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705 S Chicago Street

Los Angeles, CA 90023
  • $1,100,000
  • STATUS: Active
  • ON SITE: 122 Days
  • ID#: P1-6074
UPDATED: 36 min ago
$1,100,000
  • 0
    BEDS
  • 0.13
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 3,135
    SQFT
  • $351
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1912
County:

School Ratings & Info

Description

Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and 5th apartment above a two car garage at rear of property. Photos are of Apartment 705 1/2 in April 2021. 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. Each unit has their own electric and gas meter, tenants pay their own trash fees. Owners pay for water/sewer and landscaping. Strong rental market with 20% upside in rents and additional income options from garage rental. 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 home, built in 1923, is accessed from the backyard area. Boyle Heights is experiencing renewed interest from home buyers and our street has seen a number of owners renovating. The 6th Street Viaduct project promises exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo. Current property manager is available to continue, offering a seamless transition to new ownership.

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Based on information from CRISNet MLS as of 2021-12-07T06:56:28.177. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2021-12-07T06:56:28.177. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
www.cgluxuryhomesla.com/homes/120158835
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705 S Chicago Street Los Angeles, CA 90023

  • Price: $1,100,000
  • Status: Active
  • On Site: 122 Days
  • Updated: 36 min ago
  • ID#: P1-6074
0
Beds
0
Baths
0
½ Baths
0.13
Acres
3,135
SQFT
$351
$/SQFT
1912
Built
Neighborhood:
Not Applicable
County:
Los Angeles
Area:
Boyh - Boyle Heights
Property Description
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and 5th apartment above a two car garage at rear of property. Photos are of Apartment 705 1/2 in April 2021. 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. Each unit has their own electric and gas meter, tenants pay their own trash fees. Owners pay for water/sewer and landscaping. Strong rental market with 20% upside in rents and additional income options from garage rental. 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 home, built in 1923, is accessed from the backyard area. Boyle Heights is experiencing renewed interest from home buyers and our street has seen a number of owners renovating. The 6th Street Viaduct project promises exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo. Current property manager is available to continue, offering a seamless transition to new ownership.
Exterior Features

Entry Level 1 Entry Location Ground Floor Fence YN Yes Fencing Chain Link Levels Two Lot Features Back YardLawnNear Public Transit Lot Size Area 5719.0000 Lot Size Dimensions 60 X 115 Parking Features Garage - Single DoorShared Driveway Parking Total 3.00 Parking YN Yes Road Frontage Type City Street Road Surface Type Paved Roof Asphalt View City Lights View YN Yes

Interior Features

Appliances Gas Range Appliances YN Yes Common Walls No Common Walls Cooling None Cooling YN No Fireplace Features None Fireplace YN No Flooring See Remarks Heating Natural GasWall Furnace Heating YN Yes Interior Features Balcony Laundry Features Washer Hookup Laundry YN Yes

Property Features

Association Fee 0.00 Community Features Suburban Electric Standard Land Lease YN No New Construction YN No Pool Features None Pool Private YN No Property Attached YN No Property Sub Type Apartment Security Features Carbon Monoxide Detector(S)Smoke Detector(S) Senior Community YN No Sewer Sewer Paid Spa Features None Spa YN No Special Listing Conditions Standard Utilities Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Water Source Public Zoning Lard1.5

Listing provided courtesy of Adam Bray-Ali, CA DRE# 01859026, of Coldwell Banker Realty.


Based on information from CRISNet MLS as of 2021-12-07T06:56:28.177. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

The information being provided by the CSMAR MLS is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties the visitor may be interested in purchasing. The data contained herein is copyrighted by CSMAR or one of CSMAR's datashare partners, and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Any property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the CSMAR MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Based on information from the i-Tech MLS as of 2021-12-07T06:56:28.177. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
 
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