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Diego Magdaleno

1Vision Real Estate

diego@1visionproperties.com +1(714) 376-8652

$2,424,000

Est. payment - /mo

8,389 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Mixed Use

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25064768

HOA Y/N No

Year Built 1925

Lot Size 8,389 Sqft

Property Sub-Type Mixed Use

Property Description

PROPERTY OVERVIEW (All One Bedrooms / 9.17 GRM*) - As the exclusive listing agent, we are pleased to present the opportunity to acquire Mathews Apartments, a 18-unit multifamily property located in the highly sought-after Boyle Heights submarket of Los Angeles. This property is ideally positioned near major landmarks and offers a living experience in one of the city's most vibrant and up-and-coming neighborhoods. Originally constructed in 1925, the property sits on an 8,388 SF corner lot and features a building footprint of 10,478 SF, zoned LARD 1.5.

THE OPPORTUNITY - Mathews Apartments presents an exceptional opportunity to acquire a multifamily asset in Los Angeles' competitive Boyle Heights rental market, with significant upside potential through value-add opportunities. The property consists entirely of one-bedroom units, making it a versatile investment for a wide range of tenants. This well-maintained building offers secured access and sits on a desirable corner lot, providing excellent frontage in a growing neighborhood. The property presents an attractive cost per unit and cost per square foot, making it an appealing investment option for those seeking potentially strong returns and future appreciation. The current in-place GRM and Cap Rate are competitive, and with proven market rents, there is ample potential for rent increases through repositioning and further unit updates. Investors can take advantage of a great reposition opportunity to capitalize on the neighborhood's continued growth.

THE LOCATION - Mathews Apartments is located in the Boyle Heights submarket, one of Los Angeles' most historically rich and culturally diverse neighborhoods. The property sits right off 1st Street and Soto Street, offering excellent access to major thoroughfares and public transit routes, ensuring easy connections throughout Los Angeles. Boyle Heights is undergoing significant transformation, with new developments and investments shaping the area. The property's corner lot position and proximity to local amenities, including shopping centers, dining options, and cultural landmarks, provide convenience for residents and add to the property's overall appeal. With strong demand for rental properties in Boyle Heights and the potential for significant rental growth, Mathews Apartments offers a unique opportunity to secure an income-generating asset in a rapidly evolving area.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning LARD1.5

Interior

Fireplace No

Laundry None

Exterior

Pool None

Community Features Curbs

Private Pool No

Building

Lot Description Corner Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Others

Senior Community No

Tax ID 5180006022

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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Listed by Jared Levine • Keller Williams Realty Calabasas • jared@jaredmlevine.com

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116 S Mathews ST Los Angeles, CA 90033