$ 1,175,000
-
$1,175,000
Price -
8
Bed -
5
Bath -
3,387
SqFt
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About the Listing 51247 - CV33418
Just Listed! Outstanding value-add opportunity to acquire a 4-unit multi-family property in Boyle Heights, offering a rare combination of immediate vacancy and strong day-one cash returns. The property is currently operating at a 6.28% CAP Rate and 11.57 GRM, with three of the four units to be delivered vacant, allowing investors to lease at current market rents from the outset and maximize thier cash flow. Built in the 1970s, the property features a highly desirable and diverse unit mix consisting of a detached single-story 2-Bedroom/1-Bath cottage, one 2-Bedroom/2-Bath unit with a den, and two 2-Bedroom/1-Bath units, totaling approximately 3,385 rentable square feet on a 7,486 sq. ft. lot. Residents enjoy the privacy of a gated entry along with onsite garage parking, while ownership benefits from an efficient operating structure with tenants paying ALL utilities, including electricity, gas, trash and water! Adding to the property's long-term value is the potential to convert the standalone garage into an ADU (buyer to verify), creating an additional opportunity to increase future income. Conveniently located near the I-10, I-5, and 101 Freeways, the property offers excellent access to Downtown Los Angeles, major employment centers, shopping, dining, and public transportation. With three vacant units, excellent cash-on-cash return potential once leased at market rents, and additional ADU upside, this is a compelling opportunity for investors seeking immediate value creation in one of Los Angeles' strongest rental markets.
Listing Highlights
Interior Details
- Bedrooms: 8
- Bathrooms: 5 Full
- Appliances:
- Air Cond: Wall/Window Unit(s)
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: 0-1 Unit/Acre,No Land Lease
- Garage Capacity: 2 car
- Parking Spaces: 4
- Zoning: LARD1.5
- Roof: Shingle
- Others: 2+ Total Units,Has ADU
- Sewer: Public Sewer
- Parking Features: Assigned,Paved,Garage Faces Rear
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5174024035
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
1612 Pennsylvania Ave Los Angeles, CA 90033
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