Thank you
Adam Bray-ali
Coldwell Banker Realty
626-449-5222
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. Current GRM of 12.2 and Cap Rate of 5.63%. Pro Forma Cap rate 7.40% All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathrooms. Building square footage of 3,135 and property is 5,719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD. Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
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Total Baths: 0
Water Source : Public
Sewer : Public Sewer
Roof : Shingle
Fireplace: None
None
Air Conditioning
Natural Gas
Has Heating
Fireplace Features: None
Has Fireplace: 0
Year Built: 1912
Building Area Total: 3,135
Roof: Shingle
See Remarks
None
Chain Link,Wood
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1313
Lot Size Source: Public Records
Lot Size Square Feet: 5719
Original List Price: 975,000
Listing Contract Date: 2023-10-07
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5183022027
Garage Description: Door-Single,Driveway,Garage,Shared Driveway,On Street
Lease Term: Negotiable
Tenant Pays: Electricity,Gas,Trash Collection
Source Listing Status: Active Under Contract
Source Neighborhood: BOYH - Boyle Heights
Directions: Located just north of Whittier. From Downtown LA, east on 6th Street Viaduct and then left on Soto, left of 6th and left on Chicago. Property located on West Side of Street. Front building is a fourplex, rear apartment built over the garage.
Source Property Type: Residential Income
Area: BOYH - Boyle Heights
Property SubType: Apartment
Property Age: 112
Common Walls: No Common Walls
Structure Type: Apartment
Year Built Source: Public Records
Entry Level: 12
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
4967 Dartmouth Ave, Los Angeles, CA,90023 | $108,000 | -- | -- | -- | 6878 Sqft |
4963 -4987 Dartmouth Ave, Los Angeles, CA,90023 | $640,000 | -- | -- | -- | 41616 Sqft |
4945 -4953 Dartmouth Ave, Los Angeles, CA,90023 | $350,000 | -- | -- | -- | 19940 Sqft |
5150 Dartmouth Ave, Los Angeles, CA,90023 | $150,000 | -- | -- | -- | 8799.12 Sqft |
3454 Hunter Street, Los Angeles, CA,90023 | $700,000 | -- | -- | 1,700 | 3934 Sqft |
755 S Boyle Avenue, Los Angeles, CA,90023 | $1,989,000 | -- | -- | 9,532 | 6839 Sqft |
945 Record Ave, Los Angeles, CA,90023 | $1,389,888 | 8 | 4 | 3,283 | 5546 Sqft |
3900 Whittier Boulevard, Los Angeles, CA,90023 | $1,499,900 | -- | -- | -- | 11349 Sqft |
3512 E 7th Street, Los Angeles, CA,90023 | $1,075,000 | -- | -- | 2,592 | 7531 Sqft |
4173 Hubbard Street, Los Angeles, CA,90023 | $675,000 | 4 | 2 | 1,680 | 4273 Sqft |
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ByOwner last updated this listing 05/14/2024 @ 00:51
MLS: P1-15332
LISTED BY: Adam Bray-Ali, Coldwell Banker Realty
SOURCE: CRMLS
Buyer Agency Compensation: 2.5%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.