Los Angeles, CA 90033 1230 N Evergreen Avenue
$1,995,000
Presented By: Sagiv Rosano with Rosano Partners;
- MLS# 24465973
- 11/21/2024
Disclaimer: The information contained in this listing has not been verified by Sell Buy OC Homes and should be verified by the buyer.
SQFT • 6,032
Home Details
Outstanding investment opportunity in the heart of Boyle Heights! This well-maintained 8-unit apartment building, built in 1948, boasts strong current income and significant value-add potential. All 2-bedroom, 1-bathroom units average 754 SF with potential to increase income to market rent. Additionally, a feasibility study and preliminary architectural plans for 2 additional ADU's have been performed, allowing for a total of 10 units. These are new construction units proposed to be ADUs over the parking area and simultaneously satisfy retrofit requirements. Perched on a 9,293 SF lot, this property enjoys hillside views, extensive parking provided by 22 spaces, and a strategic location ideal for families. This property is a rare opportunity to capitalize on the strong Boyle Heights rental market and achieve robust long-term returns.
Presented By: Sagiv Rosano with Rosano Partners;
Interior Features for 1230 N Evergreen Avenue
Bathrooms
Total Baths
Other Interior Features
Air Conditioning Y/NNo
Basement (Y/N)No
Fireplace Y/NNo
Heating Y/NNo
Total Stories
General for 1230 N Evergreen Avenue
Additional Parcels Y/NNo
Attached Garage No
Cap Rate5.96
Carport Y/NNo
CityLos Angeles
Community FeaturesGated
CountyLos Angeles
DirectionsFrom the 10 Freeway (eastbound or westbound), exit on Soto St. If heading east, turn left onto Soto St.; if heading west, turn right onto Soto St. Continue north on Soto St., turn right onto Marengo St.,
Electric On Property Y/NNo
Garage Y/NNo
HOANo
HOA Fee$0.0
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Lot Size Square Feet9296.0
Lot Size UnitsSquareFeet
MLS AreaBOYH - Boyle Heights
MobileHomeRemainsYNNo
Net Operating Income118873.0
New ConstructionNo
Number Of Units Total8
Operating Expense50184.0
Property Attached Y/NNo
Property TypeCommercialSale
Rent Control Y/NNo
Security FeaturesGatedCommunity
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Waterfront Y/NNo
Year Built1948
ZoningLAR2
Exterior for 1230 N Evergreen Avenue
Building Area Total6032.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.2134
Lot Size Area9296.0
Open Parking Y/NNo
Private PoolNo
SpaNo
Total Parking22.0
Additional Details
Price History
Hal Schlegel
Broker Associate