Outstanding investment opportunity in the heart of Boyle Heights! This well-maintained 8-unit apartment building, built in 1948, boasts strong current income and significant value-add potential. All 2-bedroom, 1-bathroom units average 754 SF with potential to increase income to market rent. Additionally, a feasibility study and preliminary architectural plans for 2 additional ADU’s have been performed, allowing for a total of 10 units. These are new construction units proposed to be ADUs over the parking area and simultaneously satisfy retrofit requirements. Perched on a 9,293 SF lot, this property enjoys hillside views, extensive parking provided by 22 spaces, and a strategic location ideal for families. This property is a rare opportunity to capitalize on the strong Boyle Heights rental market and achieve robust long-term returns.
Property Details
Price:
$1,995,000
MLS #:
24465973
Status:
Active
Baths:
0
Address:
1230 N Evergreen Avenue
Type:
Commercial
Neighborhood:
boyhboyleheights
City:
Los Angeles
Listed Date:
Nov 21, 2024
State:
CA
ZIP:
90033
Year Built:
1948
Schools
Interior
Exterior
Parking Spots
22.00
Security Features
Gated Community
Financial
Map
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Courtesy of Rosano Partners. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than BUSINESS MA include the name of the listing broker. Neither the listing company nor BUSINESS MA shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved. 1230 N Evergreen Avenue
Los Angeles, CA
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