$875,000 Price Analysis   ♡   Los Angeles, CA 90023 2 bed 2 bath 3,524 SqFt ($248/SqFt) 5,950SqFt lot. Built 1923 Listed 2023-12-18 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
$275K price update!
MOTIVATED SELLERS. This mixed-use property features a blend of both commercial and residential spaces, making it an attractive prospect for investors seeking a diverse income stream and future growth potential. Boasting a generous lot size of 5, 948 square feet, the property comprises t wo seprate buildingsa 2, 660-square-foot commercial market with a secure five-year lease and a 864-square-foot 2-bedroom/1-bath residence currently on a month-to-month tenancy. The commercial market provides a stable income with a remaining five-year lease, offering investors a reliable return at an attractive 7% cap rate. Meanwhile, the residential unit adds flexibility, allowing for owner occupation, rental or potential conversion opportunities.
This property presents a unique house-hacking opportunity by combining a commercial unit with residential space, allowing owners to live in one while generating income from the other, effectively offsetting living expenses. Priced at $500 per square foot for the residential component, this property is positioned competitively in the market. Its strategic location, with easy access to major transportation routes and proximity to downtown LA, further enhances its appeal. This investment opportunity not provides immediate returns but also offers a diversified portfolio with long-term appreciation potential. Don't miss the chance to explore the possibilities of this mixed-use gem in Boyle Heights. Contact us today to seize this unique investment 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 #PW23227491 from CRMLS
Lot Size Acres: 0.1365932
Lot Size Source: Assessor
Lot Size Square Feet: 5950
Bedrooms in Unit-1: 2
Total Bathrooms in Unit-1: 1
Total Bathrooms in Unit-2: 1
County: Los Angeles
Cap Rate: 4.91
Other Expense: 250.00
Source Property Type: Residential Income
Insurance Expense: 2291.00
Area: BOYH - Boyle Heights
Source Neighborhood: BOYH - Boyle Heights
Number of Separate Electric Meters: 2
Number of Separate Gas Meters: 2
Number of Separate Water Meters: 2
Parcel Number: 5190023008
Postal Code Plus 4: 2904
Zoning: LARD1.5
Source System Name: C2C
$875,000
CRMLS
Listed 2023-12-18
$1,150,000
CRMLS
Year Built: 1923
Building Features: 2
Common Walls: No Common Walls
Entry Level: 1
Entry Location: 1
Property Age: 101
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.