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705 Chicago Street
Los Angeles, CA 90023
Sold
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathrooms. Building square footage of 3,135 and property is 5,719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD. Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
PROPERTY INFORMATION
| MLS # | P1-15332 | Lot Size | 5,719 Sq. Ft. |
| HOA Fees | $0/Monthly | Property Type | Apartment |
| Price | $ 975,000
Price Per SqFt: $ 311 |
DOM | 602 Days |
| Address | 705 Chicago Street | Type | Residential Income |
| City | Los Angeles | Sq.Ft. | 3,135 Sq. Ft. |
| Postal Code | 90023 | Garage | 2 |
| County | Los Angeles | Year Built | 1912 |
| Bed / Bath | 5 / 0 | Parking | 2 |
| Built In | 1912 | Status | Closed |
| Sold Date | 2024-05-31 |
INTERIOR FEATURES
| Has Laundry | No |
| Laundry Information | None |
| Has Fireplace | No |
| Fireplace Information | None |
| Has Appliances | No |
| Kitchen Appliances | None |
| Has Heating | Yes |
| Heating Information | Natural Gas |
| Has Cooling | No |
| Cooling Information | None |
| Entry Level | 12 |
| Has Spa | No |
| SpaDescription | None |
EXTERIOR FEATURES
| Roof | Shingle |
| Has Pool | Yes |
| Pool | See Remarks |
| Has Fence | Yes |
| Fencing | Chain Link, Wood |
WALKSCORE
MAP
MORTGAGE CALCULATOR
- Principal & Interest:
- Property Tax: $1,040
- Home Insurance:$119
- HOA Fees:$0
- Mortgage Insurance:
PRICE HISTORY
| Date | Event | Price |
| 10/06/2023 | Listed | $975,000 |
Topfind Realty
REALTOR®
(844)-333-8033
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Listing provided courtesy of Adam Bray-Ali, Coldwell Banker Realty. 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.
