505 S Chicago ST, Los Angeles, CA 90033
505 S Chicago ST, Los Angeles, CA 90033
505 S Chicago ST, Los Angeles, CA 90033
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Lucio Real Estate Group

Lucio Real Estate Group

+1(805) 512-0065
$995,000
Est. payment /mo
10 Beds
5 Baths
4,902 SqFt
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Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 4,902 sqft

Price per Sqft $202

MLS Listing ID 26849701

Bedrooms 10

HOA Y/N No

Year Built 1905

Lot Size 7,466 Sqft

Property Description

We are pleased to present 505 S. Chicago Street, a five (5) unit multifamily investment opportunity in the heart of Boyle Heights. Comprised of two separate two-story structures, this wood-frame and stucco building sits on a raised foundation and offers 4,902 SF of living space on a 7,500 SF lot. Originally built in 1905, the property has been reinforced and upgraded to comply with the latest city codes and regulations, giving a new owner a well-maintained asset with lasting character. The building features a strong unit mix of three 2-bed / 1.5-bath units and two 2-bed / 1-bath units, all with spacious floor plans. The property is 100% occupied and subject to the City of Los Angeles Rent Stabilization Ordinance. Additional features include five on-site parking spaces and individual gas and electric metering, keeping operating costs low for ownership. Current gross income is $7,642 per month, priced at a 7.0% cap rate and 10.8x GRM, with approximately 50% upside in potential rents. With its prime location, attractive local amenities, and significant room to grow rental income, this is a rare opportunity to acquire a premier, income-producing asset in one of LA's most dynamic and appreciating submarkets.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LARD1.5

Interior

Fireplace No

Appliance Refrigerator, Dryer, Washer

Exterior

Parking Features Private

Total Parking Spaces 5

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5183019014

Special Listing Condition Standard

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Listed by Davis Saadian Keller Williams Hollywood Hills #01921748

Nearby Locations

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Lucio Real Estate Group
Lucio Real Estate Group

Broker Associate | License ID: 01893011

+1(805) 512-0065

www.LucioRealEstate.com

1000 Town Center Dr #300, Oxnard, CA 93036, USA

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505 S Chicago ST

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