Pleased to introduce this excellent investment opportunity in a high-demand rental pocket adjacent to Boyle Heights and just 6 miles from Downtown Los Angeles. This 9-unit multifamily property, built in 1960, features a majority of two bedroom units and offers strong in-place cash flow with a 6.5% cap rate… Read More on current rents, plus significant upside—up to 44% projected rental growth. Recent improvements include new asphalt and a newer copper re-pipe, reducing immediate capital expenses for new ownership. Onsite amenities include laundry facilities and a total of 9 parking spaces: 1 garage, 3 carports, and 5 open spaces. Tenants enjoy walkable access to shops, restaurants, grocery stores, and public transportation, making this a highly attractive location for long-term tenancy. Don’t miss this rare opportunity to acquire a value-add asset in one of L.A.'s most consistently strong rental markets. Read Less
Property listed by Morgan Skenderian, Rick Applebaum [email protected]
Listing Snapshot
Days Online
125
Last Updated
Property Type
Apartment
Lot Size
0.19 Acres
Year Built
1960
MLS Number
PW25126510
30 Days Snapshot Of 90023
$458k
-40%
(avg) sold price
4
-20%
homes sold
106
-10%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1960, Building area total: 5,413, 1 building, Common walls: NoCommonWalls
Community
Biking, Curbs, Park, StreetLights, Sidewalks
Expenses
Electric expense: $3,521, Fuel expense: $3,521, Gardener expense: $1,800, Insurance expense: $5,413, Maintenance expense: $6,843, New taxes expense: $26,176, Operating expense: $55,068, Trash expense: $3,521, Water sewer expense: $3,521, Other expense: $750
Garage
1 space
Income
Gross income: $176,376, Net operating income: $116,016
Laundry
CommonArea
Lot
0.1902 acres, 8,283 square feet, Size: 8,283
Parking
3 carport spaces, 5 open parking spaces, 9 totals parking
Pool
None
Property
Zoning: LCM1-R4*
Sewer
PublicSewer
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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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