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$ 949,000
Est. payment /mo
Price Dropped by $26K
605 N St Louis Los Angeles, CA 90033
5,309 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SB26096719
HOA Y/N No
Year Built 1923
Lot Size 5,309 Sqft
Property Sub-Type Apartment
Property Description
605 N St Louis St presents an attractive 4-unit multifamily investment opportunity in Los Angeles, offered at $949,000 ($237,250/unit), reflecting a 6.82% current Cap Rate and 10.47 GRM. Three of the four units will be delivered vacant, providing an investor with immediate value-add potential through the opportunity to achieve higher market rents. Pro Forma rents reflect a 13.59% increase in scheduled rental
income, further highlighting the property's upside potential. Originally built in 1923, the property encompasses approximately 2,598 SF on a 5,311 SF lot, equating to $365/SF. The property is separately metered for electric, gas, and trash, providing for a favorable expense structure and greater control over operating costs. Strategically located in Los Angeles' 90033 neighborhood, 605 N St Louis St benefits from convenient access to major employment centers, established retail corridors, and public transportation. The surrounding rental market is supported by consistent tenant
demand and long-term growth potential, positioning the property as an attractive opportunity for investors seeking a combination of immediate value-add upside, operational efficiency, and long-term appreciation.
income, further highlighting the property's upside potential. Originally built in 1923, the property encompasses approximately 2,598 SF on a 5,311 SF lot, equating to $365/SF. The property is separately metered for electric, gas, and trash, providing for a favorable expense structure and greater control over operating costs. Strategically located in Los Angeles' 90033 neighborhood, 605 N St Louis St benefits from convenient access to major employment centers, established retail corridors, and public transportation. The surrounding rental market is supported by consistent tenant
demand and long-term growth potential, positioning the property as an attractive opportunity for investors seeking a combination of immediate value-add upside, operational efficiency, and long-term appreciation.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Interior
Flooring Vinyl
Fireplace No
Appliance Gas Range
Laundry Inside, Outside
Exterior
Pool None
Community Features Curbs, Suburban, Sidewalks, Urban
Total Parking Spaces 3
Private Pool No
Building
Lot Description 0-1 Unit/Acre
Story 2
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 5175027002
Acceptable Financing Cash, Cash to New Loan, Conventional, Contract, FHA
Listing Terms Cash, Cash to New Loan, Conventional, Contract, FHA
Special Listing Condition Standard
Listed by Aaron Jacobson Lyon Stahl Investment Real Estate, Inc. 310-729-1559, DRE #02100737