445 S Chicago Street

Los Angeles, CA 90033

  • 6 Bed(s)
  • 0 Bath(s)
  • 5,576 Sqft
  • 7530
    Sqft(Lot)
$1,399,000

Description

Huge upside!! 10.02% market cap rate and 8.15 market grm. seller financing available. welcome to 445 s chicago st., an exceptional 6-unit apartment complex located in the culturally vibrant and revitalizing boyle heights neighborhood of los angeles. comprising two separate buildings, this well-maintained property offers a unique blend of spacious units, modern amenities, and significant upside potentialan excellent investment opportunity offered below replacement cost, making it particularly attractive for savvy investors and owner-users seeking long-term financial growth.the property's two-building layout provides flexibility and privacy for tenants. the front building features four units, with two on the top floor and two on the bottom, each equipped with private porches or patios that add desirable outdoor space. the rear building houses two additional large 1-bedroom, 1-bath units, providing extra privacy within the property layout. all six units are spacious 1-bedroom, 1-bath layouts, with four units featuring additional dens that offer versatile living space. the property currently has one vacant unit that has been recently renovated to include in-unit amenities such as a washer/dryer, dishwasher, and wall-mounted air conditioner, increasing its appeal for prospective tenants. the remaining five units are occupied, providing immediate income stability (please do not disturb tenants). five off-street parking spaces serve the six units, adding a valuable amenity in this high-demand area. with projected market rents supporting a 10%+ cap rate and an impressive 8.15 gross rent multiplier (grm), the property represents a prime opportunity for substantial income growth and long-term appreciation.additionally, the property is located in a tier 3 transit-oriented communities (toc) zone, allowing the possibility to increase the bedroom count within the existing units without the requirement to provide additional parkingan attractive advantage for future development potential (buyer to verify).situated in boyle heights, this property benefits from proximity to the arts district and downtown los angeles, providing residents with seamless access to top dining, cultural, and entertainment venues. the recently completed 6th street bridge enhances connectivity, making it easier than ever for residents to commute and enjoy the neighboring arts district. boyle heights is in the midst of an exciting revitalization, adding further value to the property's future appreciation potential.boyle heights is celebrated for its strong sense of community, rich cultural heritage, and diverse dining scene. residents enjoy easy access to popular arts district restaurants, such as bestia, bavel, damian, yangban, and camphor, all of which contribute to the area's thriving culinary scene. the property's central location also offers excellent public transit and major freeway access, making it especially attractive to tenants seeking both convenience and community.this property is being sold at a price below replacement cost, presenting an immediate value advantage for investors and owner-users. the combination of high income potential, with a 10%+ cap rate and 8.15 grm at market rents, and its desirable unit mix with modern amenities make this an excellent opportunity. with one vacant unit and an advantageous location, this property is ideal for owner-users looking to capture immediate income and long-term appreciation while residing in a dynamic, growing community.445 s chicago st. is a rare opportunity to acquire a multifamily asset in one of los angeles' most promising neighborhoods, offering current income stability, significant appreciation potential, and immediate value due to its below replacement cost pricing. this property is perfect for investors seeking a sound addition to their portfolio or for an owner-user looking to enjoy both financial returns and a thriving community.

  • Property Type

    Residential Income

  • County

    Los Angeles

  • Style

    Spanish

  • AD ID

    47676064

Sell a home like this and save $83,441 Find Out How

Statistics Bottom Ads 1
Google Ads

Property Details

  • Bedroom Information

    • Total Bedrooms : 6

    Bathroom Information

    • Total Baths: 6
    • Full Baths: 0
    • Half Baths: 0

    Water/Sewer

    • Sewer : Other

    Interior Features

    • Interior Features: Ceiling Fan(s)
    • Property Appliances: Convection Oven,Dishwasher,Disposal,Gas Range,Microwave,Oven,Refrigerator,Dryer,Washer
    • Fireplace: None

    Cooling Features

    • Wall/Window Unit(s)
    • Air Conditioning

    Heating Source

    • Wall Furnace
    • Has Heating

    Fireplace

    • Fireplace Features: None
    • Has Fireplace: 0

  • Building Information

    • Year Built: 1926
    • Building Area Total: 5,576
    • Construction: Stucco

    Foundation

    • Raised

    Security Features

    • Gated Community

    Pool Features

    • None

    Patio And Porch

    • None

  • Lot Details

    • Lot Dimensions Source: Vendor Enhanced
    • Lot Size Acres: 0.1729
    • Lot Size Source: Vendor Enhanced
    • Lot Size Square Feet: 7530

  • Listing Price Information

    • Original List Price: 1,399,000
    • Listing Contract Date: 2024-11-18

    Lease Information

    • Listing Agreement: Seller Reserved

  • Tax Information

    • Parcel Number: 5183018027

  • Garage and Parking

    • Garage Description: Private,Uncovered

    Homeowners Association

    Rental Info

    • Lease Term: Negotiable
    • Tenant Pays: Cable TV,Electricity,Gas

  • Other Property Info

    • Source Listing Status: Active
    • Source Neighborhood: BOYH - Boyle Heights
    • Postal Code Plus 4: 4311
    • Directions: Exit Fwy. East on 4th. Right on Chicago Street.
    • Zoning: LARD1.5
    • Source Property Type: Residential Income
    • Area: BOYH - Boyle Heights

    Building and Construction

    • Property Age: 98
    • Property Condition: Fixer
    • Year Built Source: Vendor Enhanced
    • Total Square Feet Living: 5576
    • Entry Location: Ground Level w/steps
    • Levels or Stories: Multi/Split
Statistics Bottom Ads 2
Google Ads
Sidebar Ads 1
Google Sidebar Ads
Learn More about this Property
Message allows only 500 character
Sidebar Ads 2
Google Sidebar Ads
Sidebar Ads 2
Google Sidebar Ads

Copyright © 2024 by the Multiple Listing Service of the California Regional MLS®. This information is believed to be accurate but is not guaranteed. Subject to verification by all parties. This data is copyrighted and may not be transmitted, retransmitted, copied, framed, repurposed, or altered in any way for any other site, individual and/or purpose without the express written permission of the Multiple Listing Service of the California Regional MLS®. Information Deemed Reliable But Not Guaranteed. Any use of search facilities of data on this site, other than by a consumer looking to purchase real estate, is prohibited.

BuyOwner last updated this listing 11/23/2024 @ 00:08

  • MLS: 24464785
  • LISTING PROVIDED COURTESY OF: ,
  • SOURCE: CRMLS

is a Home, with 6 bedrooms which is for sale, it has 5,576 sqft, 7,530 sized lot, and 0 parking. A comparable Home, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of Los Angeles , in zip code 90033, this Los Angeles County Home are nearby neighborhoods.