Los Angeles, CA 90033
$1,350,000
Mark Quesada
Broker / Owner
DRE #02101365
Prime Investment Opportunity, this Spanish-style multifamily property has been meticulously maintained by the same ownership for over 30 years and features high vaulted-ceiling units with exceptional light and architectural character. The property presents a strong value-add opportunity with over 56% rental upside, driven by extremely large unit layouts, including select units exceeding 1,000 square feet, allowing for the potential addition of extra bedrooms, conversion to true two-bedroom units, and incorporation of in-unit laundry to significantly increase rental income. There is also additional 4 individual garages and additional space behind garages that lend perfectly to potential multiple ADU's build. Located in Boyle Heights submarket of Los Angeles, the asset is surrounded by major employment centers and lifestyle amenities such as Union Station, Crypto.com Arena, the Arts District, Financial District, USC Keck School of Medicine, Little Tokyo, Chinatown, and Monterey Park Golf Club. Additional upside includes the potential to reduce property taxes through the Mills Act (buyer to verify eligibility), the opportunity to implement RUBS to reduce operating expenses (buyer to verify), and one unit can be delivered vacant at close of escrow, providing immediate repositioning flexibility. Seller financing may potentially be available, subject to mutually agreeable terms.
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$10,146/mo
Estimate only. Not a loan offer, pre-approval, or commitment to lend. Taxes, insurance, and HOA are estimates that may differ from actual figures. Contact a licensed lender for a personalized quote.
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Listed by Matthew Guerra, KW Executive
MLS# AR26014659 · Active
History reflects records reported to the MLS and may be incomplete.