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2028 3rd Street
Los Angeles, CA 90033
Sold
2028 E 3rd St is an excellent investment opportunity in the thriving neighborhood of Boyle Heights. This massive 5,033 Sq. Ft Building comes with an exceptional unit mix of (2) 1-Bed/1-Bath, (2) 2-Bed/1- Bath, and (1) Detached 3-Bed/2-Bath house. A few blocks from the famous Mariachi Plaza, Metro Gold Line and across the river from Los Angeles' Arts District, 2028 E 3rd will come with Two units delivered tenant-ready! This offering presents an investor with the opportunity to acquire a strong cap rate of 5.82% and 11.10 GRM. Offered at only $218/Sq. Ft, this value add apartment has over 40% in rental upside. Once fully stabilized, this 5 unit apartment will operate at a 9.43% cap rate and a GRM of 7.85. Boyle Heights is a quickly growing neighborhood in Los Angeles adjacent to Downtown Los Angeles. A vibrant and culturally diverse neighborhood known for its rich history, tight-knit community, and eclectic mix of cuisines, Boyle Heights offers a dynamic blend of residential charm, thriving local businesses, and a vibrant arts scene.
PROPERTY INFORMATION
| MLS # | SB23086645 | Lot Size | 6,303 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 1,100,000
Price Per SqFt: $ 219 |
DOM | 718 Days |
| Address | 2028 3rd Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 5,033 Sq. Ft. |
| Postal Code | 90033 | Garage | N/A |
| County | Los Angeles | Year Built | 1925 |
| Bed / Bath | 9 / 0 | Parking | N/A |
| Built In | 1925 | Status | Closed |
| Sold Date | 2023-09-29 |
INTERIOR FEATURES
| Has Laundry | Yes |
| Laundry Information | Gas & Electric Dryer Hookup |
| EntryLocation | Front |
| Entry Level | 1 |
EXTERIOR FEATURES
| Has Pool | No |
| Pool | None |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,173
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 07/31/2023 | Active Under Contract | $1,100,000 |
| 07/20/2023 | Relisted | $1,100,000 |
| 06/07/2023 | Price Change (Relisted) | $1,100,000 (-6.38%) |
| 05/18/2023 | Listed | $1,175,000 |
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Listing provided courtesy of Aaron Jacobson, Lyon Stahl Investment Real Estate, Inc.. Based on information from California Regional Multiple Listing Service, Inc. as of #Date#. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
