505 S Chicago Street, Los Angeles, CA 90033 - Berkshire Hathaway HomeServices California Properties

505 S Chicago Street, Los Angeles, CA 90033

$1,000,000 Approx. USD 10 beds, 5 baths
4,902 sqft

Listing Agent


Davis Saadian | davis@saadiangroup.com
Lic#: 01921748
Broker: Courtesy of Keller Williams Hollywood Hills

Agent Remarks

We are pleased to offer for sale this five (5) unit multifamily investment opportunity located at 505 S. Chicago Street, in Boyle Heights. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1905 with a square footage of 4,902 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 2+1.5 units, and two (2) 2+1 units. The subject property is 100% occupied and is subject to the City of Los Angeles rent control regulation. The investment boasts spacious floor plans, five (5) on-site parking spaces, and individually metered for gas and electricity. Current gross income is $7,130/month, priced at a current at a 6.5% cap rate and 11.5x GRM. There's approximately 50% upside in potential rents. Given the location, attractive local area amenities, and potential to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique premier property in the attractive Boyle Heights submarket that will provide exponential returns.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# 25509003
Price: $1,000,000
Beds: 10
Baths: 5
Built in 1905
4,902 sqft
2 stories
0.17 acres
Lot size: 0.1714
County: Los Angeles
Zoning: LARD1.5
Appliances: Refrigerator
MLS area: BOYH - Boyle Heights

Last Updated: 4/23/2025

 Days On Market (DOM): 56

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This listing belongs to the BOYH - Boyle Heights MLS area

Lat/Long: 34.040108, -118.215648.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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