UNDER CONTRACT
Listed by Adam Bray-Ali, Coldwell Banker Realty, (626) 449-5222
Local Information
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Description
Turnkey 5 unit rental property in Boyle Heights built in 1912 with a four-unit main building and one apartment above a two car garage at rear of property. Rear apartment is not occupied and being renovated in March 2024. Seller financing available at competitive rates with high down payment. Current GRM of 12.2 and Cap Rate of 5.63%. Pro Forma Cap rate 7.40% All apartments are 1 bedroom, 1 bath for a total count of 5 bedrooms, 5 bathrooms. Building square footage of 3,135 and property is 5,719 square feet. No unpermitted construction, no open permits or inspection issues with the city. All tenants in good standing with no unpaid rents or Covid moratorium issues. Registered as a 5 unit property with the LAHD. Strong rental market with 20% upside in rents. Tenants enjoy easy access to transportation, shopping and easy access to Downtown LA. Unit mix - 4 large studio apartments in main building and 1 bedroom, 1 bath at rear building. The main building has 4 entrances in the front, upstairs apartments are accessed via private stairwells and most units have laundry hookups. The rear building, constructed in 1923, is accessed from the backyard area. Listing agent has an ownership interest in the subject property and is acting as a principal. Boyle Heights is experiencing renewed interest from home buyers and the surrounding block has seen a number of owners renovating. The new 6th Street Bridge provides exceptional access to Downtown Los Angeles, the Arts District and Little Tokyo.
Home Highlights
Parking
Garage
Outdoor
Pool
A/C
Heating only
HOA
None
Price/Sqft
No Info
Listed
180+ days ago
Home Details for 705 S Chicago St
Interior Features |
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Interior Details Number of Rooms: 1Types of Rooms: Bedroom 1 |
Beds & Baths Number of Bedrooms: 5Number of Bathrooms: 5 |
Appliances & Utilities Utilities: Cable Available, Water Connected, Sewer Connected, Natural Gas Connected, Electricity ConnectedAppliances: NoneLaundry: None |
Heating & Cooling Heating: Natural GasNo CoolingAir Conditioning: NoneHas HeatingHeating Fuel: Natural Gas |
Fireplace & Spa Fireplace: NoneSpa: NoneNo FireplaceNo Spa |
Gas & Electric Electric: 220 VoltsHas Electric on Property |
Windows, Doors, Floors & Walls Common Walls: No Common Walls |
Levels, Entrance, & Accessibility Stories: 2Number of Stories: 2Levels: Two |
View Has a View |
Exterior Features |
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Exterior Home Features Roof: ShingleFencing: Chain Link, Wood, FencedHas a Private Pool |
Parking & Garage Number of Garage Spaces: 2Number of Covered Spaces: 2No CarportHas a GarageHas Open ParkingParking Spaces: 2Parking: Garage - Single Door,Driveway,Shared Driveway,On Street |
Pool Pool: See RemarksPool |
Frontage Road Frontage: City StreetRoad Surface Type: PavedNot on Waterfront |
Water & Sewer Sewer: Public Sewer |
Days on Market |
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Days on Market: 180+ |
Property Information |
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Year Built Year Built: 1912 |
Property Type / Style Property Type: Residential IncomeProperty Subtype: Multi Family |
Building Not a New ConstructionNot Attached PropertyNo Additional Parcels |
Property Information Not Included in Sale: Tenant Owned Appliances And Personal Property.Included in Sale: Seller Owned Appliances And Equipment Stored At The Property.Parcel Number: 5183022027 |
Price & Status |
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Price List Price: $975,000 |
Active Status |
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MLS Status: Active Under Contract |
Location |
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Direction & Address City: Los AngelesCommunity: Not Applicable |
Agent Information |
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Listing Agent Listing ID: P1-15332 |
Building |
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Building Area Building Area: 3135 |
Community |
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Community Features: Lake, Sidewalks, Suburban, Street Lights, Storm DrainsNot Senior Community |
HOA |
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Association for this Listing: California Regional MLS (Ventura & Pasadena-Foothills AORs)HOA Fee: No HOA Fee |
Lot Information |
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Lot Area: 5719 sqft |
Listing Info |
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Special Conditions: Standard |
Compensation |
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Buyer Agency Commission: 2.5Buyer Agency Commission Type: % |
Notes The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed |
Business |
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Expense Tenant Pays: Electricity, Trash Collection, Gas |
Rental |
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Has Rent Control |
Miscellaneous |
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Mls Number: P1-15332Zillow Contingency Status: Under ContractAttribution Contact: adam@propertybyadam.com |
Additional Information |
