$ 1,000,000
-
$1,000,000
Price -
10
Bed -
5
Bath -
4,902
SqFt
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About the Listing CLW-X7252101 - CLW-C114727
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 at a current at a 6.5% cap rate and 11.5x GRM. There's approximately 50% 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.
Listing Highlights for 505 S Chicago St
Status
Active
Days on Site
179
Property Type
Multi-Family
MLS ®
25509003
Year Built
1905
Total Square Footage
4,902
Lot/Acreage
0.17
County
Los Angeles
Area
BOYH - Boyle Heights
Interior Details
- Bedrooms: 10
- Bathrooms: 5 Full
- Appliances: Refrigerator
- Air Cond:
- Heating:
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 5
- Zoning: LARD1.5
- Roof:
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5183019014
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Listing Location
Questions About..
505 S Chicago St Los Angeles, CA 90033
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