$1,050,000
For Sale

505 S Chicago Street

Los Angeles, CA 90033
4902 sqft | 10 beds | 0.17 acres | #24434457
Listing OfficeKW Advisors
Browse 8 photos
Type:Multi-Family
Structure:House
Zone:Commercial

Description

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.

  • Property Details
      • Property SubtypeResidentialIncome
      • Property TypeMulti-Family
      • CountyLos Angeles
      • Original List Price$1,050,000
      • MLS #24434457
      • MLS #24434457
      • Cost1050000
      • Acres0.1714
      • Square Feet4902
      • Year Built1905
      • Bedrooms10
      • Stories2

Location

Jessie Espinosa | Century 21 Select Real Estate, TurlockReal Estate Group
$
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Down Payment

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%
10.0%

Interest Rate

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6.0%

Tax Rate

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2.6%
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$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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