$975,000 Price Analysis   ♡   Los Angeles, CA 90023 5 bed 5 bath 3,135 SqFt ($311/SqFt) 5,719SqFt lot. Built 1912 Listed 2023-10-08, Taxes $5,735 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property.
* Sale Pending *Current GRM of 11.7 and Cap Rate of 5.48%. Pro Forma Cap rate 7.32% All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathr ooms. Building square footage of 3, 135 and property is 5, 719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD, LA City RSO rules permit increased rents in February 2024.
Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent is part owner. Boyle Heights is experiencing renewed interest from hom buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
Presented by Adam Bray-Ali at
Coldwell Banker Realty.
Property MLS #P1-15332 from CRMLS
Heating: Yes
Road Frontage Type: City Street
Road Surface Type: Paved
Lot Size Acres: 0.1312902
Lot Size Source: Public Records
Lot Size Square Feet: 5719
Parking Features: Parking YN: Yes, Parking Features: Garage - Single Door, Driveway, Shared Driveway, Street
Parking Total: 2
Calculated Total Monthly Association Fees: 0
Gardener Expense: 600.00
Bedrooms in Unit-1: 1
Bedrooms in Unit-2: 1
Bedrooms in Unit-3: 1
Bedrooms in Unit-4: 1
Bedrooms in Unit-5: 1
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
Total Bathrooms in Unit-3: 1
Total Bathrooms in Unit-4: 1
Total Bathrooms in Unit-5: 1
Tenant Pays: Electricity, Trash Collection, Gas
Rent Control: Yes
County: Los Angeles
Cap Rate: 5.48
Source Property Type: Residential Income
Exclusions: Tenant owned appliances and personal property.
Inclusions: Seller owned appliances and equipment stored at the property.
Insurance Expense: 3500.00
Area: BOYH - Boyle Heights
Source Neighborhood: BOYH - Boyle Heights
New Taxes Expense: 10500.00
Number of Separate Electric Meters: 5
Number of Separate Gas Meters: 5
Number of Separate Water Meters: 1
Parcel Number: 5183022027
Professional Management Expense: 3600.00
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $231,105 + $188,531 $419,636 | $5,735 |
| 2021 | $226,574 + $184,835 $411,409 | $5,655 |
| 2020 | $224,251 + $182,940 $407,191 | $5,713 |
| 2019 | $219,854 + $179,353 $399,207 | $5,514 |
| 2018 | $215,544 + $175,837 $391,381 | $5,456 |
| 2017 | $211,318 + $172,390 $383,708 | $5,303 |
| 2016 | $207,175 + $169,010 $376,185 | $5,162 |
| 2015 | $204,064 + $166,472 $370,536 | $5,095 |
| 2014 | $200,067 + $163,212 $363,279 | $5,142 |
| 2013 | $199,163 + $162,475 $361,638 | $5,133 |
| 2012 | $195,258 + $159,290 $354,548 | $5,196 |
| 2010 | $191,430 + $156,167 $347,597 | $5,011 |
| 2009 | $26,824 + $15,779 $42,603 | $1,141 |
| 2009 | $190,000 + $155,000 $345,000 | $1,141 |
| 2008 | $26,299 + $15,470 $41,769 | $1,119 |
| 2007 | $25,784 + $15,167 $40,951 | $1,080 |
$975,000
CRMLS
Listing removed 2022-01-02
$0
CRMLS
Price Changed 2021-10-06
$1,100,000
CRMLS
Listed 2021-08-06
$1,150,000
CRMLS
Listing removed 2010-05-28
$339,000
TheMLSCLAW
Listing removed 2009-12-21
$339,000
SoCalMLS
Sold 2009-12-04
$345,000
ITECH
Listing removed 2009-11-19
$339,000
TheMLSCLAW
Price Changed 2009-11-08
$339,000
TheMLSCLAW
Price Changed 2009-10-22
$379,000
TheMLSCLAW
Listed 2009-08-25
$399,000
TheMLSCLAW
Listed 2009-08-24
$339,000
ITECH
Listed 2009-08-24
$339,000
TheMLSCLAW
Listed 2009-08-24
$339,000
SoCalMLS
Listing removed 2009-07-04
$525,000
CRMLS
Listed 2009-04-04
$525,000
CRMLS
Year Built: 1912
Building Features: 2
Common Walls: No Common Walls
Entry Level: 12
Property Age: 112
Roof: Shingle
Levels or Stories: Two
Building Total Stories: 2
Structure Type: Apartment
Year Built Source: Public Records
Sewer: Sewer: Public Sewer, Water Sewer Expense: 3000.00
Cable Available
Water Connected
Sewer Connected
Natural Gas Connected
Electricity Connected
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.