This charming four-unit apartment property is located in the high demand rental market of Boyle Heights in East Los Angeles. Three of the four units are currently occupied and one of the units (2 bed 1 bath), is currently vacant, creating an excellent opportunity for an owner-occupant or an investor… Read More who is looking to lease out the final unit to realize a strong cap rate of 6.7%. The property enjoys a large lot which has allowed the landlord to gain full RTI (Ready to Issue) permit approval for the construction of TWO new ADU units at the rear of the lot. A buyer can pull the permits and immediately begin construction. Although the building was originally built in 1900 the building suffered significant fire damage in October 2022 and it has been completely rebuilt. The first floor was taken down to the studs with all interior components being new construction. The second floor is where the fire originated and the entire second floor was demolished and rebuilt, including brand new frame. Due to the neighborhood’s historic designation, the building had to be rebuilt in the same style that existed prior to the fire. DON’T MISS THIS OPPOTUNITY TO OWN A NEARLY BRAND NEW INVESTMENT PROPERTY WITH STRONG INCOME IN ONE OF LOS ANGELES’ MOST UP AND COMING NEIGBORHOODS! Read Less
Property listed by Apex Properties, Christopher Comfort 818-917-6558
Listing Snapshot
Days Online
82
Last Updated
Property Type
Quadruplex
Lot Size
0.15 Acres
Year Built
2024
MLS Number
DW25192363
30 Days Snapshot Of 90033
$763k
0%
(avg) sold price
0
-100%
homes sold
58
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 2024, Building area total: 2,269, 1 building, Common walls: NoCommonWalls
Community
Gutters, Sidewalks
Expenses
Electric expense: $600, Gardener expense: $1,800, Insurance expense: $6,900, Maintenance expense: $3,600, New taxes expense: $15,625, Operating expense: $31,645, Water sewer expense: $1,680, Other expense: $1,440
Income
Gross income: $115,356, Net operating income: $83,711
Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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