505 S Chicago Street

Los Angeles, CA 90033

About this property

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 current at a 6+% cap rate and 12x GRM. There's approximately 45% 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.

About this property

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 current at a 6+% cap rate and 12x GRM. There's approximately 45% 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.

Features and Additional Information

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$1,050,000 Active
4,902 SQFT

Presented By Coldwell Banker Home Source

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Get in touch today! Phone: 1-760-684-8100
License #01902736
Brokerage
KW Advisors 310-482-2200
1-310-482-2200
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Area Information

BOYH Boyle Heights | Los Angeles County |

$ 1,050,000
This listing is play_arrow 16.8% higher than the average in the area
$ 899,000 in the area
4,902 SqFt
This listing is play_arrow 101.2% larger than the average in the area
2,436 SqFt in the area
$ 214 $/SqFt
This listing is play_arrow 42.0% less than the average in the area
$ 369 $/SqFt in the area
101 days on site
This listing is play_arrow 14.4% below the average in the area
118 days on site in the area

Schools in the Area

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Listed By Davis Saadian
Brokerage: KW Advisors 310-482-2200

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