (5) on-site parking spaces, and individually metered for gas and electricity. Current gross income is $7,130/month, priced current at a 6+% cap rate and 12x GRM. There's approximately 45% upside in potential rents. Given the location, attractive local area amenities, and potential to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique premier property in the attractive Boyle Heights submarket that will provide exponential returns.
Details
Property type
Lot size
7,465 sq ft
Price per sq ft
$215
Year built
1905
HOA
No
Price History
09/02/2024
CLAW #24434457
Listed
$1,050,000
08/27/2024
CLAW #24422370
Removed
$1,050,000
-6.67%
08/01/2024
CLAW #24375637
Removed
$1,125,000
+7.14%
Schools & Community
Neighborhood:
Boyle Heights
Elementary school:
Unknown
Middle school:
Unknown
High school:
Unknown
Status: Active
Tomo last checked: 12/24/2024 at 4:25 AM
Listing updated: 12/04/2024 at 9:15 PM
Listed by: Davis Saadian, KW Advisors Phone #: (310) 482-2200
MLS: CLAW #24434457
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