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LakeSidewalksSuburbanStreet LightsStorm Drains |
Last check for updates: about 9 hours ago
Listing Provided by: Adam Bray-Ali DRE #01859026
Coldwell Banker Realty
Originating MLS: California Regional MLS (Ventura & Pasadena-Foothills AORs)
Source: CRMLS, MLS#P1-15332
Price History for 705 S Chicago St
| Date | Price | Event | Source |
|---|---|---|---|
| 04/19/2024 | $975,000 | Contingent | CRMLS #P1-15332 |
| 10/08/2023 | $975,000 | Listed For Sale | CRMLS #P1-15332 |
| 01/01/2022 | $1,100,000 | ListingRemoved | CRMLS #P1-6074 |
| 10/24/2021 | $1,100,000 | PendingToActive | Pasadena Foothills MLS #P1-6074 |
| 10/18/2021 | $1,100,000 | Contingent | Pasadena Foothills MLS #P1-6074 |
| 10/05/2021 | $1,100,000 | PriceChange | Pasadena Foothills MLS #P1-6074 |
| 08/06/2021 | $1,150,000 | Listed For Sale | Pasadena Foothills MLS #P1-6074 |
| 12/04/2009 | $345,000 | Sold | N/A |
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Property Taxes and Assessment
| Year | 2023 |
|---|---|
| Tax | $5,986 |
| Assessment | $428,028 |
Home facts updated by county records
Comparable Sales for 705 S Chicago St
Address | Distance | Property Type | Sold Price | Sold Date | Bed | Bath | Sqft |
|---|---|---|---|---|---|---|---|
0.01 | Multi-Family Home | $780,000 | 12/27/23 | 6 | 4 | 2,464 | |
0.07 | Multi-Family Home | $768,000 | 01/29/24 | 4 | 4 | 3,444 | |
0.26 | Multi-Family Home | $946,433 | 05/03/23 | 8 | 4 | 2,996 | |
0.47 | Multi-Family Home | $710,000 | 06/12/23 | 5 | 3 | 2,479 | |
0.08 | Multi-Family Home | $550,000 | 08/29/23 | 4 | - | 1,304 | |
0.51 | Multi-Family Home | $800,000 | 03/08/24 | 4 | 3 | 1,600 | |
0.46 | Multi-Family Home | $950,000 | 09/29/23 | 14 | 6 | 5,033 | |
0.42 | Multi-Family Home | $800,000 | 10/24/23 | 4 | 2 | 1,525 | |
0.52 | Multi-Family Home | $1,300,000 | 12/01/23 | 11 | 5 | 4,952 |
Neighborhood Overview
Neighborhood stats provided by third party data sources.
What Locals Say about Boyle Heights
- Trulia User
- Resident
- 6mo ago
"I live in a neighborhood with that has respect for the people and their landscapes. So it’s good to have a family to be around on this neighborhood. It’s safer."
- Trulia User
- Resident
- 1y ago
"There’s bike riding routes , the new and improved 6th street bridge just opened, mariachi plaza posts mariachi events every so often , there’s food venders , a lot of resources "
- Trulia User
- Resident
- 2y ago
"In general it's friendly but not too clean and people park their cars however they want. Also the rent it's expensive in comparisson about the place"
- Trulia User
- Resident
- 2y ago
"Parking sucks too many people live in one house and everyone owns a vehicle so parking is always a issue "
- Trulia User
- Resident
- 2y ago
"Some dog owners don't pick up after their dogs. A lot of people walk their dogs. Others just let them out and shout for then."
- Trulia User
- Resident
- 2y ago
"It’s a good area for a dog, there are stray dogs and cats here and there so beware. Other than that the people here are friendly and most dogs are behind fences"
- Trulia User
- Resident
- 2y ago
"i se people walking their dogs all the time but their owners dont seem to understand when their dogs use the bathroom they need to pick up after them and most of these neighbors dont "
- Trulia User
- Prev. Resident
- 2y ago
"No community events. No parking around the area no parks events or community events. Safety is very poor in this area."
- Trulia User
- Prev. Resident
- 3y ago
"I would stay away lots of violence and gang activity. Not safe for children. There has been a bunch of shootings. And gentrification conflicts. "
- Cecilia P.
- Visitor
- 3y ago
"nice area to live live mostly average areas you must get along with everyone else and respect others like you want to be respected"
- Navarro.lisa2573
- Resident
- 3y ago
"Buses and train only a block away plus electric cars are right on my block There are also electric scooters in the near area "
- Francisco_alvarezj
- Resident
- 3y ago
"Noisy , no parking at all. Really bad communication between the staff and residents. A lot of stray cats and roaches and rats and possums. Property looks like it is just painted over once someone moves out, even the bathtub. They took parking away from residents which is supposed to be first come first served, and started charging over 75 dollars for a reserved parking spot that you cannot choose. Basically, whatever is available, could possibly be far from your place of living. And it’s only one reserved spot per household. When school is in session, there is always traffic or always traffic around 5 on the school street. Price is too high for living in a bad neighborhood with hardly no benefits. "
- Loeraalg
- Resident
- 3y ago
"The advantage of this area is that is connected to all areas with all freeways close and one more thing, it is really near to downtown LA"
- Cassandra S.
- Resident
- 3y ago
"my neighborhood is pretty calm and relaxing. The community is nice and people.can be friendly. there isnt a lot of traffic on normal days. "
- Celia L.
- Resident
- 3y ago
"Street fAirs on sundays. The elote man is the best. Mariachis on weekends. Mariachi concerts in november and posadas in december!"
- Raul C. F.
