We are pleased to present 2500 E 1st St, a mixed-use property situated in the heart of the culturally rich Boyle Heights district, renowned for its diverse community and bustling atmosphere. Built in 1964, the 8,578 square foot property features a standalone corner retail unit complemented by an 8-unit apartment complex at the rear. The apartment consists of three (3) 1-bedroom and five (5) 2-bedroom units. With current rents offering significant room for growth, savvy investors can capitalize on a approximately 62% upside potential in rental income as units become vacant. Spanning across 8,641 square feet of land, the property is commercially zoned with a tier 4 TOC bonus, permitting the development of 40 units or more through ED-1, further enhancing its investment appeal. Strategically positioned just one block away from the E Line Soto Station & adjacent Los Lirios Apartments which boasts 2,400 square feet of ground-floor commercial space, this property offers unparalleled convenience and accessibility. Furthermore, with a brand-new four-story, 51-unit affordable housing complex scheduled for construction on the same block as the subject property, the area is experiencing a surge in development activity, underscoring its status as a burgeoning investment hotspot. With its proximity to downtown Los Angeles and seamless access to public transportation, Boyle Heights offers residents and businesses alike an unparalleled urban lifestyle. With its rich cultural heritage, diverse community, and thriving commercial landscape, Boyle Heights presents a compelling investment opportunity in one of Los Angeles' most dynamic and sought-after neighborhoods.
Property Type :
Residential Income
County :
Los Angeles
Style :
Residential Income
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ByOwner last updated this listing 05/21/2024 @ 15:18
MLS: 24384551
LISTED BY: Sevak Keshishian, Marcus & Millichap
SOURCE: CRMLS
Buyer Agency Compensation: 2%
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.
