705 South Chicago Street
705 South Chicago Street
$975,000
—
3,135
3,135
$311
Active Under Contract
Description
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. Current GRM of 12.2 and Cap Rate of 5.63%. Pro Forma Cap rate 7.40% 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...Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. Current GRM of 12.2 and Cap Rate of 5.63%. Pro Forma Cap rate 7.40% 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. Strong rental market with 20% upside in rents. 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 building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
- Listed by Adam Bray-Ali • DRE #01859026 • Coldwell Banker Realty
Property Details for 705 South Chicago Street
Subdivision Name
Not Applicable
Garage Spaces2.00
Location
LISTING UPDATED: 04/19/2024 09:38 AM
Property Details for 705 South Chicago Street
Status | Active Under Contract |
---|---|
MLS # | P1-15332 |
Days on Market | 195 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Apartment |
Year Built | 1912 |
County | Los Angeles County |
Location
Building Information for 705 South Chicago Street
Building/Complex705 S Chicago StFloor-Stories2Residences-Pet Policy-Year Built1912Building Size-
Payment Calculator
$5,820 per month
The Payment Calculator is for illustrative purposes only.
Property Information for 705 South Chicago Street
Property History for 705 South Chicago Street
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 705 South Chicago Street
Taxable ValueLand$192,301Additions$235,727Total$428,028
Tax Record2023$5,986 ($499 / month)
Home Facts
Total Finished SqFt3,135 SqFtAbove Grade Finished SqFt3,135 SqFtLot Size5,719 SqFtStyleMulti-Family Res (5+ Units)Year Built1912ZoningLARD1.5CountyLOS ANGELESAPN5183-022-027
Schools near 705 South Chicago Street
This home is within Los Angeles Unified School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | K to 6 | |||
Charter - | 6 to 8 | |||
Public - | 9 to 12 | |||
Public - | 9 to 12 |
Rating | School | Distance |
---|---|---|
Soto Street Elementary School PublicK to 6 | ||
Alliance Kory Hunter Middle Charter6 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.
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