- Resident
- 3y ago
"people really take care of their grass areas so many people will let you know if you forget to clean up after your pet"
- Maritza G.
- Resident
- 3y ago
"There are homeless people out on the street every day, street are dirty all the time and you need to be careful crossing the street. Even at a crosswalk. The traffic here is horrible and most drivers don't care if a pedestrian is crossing."
- Yesi
- Resident
- 3y ago
"I have lived here for twelve years and it has change a lot and that is good for the community. Shops and schools are very close"
- Ingrid
- Visitor
- 3y ago
"The markets are awesome and independently owned. You can find a variety of markets and restaurants that vary in cuisine and taste level. "
- Raul C. F.
- Resident
- 3y ago
"theree are a lot of good people living here but a lot of gang activity also. if you dont keep an eye on your kids they might get involved with the wrong people."
- Alejandrojgarcia27
- Resident
- 4y ago
"It’s filled with violence and disorder. Always construction going on, only positive outlook is hispanic culture shop are easily accessible "
- Medinamauricio21
- Resident
- 4y ago
"Lots of seafood places to eat & taco stands late at night. Mostly Mexican restaurant & food trucks. Not so friendly for families "
- Brendamilian16283
- Prev. Resident
- 4y ago
"It’s a very good neighborhood, love walking my dogs and cleaning after them, very good city I love it here"
- Tony H.
- Resident
- 4y ago
"KAM gang keeps the walls bangin! Other than that it’s way better than it looks. Caesar Chavez is always fun to walk . I haven’t had any problems "
- Walter M.
- Resident
- 4y ago
"best neighborhood in LA it's always safe people always nice to you there's a taco stands everywhere and weed shops to buy flowers"
- Daniela M.
- Resident
- 4y ago
"It would be a really nice area if there were more shops/restaurants around. It’s a bit dirty around but I feel like slowly the streets have been getting cleaned up. "
- Stormywilson91
- Resident
- 4y ago
"Lots of crime, grime, and gang activity. Boyle heights is a great place to live if you don’t mind the three things previously mentioned"
- Jiyoungcda
- Resident
- 4y ago
"Horribly loud every Sundays from day to night because of the “Domingo party” at “Mariachi Plaza”. So many homeless cars reserved almost of street parkings. Terrible traffic on the bridges to cross the river every morning. "
- Xihomara.271
- Resident
- 4y ago
"A lot of dog owners don’t pick up after their dogs and let their dogs off leash knowing they could get run over or know their dog is aggressive "
- Jasonmalone29
- Resident
- 4y ago
"Dod owners would love the neighborhood because there are plenty of grass patches. Drives me crazy because mist do not pick up after there dog. "
- Paulalmeidaesp
- Resident
- 4y ago
"No where near as bad as it used to be back in the 90’s and 00’s. The homeless are becoming more noticeable but that’s more of LA problem. Schools are getting better but still underfunded. "
- Winnie M.
- Resident
- 4y ago
"People who live here have been here have grown up here. If you take the time to get to know them they will look out for you like your one of their own. "
- Ana G.
- Resident
- 4y ago
"Nothing makes our neighborhood special. I would like if our neighborhood had movie nights and fun events. I believe that our people in Boyle Heights need to engage more to make our neighborhood feel friendly."
- Paluku N.
- Visitor
- 4y ago
"Yeah it’s ok place to visit as you know! It not my type of place just trying to maintain what we can "
- Local of East LA
- Resident
- 4y ago
"The neighborhood is not safe for small kids. It is not safe for children to play and roam around. They can play but with supervision. "
- María L. .
- Resident
- 4y ago
"Boyle heights it’s known for the mariachi plaza and the Mercadito which they have events very family oriented."
- Michal C.
- Visitor
- 4y ago
"OH MY GOD THIS PLACE IS SO SCARY. 10/10 felt like I was going to get shanked. PLEASE, do not waist your time looking at this place. Drove right past when we had an appointment because it looked NOTHING like pics "
- Sebastian D. M.
- Resident
- 4y ago
"I love seeing the streets closed near Mariachi Plaza on the weekends. It’s amazing to see the community come together the way it does. It’s so special and I love attending as much as possible. "
- Elsa M.
- Resident
- 4y ago
"My neighborhood is great but needs to be more pet friendly. Community is small and everyone knows everyone."
- acg
- Resident
- 4y ago
"Tired of the people here that are moving in. I’ve been here for 23 years and certain streets get uglier and uglier by the week. People keep throwing their trash on the street and it just builds up. They keep building apartments here when it’s already too populated here. There’s never no where to park due to it being so packed here. "
LGBTQ Local Legal Protections
LGBTQ Local Legal Protections
Adam Bray-Ali, Coldwell Banker Realty
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-01-24 10:53:37 PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
Based on information from California Regional Multiple Listing Service, Inc. as of 2024-01-24 10:53:37 PST and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed.
705 S Chicago St, Los Angeles, CA 90023 is a 5 bedroom, 5 bathroom multi-family built in 1912. 705 S Chicago St is located in Boyle Heights, Los Angeles. This property is currently available for sale and was listed by CRMLS on Oct 8, 2023. The MLS # for this home is MLS# P1-15332.