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$1,350,000
Est. payment /mo
1 Bed
1 Bath
6,363 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26014659
Bedrooms 1
Lot Size 6,363 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Prime Investment Opportunity, this Spanish-style multifamily property has been meticulously maintained by the same ownership for over 30 years and features high vaulted-ceiling units with exceptional light and architectural character. The property presents a strong value-add opportunity with over 56% rental upside, driven by extremely large unit layouts, including select units exceeding 1,000 square feet, allowing for the potential addition of extra bedrooms, conversion to true two-bedroom units, and incorporation of in-unit laundry to significantly increase rental income. There is also additional 4 individual garages and additional space behind garages that lend perfectly to potential multiple ADU's build. Located in Boyle Heights submarket of Los Angeles, the asset is surrounded by major employment centers and lifestyle amenities such as Union Station, Crypto.com Arena, the Arts District, Financial District, USC Keck School of Medicine, Little Tokyo, Chinatown, and Monterey Park Golf Club. Additional upside includes the potential to reduce property taxes through the Mills Act (buyer to verify eligibility), the opportunity to implement RUBS to reduce operating expenses (buyer to verify), and one unit can be delivered vacant at close of escrow, providing immediate repositioning flexibility. Seller financing may potentially be available, subject to mutually agreeable terms.
Location
State CA
County Los Angeles
Zoning Assessor
Direction On Soto just south of 4th
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 5185001004
Acceptable Financing Cash, Conventional, Exchange, Seller May Carry
Listing Terms Cash, Conventional, Exchange, Seller May Carry
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Listed by Matthew Guerra, DRE#02022646 KW Executive
Nearby School & Business
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