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705 S Chicago Street, Los Angeles, CA 90023

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For Sale

$975,000

3,135 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family Home
    Property type

  • 1912
    Year built

  • $311.00
    Price per square foot

Explore this Property

Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. Current GRM of 12.2 and Cap Rate of 5.63%. Pro Forma Cap rate 7.40% All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathrooms. Building square footage of 3,135 and property is 5,719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD. Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
MLS# P1-15332

Courtesy Of Coldwell Banker San Marino

(626) 449-5222

Property Features

  • Cooling
    No A/C
  • Lot Size
    0.13 Acres
  • Sewer
    Public
  • Style
    Other Style
  • Water
    City Water

Map and Directions

Directions to 705 S Chicago Street, Los Angeles, CA 90023

Home seller CENTURY 21 Citrus Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Citrus Realty

(909) 592-8500
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Monthly Payment Breakdown

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Data powered by Attom Data Solutions. Copyright© 2024. Information deemed reliable but not guaranteed.

This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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