$675,000 Price Analysis   ♡   Los Angeles, CA 90023 2 bed 2 bath 2,073 SqFt ($325/SqFt) 5,139SqFt lot. Built 1922 Listed 2023-12-18 | Ⓧ USDA Ineligible due to location near Los Angeles |
$260K Price update!
MOTIVATED SELLERS. Introducing an extraordinary investment opportunity nestled in the vibrant Boyle Heights neighborhood of Los Angeles. This mixed-use property, strategically positioned for both residential and commercial success, boasts a substantial lot size of 5, 139 square feet. Comprising two separate buildings, the first encompasses a 728-square-foot salon, offering a turnkey investment with a month-to-month lease and an enticing 7% cap rate. The second building features a comfortable 2-bedroom/1-bath residence spanning 1, 345 square feet. Notably, the residence includes a non-confirming studioa hidden income potential not currently reflected in the existing revenue. The month-to-month leases for both the salon and the residential unit provide flexibility for new owners, whether considering owner-occupation or optimizing rental terms.
This property offers a unique house-hacking opportunity, allowing residents to live in the comfortable home while benefiting from the immediate income generated by the salon. Furthermore, with the potential for an SBA loan, financing options add an additional layer of appeal for savvy investors. Priced attractively at $500 per square foot for the residential component, this property stands out in the market. Beyond its immediate income potential, the mix of commercial and residential elements positions it as a well-rounded investment with prospects for long-term appreciation. Don't miss the chance to explore this rare mixed-use gem in Boyle Heights. Contact us today to uncover the full potential of this dynamic propertyperfect for those seeking a diverse investment prtfolio or a distinctive house-hacking opportunity. Developer? Tier 2 TOC bonus available. Available separately or concurrently with neighboring property.
Presented by Stelios Zoumberakis at
Keller Williams Coastal Properties .
Property MLS #PW23227505 from CRMLS
Lot Size Acres: 0.1179752
Lot Size Source: Assessor
Lot Size Square Feet: 5139
Bedrooms in Unit-1: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
County: Los Angeles
Cap Rate: 5.04
Source Property Type: Residential Income
Insurance Expense: 1347.00
Area: BOYH - Boyle Heights
Source Neighborhood: BOYH - Boyle Heights
New Taxes Expense: 11688.00
Number of Separate Electric Meters: 2
Number of Separate Gas Meters: 2
Number of Separate Water Meters: 2
Parcel Number: 5190023009
Postal Code Plus 4: 2904
Zoning: LARD1.5
Source System Name: C2C
$675,000
CRMLS
Listed 2023-12-18
$935,000
CRMLS
Year Built: 1922
Building Features: 2
Common Walls: No Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 102
Levels or Stories: One
Building Total Stories: 1
Structure Type: Commercial/Residential
Year Built Source: Assessor
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.