Perfect starter fourplex in the hot Boyle Heights submarket of LA! Actual 6.4% Cap with upside to 12.89%!! The unit mix consists of two 2+1 units and two 1+1 (with den) units. The investment consists of approximately 3,732 of rentable square feet and is situated on an approximately 5,464 square foot parcel. All units have been completely remodeled and are rented to 100% section 8 tenants. The owner also has approved RTI plans to build 2 new construction 3+2 ADUs (approx 800 sq ft each) in the back of the property. Each unit includes an in-unit washer & dryer and all of the units have been renovated. The property is separately metered for both gas & electricity. The property is subject to City of Los Angeles Rent Stabilization Ordinance.
Property Details
Price:
$1,490,000
MLS #:
24440061
Status:
Active
Baths:
0
Address:
2522 Michigan Avenue
Type:
Residential Income
Neighborhood:
boyhboyleheights
City:
Los Angeles
Listed Date:
Sep 16, 2024
State:
CA
ZIP:
90033
Lot Size:
5,464 sqft / 0.13 acres (approx)
Year Built:
1923
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Schools
Interior
Cooling
None
Heating
Wall Furnace
Exterior
Parking Features
Uncovered
Parking Spots
4.00
Stories Total
2
Financial
Map
Community
- Address2522 Michigan Avenue Los Angeles CA
- AreaBOYH – Boyle Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90033
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Courtesy of BRC Advisors- BH. 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 include the name of the listing broker. Neither the listing company nor 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.
2522 Michigan Avenue
Los Angeles, CA
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