131 South Boyle Avenue

Los Angeles, CA 90033

$1,650,000
Last Sold Price
15
Beds
2
Baths
4,709 Sq. Ft.
$350 / Sq. Ft.
4,709
Sq. Ft.
$350
per Sq. Ft.

Description

131 S Boyle Ave is a 15-unit true value-add investment opportunity located in Boyle Heights, located just south of E 1st Street with immediate access to the I-5 and I-10 Freeways. The subject property, built in 1887, will be delivered 100% vacant and consists of 15 single occupancy units, 5 units have spaces for a full kitchen. Furthermore, there is a community lobby on the first floor and four communal bathrooms, two on each floor. This investment presents the opportunity to capture a strong market...131 S Boyle Ave is a 15-unit true value-add investment opportunity located in Boyle Heights, located just south of E 1st Street with immediate access to the I-5 and I-10 Freeways. The subject property, built in 1887, will be delivered 100% vacant and consists of 15 single occupancy units, 5 units have spaces for a full kitchen. Furthermore, there is a community lobby on the first floor and four communal bathrooms, two on each floor. This investment presents the opportunity to capture a strong market CAP rate of 6.44% and 8.55 GRM, with the ability to reposition the property with interior renovations immediately at the close of escrow. Buyer can potentially convert driveway to on-site gated parking for 12-15 spaces. High walk score of 90, in close proximity to shopping, nightlife and dining attractions; direct access to the I-5 and I-10 Freeways, as well as the CA-60. Boyle Heights is a fast growing, historic, and vibrant neighborhood located just East of Downtown Los Angeles.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 131 South Boyle Avenue

Zoning
[Q]R4-1-RIO-CUGU
Parcel Number
5174013022
Total Units
15.0
Living Area
4709
Source Living Area
Vendor Enhanced
Area
Boyle Heights (BOYH)
Vacancy Rate
15427
Lot Size Area
10170

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Sold By Marcus & Millichap, Neema Ahadian, DRE #01346750

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LISTING UPDATED: 05/05/2023 09:43 AM

Property Details for 131 South Boyle Avenue

StatusSold
MLS #20-629502
Days on Market51
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1887
Lot Size0.23 AC / 10,170 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Sold By Marcus & Millichap, Neema Ahadian, DRE #01346750

Add your commute

Building Information for 131 South Boyle Avenue

Stories-Residences-Year Built1887Building Size-Lot Size0.23 AC / 10,170 SF

Payment Calculator

$10,783 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,005

Property Taxes

$1,778

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 131 South Boyle Avenue

Community / Development
Community / Development
  • Number Of Units: 15
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartments
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Scheduled
  • Gross Operating Income: $177,413
  • Net Operating Income: $101,649.00
  • Gross Income: $192,840
  • Gross Rent Multiplier: $9.59
  • Total Annual Expense: 75764
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.2335
  • Lot Size Square Feet: 10170
Parking Details
Parking Details
  • Parking Garage: Driveway
  • Total Parking: 12
  • Parking Features: Driveway
Interior Features
Interior Features
  • Cooling Type: Other
  • Heating Type: Other
  • Flooring: Hardwood
  • Equipment: Range/Oven, Other, Dryer, Washer
  • Laundry: Laundry Area
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 09-08-2020
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,015.00
  • Unit Actual Rent: $1,185.00
  • Unit Projected Rent: $9,135.00
  • Like Units: 9
Unit 2 Information
  • Unit Beds: 0
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,145.00
  • Unit Actual Rent: $1,215.00
  • Unit Projected Rent: $6,870.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $255,000.00
  • Assessed Improvement Percent: 35.71
  • Assessed Land Value: $459,000.00
  • Assessed Land Percent: 64.29
  • Assessed Total Value: $714,000.00

Property History for 131 South Boyle Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 131 South Boyle Avenue

Taxable ValueLand$1,029,996Additions$686,664Total$1,716,660
Tax Record2023$21,342 ($1,778 / month)
Home Facts
Total Finished SqFt4,709 SqFtAbove Grade Finished SqFt4,709 SqFtLot Size10,170 SqFtStyleMulti-Family Res (5+ Units)Year Built1887ZoningLAR4CountyLOS ANGELESAPN5174-013-022

Schools near 131 South Boyle Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Second Street Elementary School
PublicK to 6

Extera Public Schools
CharterK to 8

Felicitas And Gonzalo Mendez High
Public9 to 12

Theodore Roosevelt Senior High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the 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. For the avoidance of doubt, 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.