2500 1st Street

Los Angeles, CA 90033

$1,500,000
Price
14
Beds
8
Baths
8,578 Sq. Ft.
$175 / Sq. Ft.
8,578
Sq. Ft.
$175
per Sq. Ft.

Description

We are pleased to present 2500 E 1st St, a mixed-use property situated in the heart of the culturally rich Boyle Heights district, renowned for its diverse community and bustling atmosphere. Built in 1964, the 8,578 square foot property features a standalone corner retail unit complemented by an 8-unit apartment complex at the rear. The apartment consists of three (3) 1-bedroom and five (5) 2-bedroom units. With current rents offering significant room for growth, savvy investors can capitalize on...We are pleased to present 2500 E 1st St, a mixed-use property situated in the heart of the culturally rich Boyle Heights district, renowned for its diverse community and bustling atmosphere. Built in 1964, the 8,578 square foot property features a standalone corner retail unit complemented by an 8-unit apartment complex at the rear. The apartment consists of three (3) 1-bedroom and five (5) 2-bedroom units. With current rents offering significant room for growth, savvy investors can capitalize on a approximately 62% upside potential in rental income as units become vacant. Spanning across 8,641 square feet of land, the property is commercially zoned with a tier 4 TOC bonus, permitting the development of 40 units or more through ED-1, further enhancing its investment appeal. Strategically positioned just one block away from the E Line Soto Station & adjacent Los Lirios Apartments which boasts 2,400 square feet of ground-floor commercial space, this property offers unparalleled convenience and accessibility. Furthermore, with a brand-new four-story, 51-unit affordable housing complex scheduled for construction on the same block as the subject property, the area is experiencing a surge in development activity, underscoring its status as a burgeoning investment hotspot. With its proximity to downtown Los Angeles and seamless access to public transportation, Boyle Heights offers residents and businesses alike an unparalleled urban lifestyle. With its rich cultural heritage, diverse community, and thriving commercial landscape, Boyle Heights presents a compelling investment opportunity in one of Los Angeles' most dynamic and sought-after neighborhoods.
  1. Listed by Sevak Keshishian • DRE #01887505 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 2500 1st Street

Zoning
LAC2
Parcel Number
5180006001
Total Units
9.0
Living Area
8578
Source Living Area
Vendor Enhanced
Area
Boyle Heights (BOYH)
Vacancy Rate
0
Lot Size Area
8641

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505
Add your commute
LISTING UPDATED: 05/04/2024 12:01 AM

Property Details for 2500 1st Street

StatusActive
MLS #24-384551
Days on Market12
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1964
Lot Size0.20 AC / 8,641 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Sevak Keshishian, DRE #01887505
Add your commute

Building Information for 2500 1st Street

Stories2Residences-Year Built1964Building Size-Lot Size0.20 AC / 8,641 SF

Payment Calculator

$8,552 per month

30 year fixed, 7.25% Interest

Principal and Interest

$8,186

Property Taxes

$366

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2500 1st Street

Community / Development
Community / Development
  • Number Of Units: 9
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 2
  • Number Of Buildings: 2
  • Type Of Units: Mixed
Contract Info
Contract Info
  • Probate: No
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $141,810
  • Net Operating Income: $82,542.00
  • Gross Income: $146,196
  • Cap Rate: 5.50%
  • Gross Rent Multiplier: $10.26
  • Vacancy Allow Percent: 3.00%
  • Total Annual Expense: 59748
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1979
  • Lot Size Square Feet: 8641
  • Lot Description: 5 + Lots
Parking Details
Parking Details
  • Parking Garage: Covered Parking, Parking Space
  • Total Parking: 7
  • Parking Features: Covered, Parking Space
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling: Wall/Window Unit(s)
  • Cooling Type: Wall/Window
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
  • Laundry: Community
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 04-26-2024
  • Rent Control: Yes
  • Rent Control: 88
  • Tenant Pays: Electricity, Gas
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,872.00
  • Unit Actual Rent: $1,872.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,747.00
  • Unit Actual Rent: $1,747.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,295.00
  • Unit Actual Rent: $1,295.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 4 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $971.00
  • Unit Actual Rent: $971.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 5 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $992.00
  • Unit Actual Rent: $992.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 6 Information
  • Unit Beds: 1
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,055.00
  • Unit Actual Rent: $1,055.00
  • Unit Projected Rent: $1,850.00
  • Like Units: 1
Unit 7 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,087.00
  • Unit Actual Rent: $1,087.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 8 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,264.00
  • Unit Actual Rent: $1,264.00
  • Unit Projected Rent: $2,200.00
  • Like Units: 1
Unit 9 Information
  • Unit Beds: 0
  • Unit Baths: 0
  • Unit Furnished: No
  • Unit Rent: $1,900.00
  • Unit Actual Rent: $1,900.00
  • Unit Projected Rent: $3,200.00
  • Like Units: 1
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111, 2112, 2113, 2114
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $167,601.00
  • Assessed Improvement Percent: 70.0
  • Assessed Land Value: $71,842.00
  • Assessed Land Percent: 30
  • Assessed Total Value: $239,443.00

Property History for 2500 1st Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 2500 1st Street

Taxable ValueLand$71,842Additions$167,601Total$239,443
Tax Record2023$4,388 ($366 / month)
Home Facts
Total Finished SqFt8,578 SqFtAbove Grade Finished SqFt8,578 SqFtStories1Lot Size8,641 SqFtStyleOffice BuildingYear Built1964ZoningLAC2CountyLOS ANGELESAPN5180-006-001

Schools near 2500 1st Street

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
Breed Street Elementary School
PublicK to 6

Extera Public Schools
CharterK 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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Similar Sold Homes

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2500 1st Street is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on April 26, 2024 by Marcus & Millichap, it's currently listed at $1,500,000. This listing's school district is Los Angeles Unified School District. Nearby schools include Breed Street Elementary School, Extera Public Schools and Theodore Roosevelt Senior High. 2500 1st Street is a 14-bed, 8-bath, 8,578 sqft multi-family home built in 1964.

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, Sevak Keshishian, DRE #01887505

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.