$1,500,000 Price Analysis   ♡   Los Angeles, CA 90033 14 bed 8 bath 8,578 SqFt ($174/SqFt) 8,641SqFt lot. Built 1964 Listed 2024-04-26, Taxes $4,238 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
We are pleased to present 2500 E 1st St
A mixed-use property situated in the heart of the culturally rch Boyle Heights district, renowned for its diverse community and bustling atmosphere. Built in 1964, the 8, 578 square foot property features a standalone corner retail unit complemented by an 8-unit apartment complex at the rear. The apartment consists of three (3) 1-bedroom and five (5) 2-bedroom units. With current rents offering significant room for growth, savvy investors can capitalize on a approximately 62% upside potential in rental income as units become vacant. Spanning across 8, 641 square feet of land, the property is commercially zoned with a tier 4 TOC bonus, permitting the development of 40 units or more through ED-1, further enhancing its investment appeal.
Strategically positioned one block away from the E Line Soto Station and adjacent Los Lirios Apartments which boasts 2, 400 square feet of ground-floor commercial space, this property offers unparalleled convenience and accessibility. Furthermore, with a brand-new four-story, 51-unit affordable housing complex scheduled for construction on the same block as the subject property, the area is experiencing a surge in development activity, underscoring its status as a burgeoning investment hotspot. With its proximity to downtown Los Angeles and seamless access to public transportation, Boyle Heights offers residents and businesses alike an unparalleled urban lifestyle. With its rich cultural heritage, diverse community and thriving commercial landscape, Boyle Heights presents a compelling investment opportunity in one of Los Angeles' most dynamic and sought-after neighborhoods.
Presented by Sevak Keshishian at
Marcus & Millichap.
Property MLS #24-384551 from TheMLSCLAW
Full Bathrooms: 8
Laundry Features: Community
Heating Features: Wall
Lot Size Acres: 0.1983701
Lot Size Source: Assessor
Lot Size Square Feet: 8641
Parking Total: 7
Calculated Total Monthly Association Fees: 0
Number of Units: 9
Unit Features: 1 BedsTotal: 2, 1 BathsTotal: 1, 1 SquareFeet: 2200, 2 BedsTotal: 2, 2 BathsTotal: 1, 2 SquareFeet: 2200, 3 BedsTotal: 2, 3 BathsTotal: 1, 3 SquareFeet: 2200, 4 BedsTotal: 1, 4 BathsTotal: 1, 4 SquareFeet: 1850, 5 BedsTotal: 1, 5 BathsTotal: 1, 5 SquareFeet: 1850, 6 BedsTotal: 1, 6 BathsTotal: 1, 6 SquareFeet: 1850, 7 BedsTotal: 2, 7 BathsTotal: 1, 7 SquareFeet: 2200, 8 BedsTotal: 2, 8 BathsTotal: 1, 8 SquareFeet: 2200, 9 SquareFeet: 3200
County: Los Angeles
Cap Rate: 5.5
Directions: From downtown LA, take US-101 S. Exit onto Soto St via Exit 2B. Turn left onto E 1st St. Property will be on the right hand side on the corner of 1st St & Matthews.
Source Property Type: Residential Income
Area: Boyle Heights
Source Neighborhood: Boyle Heights
Parcel Number: 5180-006-001
Postal Code Plus 4: 3504
Zoning: LAC2
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $164,315 + $70,434 $234,749 | $4,238 |
| 2021 | $161,094 + $69,053 $230,147 | $4,142 |
| 2020 | $159,443 + $68,345 $227,788 | $4,161 |
| 2019 | $156,317 + $67,005 $223,322 | $4,050 |
| 2018 | $153,252 + $65,692 $218,944 | $3,857 |
| 2017 | $150,248 + $64,404 $214,652 | $3,750 |
| 2016 | $147,302 + $63,142 $210,444 | $3,569 |
| 2015 | $145,090 + $62,194 $207,284 | $3,531 |
| 2014 | $142,248 + $60,976 $203,224 | $3,579 |
| 2013 | $141,606 + $60,701 $202,307 | $3,569 |
| 2012 | $138,830 + $59,511 $198,341 | $3,613 |
| 2010 | $136,108 + $58,345 $194,453 | $3,503 |
| 2009 | $135,412 + $58,047 $193,459 | $3,389 |
| 2009 | $135,091 + $57,909 $193,000 | $3,389 |
| 2008 | $132,757 + $56,909 $189,666 | $3,286 |
| 2007 | $130,154 + $55,794 $185,948 | $3,153 |
$1,500,000
TheMLSCLAW
Year Built: 1964
Levels: Multi Levels
Living Area Source: Vendor Enhanced
Property Age: 60
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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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.