505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
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505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
505 S Chicago St
For Sale

505 S Chicago St

505 S Chicago St, Los Angeles, CA 90033

$1,050,000

The Davis Saadian Group is pleased to offer for sale this five (5) unit multifamily investment opportunity located at 505 S. Chicago Street, in Boyle Heights. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1905 with a square footage of 4,902 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 2+1.5 units, and two (2) 2+1 units. The subject property is 100% occupied and is subject to the City of Los Angeles rent control regulation. The investment boasts spacious floor plans, five (5) on-site parking spaces, and individually metered for gas and electricity. Current gross income is $7,130/month, priced current at a  6+% cap rate and 12x GRM. There’s approximately 45% upside in potential rents. Given the location, attractive local area amenities, and potential to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique premier property in the attractive Boyle Heights submarket that will provide exponential returns.

10
beds

5
baths

4,902 Sq.Ft. LIVING AREA

7,465 Sq.Ft. lot

Davis Saadian

Davis Saadian

Features & Amenities

Interior

  • total bedrooms10
  • Total bathrooms5
  • APPLIANCES Range/Oven, Refrigerator, Freezer, Other

Area & Lot

  • Status For Sale
  • Living Area4,902 Sq.Ft.
  • Lot Area7,465 Sq.Ft.
  • MLS® ID24-434457
  • TypeOther
  • YEAR BUILT1905

Exterior

  • STORIES2
  • parkingPrivate, Other, Garage
  • HEAT TYPEOther
  • AIR CONDITIONINGOther

Financial

  • Sales Price$1,050,000
  • Zoning LARD1.5
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Schedule a Showing

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Thank you for your interest in 505 S Chicago St, Los Angeles, CA 90033. We are reviewing your request and will be in touch shortly!

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