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790 Ferrari Ln

Ontario, CA 91764

1 909 294 2593

kris@theapartmentdealer.com

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9 Units in Boyle Heights

2430 Folsom St, Los Angeles, CA 90033, USA
Sold For$1,250,000$139,000/Per Unit

Description

Property Description

  • 9% Market Cash-On-Cash Return!
  • First Time On Market Since Construction (Only 1 Owner)
  • 1 (2-Bed/1-Bath), 8 (1-Bed/1-Bath) Units
  • Minutes to USC Medical Center
  • Onsite Garage & Open Space Parking
  • 1 Unit to be Delivered Vacant at Close of Escrow
  • 1 Additional Unit Occupied by Onsite Manager

FIRST TIME ON MARKET SINCE INITIAL CONSTRUCTION! We are pleased to exclusively offer for sale this 8 Unit multi-family investment property in the gentrifying Boyle Heights area of the city of Los Angeles. The subject property is comprised of 1(2Bed/1Bath) unit which currently the on-site manager resides in, and an additional 8(1bed/1bath) units. Tenants enjoy on-site garage as well as gated open space parking. The property is separately metered for electricity and gas while the owner pays for water and trash. Tenants enjoy an onsite laundry facility and exceptional access to public transportation, restaurants and retail. Located Minutes from USC Medical center and along the 10 freeway which serves as the major gateway to Downtown Los Angeles, this property is poised for a new investor to take advantage of prevailing market rents and drastically increase the overall cash-flow. With prevailing market rents in place, the subject property would offer a 9+% return on investment. One unit will be delivered vacant at the close of escrow. One additional unit is occupied by an onsite manager although no onsite manager is required for a property of this size. The property offers great curb appeal and has been well maintained by the current owner whose family initially built the property.

  • Address: 2430 Folsom St
  • City: Boyle Heights, Los Angeles
  • State/county: California
  • Zip/Postal Code: 90033
  • Country: United States

Detail

Updated on April 5, 2019 at 4:35 pm

  • Price: Sold For $1,250,000
  • Property Size: 4805 SqFt
  • Land Area: 6999 SqFt
  • Year Built: 1963
  • Property Type: Multi Family
  • Property Status: Just Sold, Sold

Additional details

  • # of Units: 9
  • Unit Mix: 1 (2+1), 8 (1+1)
  • Zoning: LAR3
  • Cap Rate: 3.75%

WalkScore

walkscore88 / Very Walkable more details here

Contact info

Kristopher German
Kristopher German
(909) 294-2593(909) 645-0443
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