1611 East Cesar E Chavez Avenue

Los Angeles, CA 90033

$1,750,000
Price
3
Beds
1
Bath
6,156 Sq. Ft.
$284 / Sq. Ft.
6,156
Sq. Ft.
$284
per Sq. Ft.

Description

An excellent chance awaits to invest in an 8-unit property comprising 2 storefronts and 6 apartments, each offering consistent cash flow and promising growth prospects. Additionally, the property features 5 parking spots - 4 uncovered and 1 covered. Situated close to White Memorial Hospital, USC Health Services, Dodger Stadium, and Chinatown, this property benefits from steady drive-by traffic for its storefront units. Seize this opportunity for immediate cash flow, as it's expected to be snapped...An excellent chance awaits to invest in an 8-unit property comprising 2 storefronts and 6 apartments, each offering consistent cash flow and promising growth prospects. Additionally, the property features 5 parking spots - 4 uncovered and 1 covered. Situated close to White Memorial Hospital, USC Health Services, Dodger Stadium, and Chinatown, this property benefits from steady drive-by traffic for its storefront units. Seize this opportunity for immediate cash flow, as it's expected to be snapped up quickly. Monthly Pro Forma Rent $15,000, with a 7.97% Pro Forma Cap rate.
  1. Listed by Dan Stueve • DRE #01936133 • Brokerage DRE #01342342 • Equity Union
  2. Listed by Robert Siegmeth • DRE #01105625 • Equity Union

Property Details for 1611 East Cesar E Chavez Avenue

Zoning
LAC2
Cross Streets
Echandia Street
Parcel Number
5174010033
Total Units
8.0
Living Area
6156
Source Living Area
Vendor Enhanced
Area
Boyle Heights (BOYH)
Vacancy Rate
0

Location

Listing Courtesy of Equity Union, Dan Stueve, DRE #01936133; Equity Union, Robert Siegmeth, DRE #01105625
Add your commute
LISTING UPDATED: 04/17/2024 12:01 AM

Property Details for 1611 East Cesar E Chavez Avenue

StatusActive
MLS #24-368707
Days on Market25
Taxes$21,875 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1922
Lot Size0.17 AC / 7,559 SF
CountyLos Angeles County

Location

Listing Courtesy of Equity Union, Dan Stueve, DRE #01936133; Equity Union, Robert Siegmeth, DRE #01105625
Add your commute

Building Information for 1611 East Cesar E Chavez Avenue

Stories2Residences-Year Built1922Building Size-Lot Size0.17 AC / 7,559 SF

Payment Calculator

$11,373 per month

30 year fixed, 7.25% Interest

Principal and Interest

$9,550

Property Taxes

$1,823

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1611 East Cesar E Chavez Avenue

Community / Development
Community / Development
  • Tax Mello Roos: No
  • Number Of Units: 8
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Mixed Use
  • Security Features: Smoke Detector, Window Bars, Carbon Monoxide Detector(s)
  • Water: Public
  • Sewer: In Street
  • Water Heaters: Yes
  • Water District: Los Angeles DWP
Contract Info
Contract Info
  • Probate: No
  • Financing: Cash, Cash To New Loan
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $141,720
  • Net Operating Income: $101,125.00
  • Gross Income: $141,720
  • Cap Rate: 5.78%
  • Gross Rent Multiplier: $12.00
  • Vacancy Allow Dollar: $7,086.00
  • Vacancy Allow Percent: 5.00%
  • Owner Pays: Electricity, Gas, Water
  • Total Annual Expense: 40595
  • Expense Operating Percent: $29.00
Land / Lot Info
Land / Lot Info
  • Alley: No
  • Paved: Yes
  • Lot Acreage: 0.1735
  • Lot Size Square Feet: 7559
  • Lot Features: Rectangular Lot, Utilities - Overhead
  • Lot Description: Lot Shape-Rectangular, Lot-Level/Flat, Single Lot, Sidewalks, Street Paved, Utilities - Overhead, Walk Street
  • Lot Location: City
Parking Details
Parking Details
  • Parking Garage: Uncovered, Driveway - Concrete
  • Total Parking: 6
  • Open Other Spaces Total: 6
  • Parking Features: Uncovered, Concrete
Interior Features
Interior Features
  • Levels: Two
  • Cooling: None
  • Cooling Type: None
  • Heating: Floor Furnace
  • Heating Type: Floor Furnace
  • Flooring: Laminate
  • Equipment: Range/Oven, Garbage Disposal
  • Common Walls: Attached
  • TV Services: Cable TV
Exterior Features
Exterior Features
  • Pool: No
  • Private Pool: No
  • Pool Description: None
  • Pool Features: None
  • Spa: No
  • Spa: None
  • Roof: Flat
  • New Construction: No
  • Construction Materials: Brick, Wood Siding
  • Exterior Construction: Brick, Wood Siding
  • Foundation Details: Slab
  • Other Structures: Shed(s)
Lease Terms
Lease Terms
  • Entry Date: 04-09-2024
  • Listing Terms: Cash, Cash To New Loan
  • Rent Control: Yes
Unit Details
Unit 1 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $2,350.00
  • Unit Actual Rent: $56,400.00
  • Unit Projected Rent: $56,400.00
  • Like Units: 2
Unit 2 Information
  • Unit Beds: 8
  • Unit Baths: 6
  • Unit Furnished: No
  • Unit Rent: $1,185.00
  • Unit Actual Rent: $85,320.00
  • Unit Projected Rent: $85,320.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107
  • Number of Electric Meters: 8
  • Number of Gas Meters: 8
  • Number Water Meters: 8
Tax and Assessed Info
Tax and Assessed Info
  • Tax Percent: 1.25%
  • Assessed Improvement Value: $525,402.00
  • Assessed Improvement Percent: 63.49
  • Assessed Land Value: $302,101.00
  • Assessed Land Percent: 36.51
  • Assessed Total Value: $827,503.00
  • Private Transfer Taxes: No

Property History for 1611 East Cesar E Chavez 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 1611 East Cesar E Chavez Avenue

Taxable ValueLand$302,101Additions$525,402Total$827,503
Tax Record2023$10,829 ($902 / month)
Home Facts
Total Finished SqFt6,156 SqFtAbove Grade Finished SqFt6,156 SqFtStories1Lot Size7,557 SqFtStyleOffice BuildingYear Built1922ZoningLAC2CountyLOS ANGELESAPN5174-010-033

Schools near 1611 East Cesar E Chavez Avenue

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Bridge Street Elementary School
PublicK to 5

Hollenbeck Middle School
Public6 to 8

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez 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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1611 East Cesar E Chavez Avenue is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on April 9, 2024 by Equity Union, it's currently listed at $1,750,000. It has been on the market for a total of 25 days and was last sold on August 16, 2005. This listing's school district is Los Angeles Unified School District. Nearby schools include Bridge Street Elementary School, Hollenbeck Middle School and Theodore Roosevelt Senior High. 1611 East Cesar E Chavez Avenue is a 3-bed, 1-bath, 6,156 sqft multi-family home built in 1922.

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 Equity Union, Dan Stueve, DRE #01936133; Equity Union, Robert Siegmeth, DRE #01105625

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.