1612 Pennsylvania AVE, Los Angeles, CA 90033
1612 Pennsylvania AVE, Los Angeles, CA 90033
1612 Pennsylvania AVE, Los Angeles, CA 90033
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Lucio Real Estate Group

Lucio Real Estate Group

+1(805) 512-0065
$1,175,000
Est. payment /mo
7,487 Sqft Lot
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

MLS Listing ID CV26171813

HOA Y/N No

Year Built 1972

Lot Size 7,487 Sqft

Property Sub-Type Quadruplex

Property Description

Just Listed! Outstanding value-add opportunity to acquire a 4-unit multi-family property in Boyle Heights, offering a rare combination of immediate vacancy and strong day-one cash returns. The property is currently operating at a 6.28% CAP Rate and 11.57 GRM, with three of the four units to be delivered vacant, allowing investors to lease at current market rents from the outset and maximize thier cash flow.

Built in the 1970s, the property features a highly desirable and diverse unit mix consisting of a detached single-story 2-Bedroom/1-Bath cottage, one 2-Bedroom/2-Bath unit with a den, and two 2-Bedroom/1-Bath units, totaling approximately 3,385 rentable square feet on a 7,486 sq. ft. lot. Residents enjoy the privacy of a gated entry along with onsite garage parking, while ownership benefits from an efficient operating structure with tenants paying ALL utilities, including electricity, gas, trash and water!

Adding to the property's long-term value is the potential to convert the standalone garage into an ADU (buyer to verify), creating an additional opportunity to increase future income. Conveniently located near the I-10, I-5, and 101 Freeways, the property offers excellent access to Downtown Los Angeles, major employment centers, shopping, dining, and public transportation.

With three vacant units, excellent cash-on-cash return potential once leased at market rents, and additional ADU upside, this is a compelling opportunity for investors seeking immediate value creation in one of Los Angeles' strongest rental markets.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LARD1.5

Interior

Cooling Wall/Window Unit(s)

Fireplaces Type None

Fireplace No

Laundry None

Exterior

Parking Features Assigned, Paved, Garage Faces Rear

Garage Spaces 2.0

Garage Description 2.0

Fence Block

Pool None

Community Features Street Lights, Sidewalks

Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available

View Y/N No

View None

Roof Type Shingle

Total Parking Spaces 4

Private Pool No

Building

Lot Description 0-1 Unit/Acre

Story 2

Entry Level One,Two

Sewer Public Sewer

Water Public

Level or Stories One, Two

New Construction No

Others

Senior Community No

Tax ID 5174024035

Acceptable Financing Cash to New Loan

Listing Terms Cash to New Loan

Special Listing Condition Standard

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Listed by Kristopher German RE/MAX 2000 REALTY 909-645-0443, DRE #01800021

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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1612 Pennsylvania AVE

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