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2028 E 3rd Street

Los Angeles (City), CA 90033
  • $1,595,000
  • STATUS: Active Under Contract
  • ON SITE: 33 Days
  • ID#: SB24016974
Under Contract
UPDATED: 71 min ago
$1,595,000
  • 0
    BEDS
  • 0.14
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1925
County:

School Ratings & Info

Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)


Description

Property will be delivered 100% Vacant by Close of Escrow!8.8% Cap Rate! One of the best in Los Angeles County!2028 E 3rd St is a meticulously remodeled 5 UnitApartment in the heart of Los Angeles. Boasting anexcellent unit mx with (2) 2-Bed/1-Bath, (2) 3-Bed/1-Bathand (1) 4-Bed/2-Bath units, each unit has been renovatedwith contemporary fixtures, new flooring, modernbathrooms, and in unit laundry hookups.This 4-Bed/2-Bath unit comes as a detached residencewith private alley access and it's own two car garage. Theoffering comes with endless opportunity, highlighted bythis garage that can be converted into an ADU (Buyer toVerify). This offering presents an investor the opportunityto acquire a fully tenant-ready Asset in Boyle Heights operatingat a 8.80% Cap Rate and 8.16 GRM. Offered at only$316/Sq. Ft, this turn-key apartment is fit for any investorto add a cash cow to their apartment portfolio.Boyle Heights is a quickly growing neighborhood in LosAngeles adjacent to Downtown Los Angeles. A vibrant andculturally diverse neighborhood known for its rich history,tight-knit community, and eclectic mix of cuisines, BoyleHeights offers a dynamic blend of residential charm,thriving local businesses, and a vibrant arts scene. With aclose proximity to the train line stop and walking distanceto Hollenbeck Park, and restaurants, bars and nightlife.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-03T22:26:08.407. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
www.kevinhillre.com/homes/147037300
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2028 E 3rd Street Los Angeles (City), CA 90033

  • Price: $1,595,000
  • Status: Active Under Contract
  • On Site: 33 Days
  • Updated: 71 min ago
  • ID#: SB24016974
0
Beds
0
Baths
0
½ Baths
0.14
Acres
1925
Built
Neighborhood:
BOYH - Boyle Heights
County:
Los Angeles
Area:
BOYH - Boyle Heights
Property Description
Property will be delivered 100% Vacant by Close of Escrow!8.8% Cap Rate! One of the best in Los Angeles County!2028 E 3rd St is a meticulously remodeled 5 UnitApartment in the heart of Los Angeles. Boasting anexcellent unit mx with (2) 2-Bed/1-Bath, (2) 3-Bed/1-Bathand (1) 4-Bed/2-Bath units, each unit has been renovatedwith contemporary fixtures, new flooring, modernbathrooms, and in unit laundry hookups.This 4-Bed/2-Bath unit comes as a detached residencewith private alley access and it's own two car garage. Theoffering comes with endless opportunity, highlighted bythis garage that can be converted into an ADU (Buyer toVerify). This offering presents an investor the opportunityto acquire a fully tenant-ready Asset in Boyle Heights operatingat a 8.80% Cap Rate and 8.16 GRM. Offered at only$316/Sq. Ft, this turn-key apartment is fit for any investorto add a cash cow to their apartment portfolio.Boyle Heights is a quickly growing neighborhood in LosAngeles adjacent to Downtown Los Angeles. A vibrant andculturally diverse neighborhood known for its rich history,tight-knit community, and eclectic mix of cuisines, BoyleHeights offers a dynamic blend of residential charm,thriving local businesses, and a vibrant arts scene. With aclose proximity to the train line stop and walking distanceto Hollenbeck Park, and restaurants, bars and nightlife.
Exterior Features

Entry Level 1 Entry Location Front Lot Features 0-1 Unit/Acre Number Of Separate Electric Meters 5 Parking Total 2 Pool Features None Pool Private YN No Property Attached YN No

Interior Features

Common Walls No Common Walls Fireplace Features Family Room Fireplace YN Yes

Property Features

Additional Parcels YN No Cap Rate 8.8 Common Interest Community Apartment Community Features BikingCurbsHikingParkSidewalksUrban Electric Expense 2000 Fuel Expense 2000 Garage YN Yes Gross Income 195420 Gross Scheduled Income 195420 Insurance Expense 5174 Land Lease YN No Laundry Features Washer HookupElectric Dryer HookupGas Dryer HookupInsideLaundry Room Listing Agreement Exclusive Right To Sell Listing Service Full Service Listing Terms CashCash to Existing LoanCash to New LoanPrivate Financing Available Maintenance Expense 3250 Net Operating Income 140317 New Construction YN No New Taxes Expense 19938 Number Of Separate Gas Meters 5 Number Of Separate Water Meters 1 Operating Expense 45333 Possession Close Of Escrow Property Sub Type Apartment Rent Control YN Yes Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Trash Expense 0 Vacancy Allowance Rate 5 Water Sewer Expense 2000 Water Source Public



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-03-03T22:26:08.407. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Berkshire Hathaway HomeServices California Properties. Licensed in the State of California, USA.
 
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Berkshire Hathaway HomeServices California Properties
25909 Pala Dr, Suite 100
Mission Viejo CA, 92691
Listing Agent(s): Aaron Jacobson of Lyon Stahl Investment Real Estate, Inc. (310-425-9838) and Cameron Samimi of Lyon Stahl Investment Real Estate, Inc.(310-425-9838)