645-649 N Cummings St - Apartments FOR SALE


Los Angeles, CA 90033- Boyle Heights
$1,924,000 USD
213-200-5882
645-649 N Cummings St, Los Angeles, CA for Sale
$1,924,000 USD
Apartments - FOR SALE
1/19
null | 5.97% Cap Rate

645-649 N Cummings St
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • Tremendous upside - Rapidly growing area
  • Large units
  • Tenant pays all utilities
  • Easy to manage and maintain
  • Great Egress and Ingress for parking flow
  • Amazing and easy going tenants

OVERVIEW

645 N Cummings St is $875,000 Duplex- 5br/2 bath in each unit. 1,715 sq ft per unit 649 N Cummings St is $1,049,000 Triplex- Single family home 3br/2 bath remodeled , 3br/1 bath and 2br /1 bath unit. single family unit will be vacant at end of June for an owner user. TREMENDOUS UPSIDE! This well-maintained triplex offers a rare opportunity for significant rental growth in the rapidly evolving Boyle Heights market. The property features approximately 3,245 sq ft of building area on a 5,071 sq ft corner lot, providing excellent ingress and egress for parking. The front building consists of two units a 3-bedroom, 1-bath and a 2-bedroom, 1-bath while the detached rear unit offers 3 bedrooms and 2 bathrooms and was fully remodeled approximately 4 years ago. This versatile unit mix is highly desirable for maximizing rental income and attracting long-term tenants. Tenants share the driveway for parking and are responsible for maintaining the parking area. Tenants also pay all utilities, keeping landlord expenses minimal and limited to property taxes and insurance. With low operating costs and strong income potential, this property is an efficient, income-producing investment. Located in a quiet residential neighborhood, the property offers a unique blend of suburban comfort with close proximity to ongoing development and appreciation throughout Boyle Heights. BONUS OPPORTUNITY: Back unit will be moving out in June. It will be delivered vacant for owner occupying the unit. It is also a great opportunity to raise the income to market value. The adjacent property at 645 N Cummings is also available for sale, presenting a rare chance to acquire multiple income properties in a prime location. Additional details available upon request.

FOR SALE DETAILS

PRICE

$1,924,000 USD

PRICE/SF

$288 USD /SF

# OF UNITS

5

PRICE/UNIT

$384,800

CAP RATE

5.97%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1931

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,621 SF

ZONING

LAR2

APN/PARCEL ID

5175-031-009,5175-031-010

ASK ABOUT THIS PROPERTY

Alexis KimAlexis Kim Real EstateMore Info
213-200-5882

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Alexis KimAlexis Kim Real EstateMore Info
213-200-5882

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