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$ 1,249,000
Est. payment | /mo
5 Beds
4 Baths
$ 1,249,000
Est. payment | /mo
5 Beds
4 Baths
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID PW25125494
Bedrooms 5
Property Sub-Type Res Income 2-4 Units
Property Description
Ready-to-build 6-unit cash cow development located in the highly desirable Wellington Heights neighborhood of Boyle Heights. This ground-up construction project is Fully Entitled RTI Shovel Ready and ideal for investors or developers seeking strong rental income in one of Los Angeles' fastest-growing neighborhoods for USC Spanish Style Villas. The project includes three 3-bedroom, 2-bathroom units and three 2-bedroom, 2-bathroom units, all thoughtfully designed and unfurnished. Each unit comes with one dedicated parking space, totaling six parking spots for the entire property. The projected monthly rent is $3,995 for the 3-bedroom units and $3,195 for the 2-bedroom units, generating a total monthly pro forma income of $21,570 and an annual pro forma of $258,840 offering a compelling yield in a supply-constrained market. Positioned near Monterey Park and Downtown Los Angeles, the site offers unmatched accessibility to major employment centers, transit lines, and amenities. With a high Walk Score of 84, the property sits in a walker's paradise, providing future tenants with convenient access to grocery stores, parks, restaurants, and public transportation further elevating its long-term rental appeal. This is a rare opportunity to build a high-yield multi-unit property in a rapidly developing pocket of Los Angeles. The project is ready to break groundbring your team and start building today.
Location
State CA
County Los Angeles
Zoning Assessor
Direction Indiana St and 1st St: Head East on 1st St
Interior
Cooling Central Forced Air
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Tax ID 5233017005
Listed by Bret Lewis Bret Lewis, Broker