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$ 699,000
Est. payment /mo
Active
2505 Chelsea Los Angeles, CA 90033
4 Beds
4 Baths
7,971 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
MLS Listing ID AR26194839
Bedrooms 4
Lot Size 7,971 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Unmatched Value-Add Density Expansion in Boyle Heights! Located blocks from the Keck School of Medicine of USC Hospital, this unique corner-lot residential income property features 5 detached/semi-detached 1BD/1BA units on an expansive 7,971 SF parcel. Perfect for a 1031 exchange or seasoned developer looking to skip the municipal red tape: LADBS plan checks are already completed for 2 brand-new, 2-story detached units (892 SF & 894 SF). While the 5 existing character units built in 1924 offer consistent historical occupancy under LARSO, the 2 new construction units qualify for full Costa-Hawkins exemptionsbypassing legacy rent-control caps to allow immediate market-rate cash flow. Driveway access accommodates future parking allocations seamlessly. Transform this asset from a stable 2.93% current cap into a massive 10.4% projected stabilized return. Sold "As-Is" with all plans and engineering conveyed at close.
Location
State CA
County Los Angeles
Zoning Assessor
Direction North of Soto St, off the 10 fwy
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 1
Level or Stories 1
Others
Senior Community No
Tax ID 5202010020
Acceptable Financing Cash
Listing Terms Cash
Listed by Carmen Martinez, DRE#01848111 Compass
Nearby Locations
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