Backup offers
$10,000 Closing Credit¹
#24457625, Derrick Vartanian, Listing Office: Lyon Stahl Investment Real Estate, Inc.
#24434457·
Listing Office: KW Advisors·
Listing Agent: Davis Saadian·
Listing Office Phone: 310-482-2200
$10,000
closing credit¹
505 S Chicago St Los Angeles, CA 90033
$1,050,000 List price
$10,000
Closing credit¹
10 beds
5 baths
4,902 sqft
0.2 acres
$214 / sqft
House
Property details
About 505 S Chicago St
We are pleased to offer for sale this five (5) unit multifamily investment opportunity located at 505 S. Chicago Street, in Boyle Heights. This two-story building, consisting of two separate structures, was constructed of wood frame and stucco on a raised foundation built in 1905 with a square footage of 4,902 on a 7,500-square foot lot. The building has been reinforced and upgraded in compliance with the latest city codes and regulations, and is comprised of a remarkable unit mix, consisting of three (3) 2+1.5 units, and two (2) 2+1 units. The subject property is 100% occupied and is subject to the City of Los Angeles rent control regulation. The investment boasts spacious floor plans, five (5) on-site parking spaces, and individually metered for gas and electricity. Current gross income is $7,130/month, priced current at a 6+% cap rate and 12x GRM. There's approximately 45% upside in potential rents. Given the location, attractive local area amenities, and potential to increase rental income, this investment presents an excellent opportunity for an investor to acquire a unique premier property in the attractive Boyle Heights submarket that will provide exponential returns.
Highlights
Home typeOther
StatusActive
Size4,902 sqft
Lot size0.1714 Acres
Year built1905
ParkingGarage, Private
MLS #24434457
Summary
- MLS Number: 24434457
- MLS Name: CRMLS
- Office Name: KW Advisors
- Office Phone: (310) 482-2200
- Listing Agent: Davis Saadian
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 2/1/2025, 1:20:53 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,050,000
505 S Chicago St
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 13, 2016 | Home Sold | $770,000 |
| May 04, 2016 | Home Sold | $970,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $876,123 | $11,600 |
| 2023 | $858,945 | $11,392 |
| 2022 | $842,104 | $10,551 |
| 2021 | $825,593 | $10,401 |
| 2020 | $817,129 | $10,100 |
| 2019 | $801,108 | $9,931 |
| 2018 | $785,400 | $10,490 |
| 2017 | $770,000 | $10,490 |
History based on county public records data.
Nearby schools
3
Breed Street Elementary School
Public District KG-6
0.2 mi
•2226 E 3rd St
5
Puente Charter
Public Charter KG-3
0.3 mi
•501 S Boyle Ave
6
2nd Street Elementary School
Public District KG-6
0.3 mi
•1942 E 2nd St
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $45,500. The majority of Los Angeles, CA residents have income between $35k-100k annually. Most families are married, with kids. Residents of this area typically have high school diploma education.
How much money do the neighbors make?
41%
<35k
44%
35k-100k
15%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
What types of families live nearby?
27%
Single, No Kids
21%
Single, with Kids
18%
Married, No Kids
34%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
19%
<11 yrs old
10%
12-17 yrs old
29%
18-34 yrs old
33%
35-64 yrs old
9%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Pro Boxing
Major League Soccer (MLS)
Where do the neighbors shop?
Ross Dress For Less
Foot Locker
Burlington
Where do the neighbors go to eat?
Jack In The Box
Little Caesars
White Castle
What do the neighbors drive?
Nissan
Dodge
Kia
What do the neighbors listen to?
Rhythmic Contemporary Hits
Urban Adult Contemporary
All data provided by Home Junction and Claritas
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Frequently asked questions
About 505 S Chicago St
This home is located at 505 S Chicago St in Los Angeles, CA and zip code 90033 in the Boyle Heights neighborhood. This 4,902 square foot home, which was built in 1905, sits on a 0.17 acre lot. Features: 10 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since September 2, 2024 and is currently priced at $1,050,000.
Los Angeles, CA housing market in December 2024 saw over 524 listings sold above listed price, more than 203 sold at listed price and over 740 sold below. The inventory of homes for sale in Los Angeles, CA between November and December 2024 decreased by 5.3%. In December 2024 median list price was $1,026,634 and the average listing age was 41 days.
From Rocket Homes Real Estate and based on county public records data.