Multifamily

219 N St Louis St

219 N St Louis St, Los Angeles, CA 90033

Listing Price: $1,275,000

Cap Rate
3.69%
Number of Units
6
GRM
16.03
Occupancy
97.0%
Price/Unit
$212,500
Price/Gross SF
$230.48
Gross SF
5,532

Investment Overview

Marcus & Millichap is pleased to present a six (6) unit apartment building located at 219 North St. Louis Street in Los Angeles, California. The subject property is situated in a prime Boyle Heights location, south of East Cesar E. Chavez Avenue and west of North Soto Street.

Located east of Downtown Los Angeles, Boyle Heights is one of Los Angeles' most historic and vibrant neighborhoods. From Mariscos Jalisco to MorrisseyOKE, residents can discover the best shopping, dining and hidden gems in the area. In Boyle Heights, you'll find a fairly large concentration of retail on E Cesar E. Chavez Blvd and 1st Street, both of which are easily accessible via the Metro's Gold Line. One of the joys of eating in Boyle Heights is that you'll find a good amount of restaurants that are embedded in the neighborhood's history. Spots like El Tepeyac, Al & Bea's and Otomisan have passed the half-century mark and, when you walk into them, you can feel the past and the present intermingle. Yet, Boyle Heights is also home to younger restaurants, like Guisados and Un Solo Sol, who are carving out their own niches in the neighborhood. The historic neighborhood is also home to one of the city's early parks, an art studio that's tied to the Chicano Movement of the civil rights era, and the long tradition of street art in the neighborhood. This area also provides residents with dominant access to any part of Los Angeles via the 5 and 60 Freeways.

Built in 1928, this offering features a solid unit mix of two (2) one-bedroom/one-bathroom units and four (4) large one-bedroom/one-bathroom units. These large units are comparable to neighborhood two-bedroom/one-bathroom units and can be marketed as such. The units are remodeled, unique, spacious, and come with a plethora of amenities. The kitchens feature brand new cabinets, granite counter tops, and new stainless steel appliances including a stove, hood, sink, garbage disposal, refrigerator, microwave, and dishwasher. Each unit comes fully equipped with new ceiling fans, new A/C and heating units, new electrical, new lighting, and washer and dryers in-unit. The units also features newly remodeled bathrooms with brand new his and her sinks, and beautiful showers with tubs. Each bedroom is very large and has brand new built-in closet space for optimal storage. Other amenities include full on-site parking and extra garage space for storage. Each unit is separately metered for gas and electric so residents pay for those utilities.

Situated in prime Boyle Heights, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside in a core market of Los Angeles.

Investment Highlights

  • Prime Boyle Heights Location
  • Significant Rental Upside Potential
  • Spacious Units
  • On-Site Parking
  • Good Price Per Square-Foot
  • Separately Metered for Gas & Electric

Exclusively Listed By

Listing Price: $1,275,000

Cap Rate
3.69%
Number of Units
6
GRM
16.03
Occupancy
97.0%
Price/Unit
$212,500
Price/Gross SF
$230.48
Gross SF
5,532

Investment Highlights

  • Prime Boyle Heights Location
  • Significant Rental Upside Potential
  • Spacious Units
  • On-Site Parking
  • Good Price Per Square-Foot
  • Separately Metered for Gas & Electric

Investment Overview

Marcus & Millichap is pleased to present a six (6) unit apartment building located at 219 North St. Louis Street in Los Angeles, California. The subject property is situated in a prime Boyle Heights location, south of East Cesar E. Chavez Avenue and west of North Soto Street.

Located east of Downtown Los Angeles, Boyle Heights is one of Los Angeles' most historic and vibrant neighborhoods. From Mariscos Jalisco to MorrisseyOKE, residents can discover the best shopping, dining and hidden gems in the area. In Boyle Heights, you'll find a fairly large concentration of retail on E Cesar E. Chavez Blvd and 1st Street, both of which are easily accessible via the Metro's Gold Line. One of the joys of eating in Boyle Heights is that you'll find a good amount of restaurants that are embedded in the neighborhood's history. Spots like El Tepeyac, Al & Bea's and Otomisan have passed the half-century mark and, when you walk into them, you can feel the past and the present intermingle. Yet, Boyle Heights is also home to younger restaurants, like Guisados and Un Solo Sol, who are carving out their own niches in the neighborhood. The historic neighborhood is also home to one of the city's early parks, an art studio that's tied to the Chicano Movement of the civil rights era, and the long tradition of street art in the neighborhood. This area also provides residents with dominant access to any part of Los Angeles via the 5 and 60 Freeways.

Built in 1928, this offering features a solid unit mix of two (2) one-bedroom/one-bathroom units and four (4) large one-bedroom/one-bathroom units. These large units are comparable to neighborhood two-bedroom/one-bathroom units and can be marketed as such. The units are remodeled, unique, spacious, and come with a plethora of amenities. The kitchens feature brand new cabinets, granite counter tops, and new stainless steel appliances including a stove, hood, sink, garbage disposal, refrigerator, microwave, and dishwasher. Each unit comes fully equipped with new ceiling fans, new A/C and heating units, new electrical, new lighting, and washer and dryers in-unit. The units also features newly remodeled bathrooms with brand new his and her sinks, and beautiful showers with tubs. Each bedroom is very large and has brand new built-in closet space for optimal storage. Other amenities include full on-site parking and extra garage space for storage. Each unit is separately metered for gas and electric so residents pay for those utilities.

Situated in prime Boyle Heights, this offering presents an excellent opportunity for an astute investor to capitalize on strong rental upside in a core market of Los Angeles.

Exclusively Listed By

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