2500 1st Street

Los Angeles, CA 90033

$1,500,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $174 / sqft

1964

calendar_month Built

Property Description

We are pleased to present 2500 E 1st St, a mixed-use property situated in the heart of the culturally rich Boyle Heights district, renowned for its diverse community and bustling atmosphere. Built in 1964, the 8,578 square foot property features a standalone corner retail unit complemented by an 8-unit apartment complex at the rear. The apartment consists of three (3) 1-bedroom and five (5) 2-bedroom units. With current rents offering significant room for growth, savvy investors can capitalize on a approximately 62% upside potential in rental income as units become vacant. Spanning across 8,641 square feet of land, the property is commercially zoned with a tier 4 TOC bonus, permitting the development of 40 units or more through ED-1, further enhancing its investment appeal. Strategically positioned just one block away from the E Line Soto Station & adjacent Los Lirios Apartments which boasts 2,400 square feet of ground-floor commercial space, this property offers unparalleled convenience and accessibility. Furthermore, with a brand-new four-story, 51-unit affordable housing complex scheduled for construction on the same block as the subject property, the area is experiencing a surge in development activity, underscoring its status as a burgeoning investment hotspot. With its proximity to downtown Los Angeles and seamless access to public transportation, Boyle Heights offers residents and businesses alike an unparalleled urban lifestyle. With its rich cultural heritage, diverse community, and thriving commercial landscape, Boyle Heights presents a compelling investment opportunity in one of Los Angeles' most dynamic and sought-after neighborhoods.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 2500 1st Street
City Los Angeles
State CA
Zip 90033
County Los Angeles
Listing Agent Sevak Keshishian DRE#01887505
Courtesy Of Marcus & Millichap
MLS 24384551
List Price $1,500,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 8,641
Year Built 1964
DOM 10

Exterior Information

Maps

Listing information courtesy of: Sevak Keshishian, Marcus & Millichap . *Based on information from the Association of REALTORS/Multiple Listing as of May 4th, 2024 at 5:14 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. 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. Properties may or may not be listed by the office/agent presenting the information.