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$ 1,495,000
Est. payment | /mo
4,709 SqFt
$ 1,495,000
Est. payment | /mo
4,709 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Pending
Purchase Type For Sale
Square Footage 4,709 sqft
Price per Sqft $317
MLS Listing ID CL25599703
HOA Y/N No
Year Built 1887
Lot Size 10,170 Sqft
Acres 0.23
Property Sub-Type Other
Property Description
131 S Boyle Avenue is a 15-unit multifamily property in the heart of Boyle Heights, just east of Downtown Los Angeles. Built in 1887 and designated a Los Angeles Historic-Cultural Monument, the former Simon Gless Farmhouse showcases over 125 years of architectural charm on a 10,170 SF LAR4-zoned lot. The property features (12) studios and (3) one-bedroom units across 4,709 SF, with master-metered utilities. Residents benefit from a highly walkable location near the Arts District, Little Tokyo, White Memorial Hospital, and Mariachi Plaza Metro Station (E Line), with direct freeway access for seamless connectivity across Los Angeles. Offering a true 9.55% cap rate and 6.65 GRM on current income, the asset provides stable cash flow with meaningful upside through rent optimization. The large lot also allows for future redevelopment or ADU potential (buyer to verify, subject to historic review).
Location
State CA
County Los Angeles
Zoning LAR4
Interior
Fireplace No
Exterior
View Y/N true
View City Lights
Building
New Construction No
Others
Tax ID 5174013022
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Listed by Tony Azzi • Tony Azzi
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Patrick Nagel
REALTOR® | Lic# 1760790