1612 Pennsylvania Ave - Multi-Family FOR SALE


Los Angeles, CA 90033- Boyle Heights
$1,175,000 USD
626-427-0786
1612 Pennsylvania Ave, Los Angeles, CA for Sale
$1,175,000 USD
Multi-Family - FOR SALE
1/11
null | 6.28% Cap Rate

1612 Pennsylvania Ave
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • Attractive Unit Mix:(1) Detached 2-Bed/1-Bath Single-Story Cottage, (1) 2-Bed/2-Bath Unit with Den, (2) 2-Bed/1-Bath Units
  • Tenants Pay Electricity, Gas, Water & Trash!
  • New Roof Installed 2025
  • Potential Standalone Garage ADU Conversion (Buyer to Verify)
  • Private Gated Entry
  • Convenient Access to I-5, I-10 & US-101

OVERVIEW

Just Listed! Kristopher German & Alex Lin of The Apartment Dealer is pleased to offer an outstanding value-add opportunity to acquire a 4-unit multi-family property in Boyle Heights, offering a rare combination of immediate vacancy and strong day-one cash returns. The property is currently operating at a 6.28% CAP Rate and 11.57 GRM, with three of the four units to be delivered vacant, allowing investors to lease at current market rents from the outset and maximize thier cash flow. Built in the 1970s, the property features a highly desirable and diverse unit mix consisting of a detached single-story 2-Bedroom/1-Bath cottage, one 2-Bedroom/2-Bath unit with a den, and two 2-Bedroom/1-Bath units, totaling approximately 3,385 rentable square feet on a 7,486 sq. ft. lot. Residents enjoy the privacy of a gated entry along with onsite garage parking, while ownership benefits from an efficient operating structure with tenants paying ALL utilities, including electricity, gas, trash and water! Adding to the property's long-term value is the potential to convert the standalone garage into an ADU (buyer to verify), creating an additional opportunity to increase future income. Conveniently located near the I-10, I-5, and 101 Freeways, the property offers excellent access to Downtown Los Angeles, major employment centers, shopping, dining, and public transportation. With three vacant units, excellent cash-on-cash return potential once leased at market rents, and additional ADU upside, this is a compelling opportunity for investors seeking immediate value creation in one of Los Angeles' strongest rental markets.

FOR SALE DETAILS

PRICE

$1,175,000 USD

PRICE/SF

$347 USD /SF

# OF UNITS

4

PRICE/UNIT

$293,750

CAP RATE

6.28%

% LEASED

25%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4-Plex Boyle Heights: 3 Units Vacant!

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,486 SF

ZONING

LARD1.5

APN/PARCEL ID

5174-024-035

ASK ABOUT THIS PROPERTY

Kristopher GermanThe Apartment DealerMore Info
626-427-0786

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Kristopher GermanThe Apartment DealerMore Info
626-427-0786

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.