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Listed by Anthony P. Walker • Buckingham Investments, Inc
$2,595,000
Est. payment /mo
6,578 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 6,578 sqft
Price per Sqft $394
MLS Listing ID SB-26127927
Style Contemporary
Year Built 2017
Lot Size 8,939 Sqft
Property Sub-Type Apartment
Source California Regional Multiple Listing Service (CRMLS)
Property Description
Huge newer construction Boyle Heights single parcel 6 unit campus comprised of (3) Duplexes with spacious 3 Bed, 2 Bath Units + previously RTI plans for (2) 1 Bed “Tiny Home” ADUs. Constructed in 2017, the property is exempt from LA RSO and CA Statewide AB1482 rent control. Luxury newer construction finishes and features include in-unit laundry, stainless appliances with microwaves, dishwashers, and fridges, recessed
overhead lighting, central AC, vaulted ceilings and balconies in upper units, vinyl plank flooring, master suites, fire sprinklers, modern open concept floor plans, and new landscaping. All utilities are separately metered leaving zero utility expenses for the owner. High yield, low expense property at a true in-place cap rate of 6.2% on proven actuals and a GRM of 11.49 plus upside to 9.7X GRM and a 7.7% cap rate after ADU construction. Very well parked with 10 parking spaces plus additional driveway parking.
Conveniently located in Boyle Heights just 2 miles to Downtown LA Arts District across the 6th Street Bridge. Walk to LA Metro Gold Line for direct access to Metro Center. Directly across the street from Stevenson Middle School. 3.5 Miles to Keck USC Hospital. 4 Miles to Cal State LA. 6 Miles to Dodger Stadium. 7.5 Miles to USC. Close access to the 5, 10, 60, and 710 freeways.
overhead lighting, central AC, vaulted ceilings and balconies in upper units, vinyl plank flooring, master suites, fire sprinklers, modern open concept floor plans, and new landscaping. All utilities are separately metered leaving zero utility expenses for the owner. High yield, low expense property at a true in-place cap rate of 6.2% on proven actuals and a GRM of 11.49 plus upside to 9.7X GRM and a 7.7% cap rate after ADU construction. Very well parked with 10 parking spaces plus additional driveway parking.
Conveniently located in Boyle Heights just 2 miles to Downtown LA Arts District across the 6th Street Bridge. Walk to LA Metro Gold Line for direct access to Metro Center. Directly across the street from Stevenson Middle School. 3.5 Miles to Keck USC Hospital. 4 Miles to Cal State LA. 6 Miles to Dodger Stadium. 7.5 Miles to USC. Close access to the 5, 10, 60, and 710 freeways.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Interior
Heating Central
Flooring Tile, Vinyl
Fireplaces Type None
Laundry In Closet, Inside
Exterior
Parking Features Driveway
Pool None
Community Features Urban
View Y/N No
View None
Building
Lot Description Rectangular Lot
Sewer Public Sewer
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John R Thompson
Broker/Owner | License ID: 01200900
Broker/Owner License ID: 01200900