131 S Boyle Ave is a 15-unit true value-add investment opportunity located in Boyle Heights, located just south of E 1st Street with immediate access to the 1-5 and 1-1 0 Freeways, a location next to Mariachi Plaza, the Metro Gold Line and across the river from Los Angeles’ Arts District
The subject property, built in 1887, will be delivered 100% vacant and consists of 15 single occupancy units with potential to convert into single units with kitchens and bathrooms, 5 units have spaces for a full kitchen. Furthermore, there is a community lobby on the first floor and four communal bathrooms, two on each floor.
This investment presents the opportunity to capture a strong market CAP rate of 6.44% and 8.55 GRM, with the ability to reposition the property with interior renovations immediately at the close of escrow.
Buyer can potentially convert driveway to on-site gated parking for 12-15 spaces.
High walk score of 90, in close proximity to shopping, nightlife and dining attractions; direct access to the 1-5 and 1-1 0 Freeways, as well as the CA-60.
Boyle Heights is a fast growing, historic, and vibrant neighborhood located just East of Downtown Los Angeles. New developments, art galleries, terrific restaurants, coffee shops, access to the Arts Districts and some of the best restaurants, night life & hidden gems in Los Angeles. Close to employment opportunities and transportation for potential clients including Medical Students, Residents & MD’s, and people employed in the Business District, Fashion District, Cal State University, USC, LA City College, and Fashion Institute of Design.