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Multifamily

2520 Folsom

2520 Folsom, Los Angeles, CA 90033

Listing Price: $1,295,000

Cap Rate
2.74%
Number of Units
8
Price/Unit
$161,875
Price/Gross SF
$333.68
Gross SF
3,881

Investment Overview

The Azzi Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 2520 Folsom Street, an eight-unit apartment building located in the up and coming Boyle Heights Neighborhood of East Los Angeles. The subject property has been well maintained, but is perfectly suited for a comprehensive renovation plan that would allow investors the ability to achieve a 84% increase in cash flow. Built in 1956, 2520 Folsom Street is composed of 3,881 square feet of gross rentable area, situated on a 6,995-square foot lot. The eight-unit building is composed of one studio/one-bathroom unita and seven one-bedroom/one-bathroom units. The building is well-maintained and offers on-site parking for tenants. The property sits less than two blocks north of Cesar E. Chavez Avenue, providing residents immediate access to Boyle Heights’ heaviest retail corridor. The boulevard offers access to a variety of major retailers and restaurants, including Walgreens, Northgate Market, McDonald’s, King Taco, and La Monarca Bakery & Cafe. USC Medical Center and Adventist Health White Memorial Hospital are both major medical employers in the community, helping to now draw a higher-paying tenant profile than in years past. The local market has experienced accelerated gentrification over the past three years, which has brought along increases in market rents and property values at the same time. Given the property’s prime East Los Angeles location and value-add component, 2520 Folsom Street is well suited to provide investors with healthy returns and long-term appreciation.

Investment Highlights

  • Ability to Invest Early on in an Already Gentrifying Neighborhood!
  • Excellent Unit Mix Composed of Studio and One-Bedroom Units - Well Suited for Today's Market.
  • 2520 Folsom Street Offers Investors Significant Upside in Rental Income Via Interior and Common Area Renovations - Current Loss-to-Lease Approx. 84%
  • On-Site Parking for Tenants!
  • Separately Metered for Gas and Electric!

Exclusively Listed By

Financing By

Listing Price: $1,295,000

Cap Rate
2.74%
Number of Units
8
Price/Unit
$161,875
Price/Gross SF
$333.68
Gross SF
3,881

Investment Highlights

  • Ability to Invest Early on in an Already Gentrifying Neighborhood!
  • Excellent Unit Mix Composed of Studio and One-Bedroom Units - Well Suited for Today's Market.
  • 2520 Folsom Street Offers Investors Significant Upside in Rental Income Via Interior and Common Area Renovations - Current Loss-to-Lease Approx. 84%
  • On-Site Parking for Tenants!
  • Separately Metered for Gas and Electric!

Investment Overview

The Azzi Group of Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire 2520 Folsom Street, an eight-unit apartment building located in the up and coming Boyle Heights Neighborhood of East Los Angeles. The subject property has been well maintained, but is perfectly suited for a comprehensive renovation plan that would allow investors the ability to achieve a 84% increase in cash flow. Built in 1956, 2520 Folsom Street is composed of 3,881 square feet of gross rentable area, situated on a 6,995-square foot lot. The eight-unit building is composed of one studio/one-bathroom unita and seven one-bedroom/one-bathroom units. The building is well-maintained and offers on-site parking for tenants. The property sits less than two blocks north of Cesar E. Chavez Avenue, providing residents immediate access to Boyle Heights’ heaviest retail corridor. The boulevard offers access to a variety of major retailers and restaurants, including Walgreens, Northgate Market, McDonald’s, King Taco, and La Monarca Bakery & Cafe. USC Medical Center and Adventist Health White Memorial Hospital are both major medical employers in the community, helping to now draw a higher-paying tenant profile than in years past. The local market has experienced accelerated gentrification over the past three years, which has brought along increases in market rents and property values at the same time. Given the property’s prime East Los Angeles location and value-add component, 2520 Folsom Street is well suited to provide investors with healthy returns and long-term appreciation.

Exclusively Listed By

Financing By

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