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Listed by Ken Wong • STIGLER MORTGAGE
$999,000
Est. payment /mo
2,537 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,537 sqft
Price per Sqft $393
MLS Listing ID CV-25264445
Year Built 1922
Lot Size 6,077 Sqft
Property Sub-Type Triplex
Source California Regional Multiple Listing Service (CRMLS)
Property Description
CAP RATE 5.5%. GRM 14.28. New owner can use the laundary room to increase the CAP RATE to over 6%. The only GEM in the area close to East LA and Downtown with existing cap rate over 5%, not in city terrace with low rental return!
Prime development opportunity — positioned on a high-visibility corridor with strong traffic counts and long-term growth potential.
This property is a rare R3 land which offers an excellent opportunity for developers, builders, and value-add investors seeking to capitalize on a well-located parcel with flexible future use (buyer to verify zoning, density, and permitted uses with the city). The land itself already worth over 900K and planned for multi-familiy. Also, it starts earning rental income from day one with this fully tenant-occupied property while you are waiting for plan check or you want to keep it! Exceptional income-producing property priced below market for a quick sale. This fully tenant-occupied asset offers immediate, stable rental income of approximately $5,600/month All lease are month-to-month lease, making it an ideal opportunity for investors or owner-occupants seeking strong returns. Rent are close to the market but still have room to increase. The property also has a laundry room for extra income. Great value-add opportunity and projected rent can be over $6,700/month. Tenants will be transferred.
The property has been professionally managed and well maintained over the past 5 years, with long-term tenants who have consistently paid on time for over a decade. Rents are near market value, with built-in potential for future increases.
Property Features:
Front home (built in 1923): 3 bedrooms, 1 bathroom
Rear duplex: Two units, each with 2 bedrooms and 1 bathroom
Spacious backyard with convenient alley access
Designated parking for all units
Updated windows and newer water heaters throughout
On-site laundry room offering additional income potential
Recent landscaping improvements including new soil and gardening upgrades
Prime Location:
Convenient access to major freeways including the 5, 10, 60, 710, and 110. Easy commute to downtown via the newly developed 6th Street Bridge. The surrounding area is experiencing strong growth, with multiple mixed-use developments underway.
Additional Notes:
Property is being sold as-is. Information is deemed reliable but not guaranteed. Buyers are encouraged to conduct their own due diligence and consult with professionals.
Prime development opportunity — positioned on a high-visibility corridor with strong traffic counts and long-term growth potential.
This property is a rare R3 land which offers an excellent opportunity for developers, builders, and value-add investors seeking to capitalize on a well-located parcel with flexible future use (buyer to verify zoning, density, and permitted uses with the city). The land itself already worth over 900K and planned for multi-familiy. Also, it starts earning rental income from day one with this fully tenant-occupied property while you are waiting for plan check or you want to keep it! Exceptional income-producing property priced below market for a quick sale. This fully tenant-occupied asset offers immediate, stable rental income of approximately $5,600/month All lease are month-to-month lease, making it an ideal opportunity for investors or owner-occupants seeking strong returns. Rent are close to the market but still have room to increase. The property also has a laundry room for extra income. Great value-add opportunity and projected rent can be over $6,700/month. Tenants will be transferred.
The property has been professionally managed and well maintained over the past 5 years, with long-term tenants who have consistently paid on time for over a decade. Rents are near market value, with built-in potential for future increases.
Property Features:
Front home (built in 1923): 3 bedrooms, 1 bathroom
Rear duplex: Two units, each with 2 bedrooms and 1 bathroom
Spacious backyard with convenient alley access
Designated parking for all units
Updated windows and newer water heaters throughout
On-site laundry room offering additional income potential
Recent landscaping improvements including new soil and gardening upgrades
Prime Location:
Convenient access to major freeways including the 5, 10, 60, 710, and 110. Easy commute to downtown via the newly developed 6th Street Bridge. The surrounding area is experiencing strong growth, with multiple mixed-use developments underway.
Additional Notes:
Property is being sold as-is. Information is deemed reliable but not guaranteed. Buyers are encouraged to conduct their own due diligence and consult with professionals.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning LAC1.5
Interior
Heating Wall Furnace
Flooring Tile, Vinyl
Fireplaces Type None
Laundry Common Area, Dryer Included, Washer Included
Exterior
Pool None
Community Features Curbs, Sidewalks, Street Lights, Urban
Utilities Available Sewer Connected, Water Connected, Electricity Connected, Natural Gas Connected, Phone Connected
Building
Lot Description Up Slope from Street
Sewer Public Sewer
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