505 S Chicago Street

Los Angeles, CA 90033

$1,050,000

List Price

10

bed Beds

5

shower Baths

4,902 sqft

straighten / sqft

1905

calendar_month Built

Property Description

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.

Listing Information

List Price $1,050,000
Status Active
MLS 24434457
Type Residential Income
Year Built 1905
Lot Size 7,465
Structure Size 4,902
DOM 8
Courtesy Of KW Advisors
Listing Agent Davis Saadian DRE#01921748

Interior Features

Total Bedroom
Bedrooms 10
Total Bathroom
Bathrooms 5

Exterior Information

Maps

Listing information courtesy of: Davis Saadian, KW Advisors . *Based on information from the Association of REALTORS/Multiple Listing as of Sep 10th, 2024 at 12:09 PM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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.