505 S Chicago Street, Los Angeles, CA 90033

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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.


Interior Features

Bedroom Information
Bedrooms 10
Bathroom Information
Bathrooms 5

Listing Information

Address 505 S Chicago Street
City Los Angeles
State CA
Zip 90033
County Los Angeles
Listing Agent Davis Saadian DRE #01921748
Courtesy Of KW Advisors
List Price $1,050,000
Status Active
Type Residential Income
Structure Size 4,902
Lot Size 7,465
Year Built 1905

Listing information courtesy of: Davis Saadian, KW Advisors. *Based on information from the Association of REALTORS/Multiple Listing as of Sep 30th, 2024 at 6:22 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.