Property Detail
Description
Presenting for sale: A Multi-Family 40 unit newly remodeled residential community located in Historic Boyle Heights. This property has 38 studios and 2 one bedrooms. 17 units have been renovated with new flooring, kitchenettes, and sleek finishes. Tenants have access to the amenities of on-site laundry, high speed Wi-Fi internet, and proximity to the historic pedestrian shopping mall of Cesar Chavez Avenue. The new video surveillance cameras are great for security and the upgraded electrical system brings these rentals into the modern era! This 40-unit 1920's residential hotel building in historic LA’s Boyle Heights consists of 2 one-bedrooms and 38 studios. This asset was built in 1929 with a Certificate of Occupancy that reads “2 Story, Class D, 40Rooms, 1 Apt., Hotel”. This property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO) and may only be used for long term residential occupancy. The property is registered as 40 units with the Los Angeles Housing Department (LAHD). The property was newly renovated in 2025 with new kitchenettes, electrical, flooring, paint, and more. This building is priced to sell at a 6.51% cap rate and 8.52 GRM on current income. There is 25.2% upside opportunity on rents for a potential 9.47% cap rate and 6.81 GRM at stabilization.
Map Location
Listing provided courtesy of Logan Altman of Altman Apartments LLC. Last updated 2025-04-26 08:11:50.000000. Listing information © 2025 CRMLS.
John Collins
DRE# 01948188
888 Prospect St. Suite 140
La Jolla, CA 92037
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858.252.0200
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Address
888 Prospect St. Suite 140 La Jolla CA 92037
Coldwell Banker Realty, CalBRE# 00616212
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