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$ 1,890,000
Est. payment | /mo
12 Beds
5,490 SqFt
$ 1,890,000
Est. payment | /mo
12 Beds
5,490 SqFt
Key Details
Property Type Single Family Home
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 5,490 sqft
Price per Sqft $344
MLS Listing ID CL26640525
Bedrooms 12
HOA Y/N No
Year Built 2023
Lot Size 6,998 Sqft
Acres 0.16
Property Sub-Type OTHER
Property Description
Newly built 2023 construction 4-Plex in the heart of Boyle Heights. The 5,490 SF property consists of two separate duplex structures, each with two townhome style units. Each of the four huge townhome units is comprised of 3 bedrooms and 3.5 bathrooms, and the units average 1,373 square feet each. Plus each bedroom has its own en-suite bathroom. Tenants pay for all of their own utilities with four separate gas, water & electric meters, and there are fully paid off solar panels on the roofs. Tenants also subscribe to a solar rebate program, vastly lowering their monthly utility expenses. Each of the units has been thoughtfully designed with designer finishes, high-end fixtures, LVP flooring & stainless steel appliances. Every unit also includes a laundry closet on the upstairs landing with washer/dryer hookups. There are a total of eight uncovered parking spaces, with six in the back and two in the front, providing two parking spaces for each unit. The parking areas are secured by electric gates as well. The property is currently fully occupied, and it is subject to LA City rent control under RSO. Offered at an attractive 7.05% cap rate and only $344/SF, 2531 Folsom presents an extremely attractive offering for multifamily investors looking for Day 1 cash flow from a newly built asset.
Location
State CA
County Los Angeles
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry Other
Exterior
Total Parking Spaces 8
Building
New Construction No
Others
Tax ID 5177026019
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Listed by Jake Glaser • Lyon Stahl Investment Real Estate, Inc.
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