405 S Boyle, Los Angeles, California 90033, Los Angeles, 90033 - bed, bath
ACTIVE$3,499,999$10,469/sqft
405 S Boyle, Los Angeles, California 90033
0Bed
0Bath
10,469Sqft
18,736Lot
Price Vs. Estimate
Estimation data not available
Key pros and cons
Top Pros:
Diversified Income Stream: The property is a mixed-use investment featuring 16 residential units and 3 retail units, providing multiple income streams and mitigating vacancy risk.
Top Cons:
Predominance of Smaller Units: The majority of residential units are singles, which may limit overall rental income potential compared to properties with a higher proportion of larger units and could lead to higher tenant turnover.
Compared to the nearby listings
Price:$3.50M vs avg $2.01M (+$1,484,999.5)50%
Size:10,469 sqft vs avg 6,002 sqft50%
Price/sqft:$334 vs avg $34050%
More Insights
Built in 1928 (98 years old).
Condition: The property, with residential units built in 1961 and retail in 1928, is aged but described as 'well-maintained' and recently underwent a significant earthquake retrofit in June 2023, addressing structural integrity. However, the listing's own analysis points to 'Potential for Interior Obsolescence' and 'aging systems (e.g., plumbing, electrical)' not covered by the retrofit. Without interior images, it's highly probable that kitchens, bathrooms, and other finishes are outdated, requiring minor to moderate updates to meet current tenant expectations and maximize rental value. Major components are functional, but show signs of being outdated, aligning with a 'fair' condition.
Year Built
1928
Close
-
List price
$3.5M
Original List price
$3.5M
Price/Sqft
$334
HOA
-
Days on market
-
Sold On
-
MLS number
MB26005690
Home ConditionFair
Features
Good View: Bridge(s), City Lights
ViewBridge(s),City Lights
About this home
The subject property is a "mixed use" investment compromised of a 16 unit multi-family apartment building (built in 1961) and a seperate 3 unit retail building located at the heavily traveled signalized intersection of 4th St and Boyle Ave. The property is located in Boyle Heights just across the 101 freeway from Downtown L.A. and part of the East Los Angeles Enterprise Zone. An Overlay Mixed Use Neighborhood Community Plan encompasses the C2 lot property. Strong rental market. Most Units are singles, one unit is a 1bed/1bath, and one unit is a 3 bed/2bath. Well maintaiend by the same family who owns and built the residential units. The structures have been Earthquake Retroffited (June 2023). The Seller will entertain offers with "seller carry back" financing. *Unit info does not inlcude billboard income*
J
JACK HADJINIAN
Listing Agent
Condition Rating
Fair
The property, with residential units built in 1961 and retail in 1928, is aged but described as 'well-maintained' and recently underwent a significant earthquake retrofit in June 2023, addressing structural integrity. However, the listing's own analysis points to 'Potential for Interior Obsolescence' and 'aging systems (e.g., plumbing, electrical)' not covered by the retrofit. Without interior images, it's highly probable that kitchens, bathrooms, and other finishes are outdated, requiring minor to moderate updates to meet current tenant expectations and maximize rental value. Major components are functional, but show signs of being outdated, aligning with a 'fair' condition.
Pros & Cons
Pros
Diversified Income Stream: The property is a mixed-use investment featuring 16 residential units and 3 retail units, providing multiple income streams and mitigating vacancy risk.
Strategic High-Traffic Location: Located at a heavily traveled, signalized intersection in Boyle Heights, offering excellent visibility for retail and convenient access for residential tenants, with close proximity to Downtown Los Angeles.
Recent Earthquake Retrofitting: Structures were recently retrofitted in June 2023, significantly enhancing safety, structural integrity, and reducing future capital expenditure for seismic upgrades.
Favorable Market & Economic Zone: Situated in a strong rental market and part of the East Los Angeles Enterprise Zone, indicating robust tenant demand and potential economic incentives.
Flexible Seller Financing: The seller is open to carry-back financing, offering a flexible purchasing option that can attract a broader pool of qualified buyers.
Cons
Predominance of Smaller Units: The majority of residential units are singles, which may limit overall rental income potential compared to properties with a higher proportion of larger units and could lead to higher tenant turnover.
Age of Buildings: With residential units built in 1961 and an overall year built of 1928, the property may require ongoing maintenance and potential capital expenditures for aging systems (e.g., plumbing, electrical) not covered by the recent seismic retrofit.
Potential for Interior Obsolescence: Despite being described as 'well-maintained,' the age of the buildings suggests that individual unit interiors and common areas may be dated, potentially requiring significant renovation to maximize rental rates and tenant appeal in a competitive market.