Thank you
Stelios Zoumberakis
Keller Williams Coastal Prop.
562-961-1400
$275K price update! MOTIVATED SELLERS! This mixed-use property features a blend of both commercial and residential spaces, making it an attractive prospect for investors seeking a diverse income stream and future growth potential. Boasting a generous lot size of 5,948 square feet, the property comprises two separate buildings—a 2,660-square-foot commercial market with a secure five-year lease and a 864-square-foot 2-bedroom/1-bath residence currently on a month-to-month tenancy. The commercial market provides a stable income with a remaining five-year lease, offering investors a reliable return at an attractive 7% cap rate. Meanwhile, the residential unit adds flexibility, allowing for owner occupation, rental, or potential conversion opportunities. This property presents a unique house-hacking opportunity by combining a commercial unit with residential space, allowing owners to live in one while generating income from the other, effectively offsetting living expenses. Priced at $500 per square foot for the residential component, this property is positioned competitively in the market. Its strategic location, with easy access to major transportation routes and proximity to downtown LA, further enhances its appeal. This investment opportunity not only provides immediate returns but also offers a diversified portfolio with long-term appreciation potential. Don't miss the chance to explore the possibilities of this mixed-use gem in Boyle Heights. Contact us today to seize this unique investment opportunity. Developer? Tier 2 TOC bonus available. Available separately or concurrently with neighboring property.
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Water Source : Public
Sewer : Public Sewer
Year Built: 1923
Building Area Total: 3,524
None
None
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1366
Lot Size Source: Assessor
Lot Size Square Feet: 5950
Original List Price: 875,000
Listing Contract Date: 2023-12-18
Listing Agreement: Exclusive Right To Sell
Parcel Number: 5190023008
Lease Term: Negotiable
Tenant Pays: Electricity,Gas
Source Listing Status: Active
Source Neighborhood: BOYH - Boyle Heights
Postal Code Plus 4: 2904
Directions: NW on 8th St from Olympic Blvd.
Zoning: LARD1.5
Source Property Type: Residential Income
Area: BOYH - Boyle Heights
Property SubType: Mixed Use
Property Age: 101
Common Walls: No Common Walls
Structure Type: Mixed Use
Year Built Source: Assessor
Entry Level: 1
Entry Location: 1
Levels or Stories: One
Building Total Stories: 1
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 |
705 S Chicago Street, Los Angeles, CA,90023 | $975,000 | -- | -- | 3,135 | 5719 Sqft |
3512 E 7th Street, Los Angeles, CA,90023 | $1,075,000 | -- | -- | 2,592 | 7531 Sqft |
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ByOwner last updated this listing 05/20/2024 @ 22:22
MLS: PW23227491
LISTED BY: Stelios Zoumberakis, Keller Williams Coastal Prop.
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.