Description
We are pleased to present for sale this excellent investment opportunity in one of LA's most up and coming locations Boyle Heights! This stunning 1930's investment opportunity is a 100% occupied (4) unit building situated on an expansive lot size of 7,003 SF, boasting a robust unit mix of One (3) Bedroom and (1) Bathroom Unit, Two (2) Bedroom and (1) Bath Unit, and One (2) Bedroom and (1) Bath unit. The investment has a strong day 1 return with an 11.17 GRM, 6.01% Cap Rate, and $225K per unit with immense upside potential and provides original charm with select units having original hardwood flooring, balconies, views of DTLA, and abundant parking at the rear of the lot. The subject property is zoned R3-1-CUGU, in a Tier 3 TOC location with alley access - allowing for up to (8) units by right and (15) units with TOC bonuses for future development (Buyer to Verify Feasibility). An astute investor can immediately add value by building additional units or ADU(s). Strategically located just blocks from the famous retail corridor of Cesar Chavez, and blocks to Keck Hospital of USC and USC Health Sciences Campuses, 2441 Fairmount Street is considered "Very Walkable" with a walk score of (89), where most errands can be accomplished on foot, and an "Excellent Transit" score of (73) where transit is convenient for most trips. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, unit mix, year built, zoning, market rents, and the ability to construct an ADU or additional units. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
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9BEDS
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0.16ACRES
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0BATHS
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01/2 BATHS
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5,822SQFT
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$155$/SQFT
School Ratings & Info
Description
We are pleased to present for sale this excellent investment opportunity in one of LA's most up and coming locations Boyle Heights! This stunning 1930's investment opportunity is a 100% occupied (4) unit building situated on an expansive lot size of 7,003 SF, boasting a robust unit mix of One (3) Bedroom and (1) Bathroom Unit, Two (2) Bedroom and (1) Bath Unit, and One (2) Bedroom and (1) Bath unit. The investment has a strong day 1 return with an 11.17 GRM, 6.01% Cap Rate, and $225K per unit with immense upside potential and provides original charm with select units having original hardwood flooring, balconies, views of DTLA, and abundant parking at the rear of the lot. The subject property is zoned R3-1-CUGU, in a Tier 3 TOC location with alley access - allowing for up to (8) units by right and (15) units with TOC bonuses for future development (Buyer to Verify Feasibility). An astute investor can immediately add value by building additional units or ADU(s). Strategically located just blocks from the famous retail corridor of Cesar Chavez, and blocks to Keck Hospital of USC and USC Health Sciences Campuses, 2441 Fairmount Street is considered "Very Walkable" with a walk score of (89), where most errands can be accomplished on foot, and an "Excellent Transit" score of (73) where transit is convenient for most trips. Disclosure: Buyer to conduct any/all due diligence including but not limited to the building square footage, lot size, legal bedroom/bathroom count, unit mix, year built, zoning, market rents, and the ability to construct an ADU or additional units. DO NOT DISTURB TENANTS OR WALK ON PROPERTY - DRIVE BY ONLY.
Based on information from California Regional Multiple Listing Service, Inc. as of 2023-09-24T00:28:43.64. 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 Romero Home Team | eXp Realty. Licensed in the State of California, USA.