116-124 S Mathews St - Apartments FOR SALE


Los Angeles, CA 90033- Boyle Heights
$2,500,000 USD
818-399-4880
116-124 S Mathews St, Los Angeles, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/24
null | 5.76% Cap Rate

116-124 S Mathews St
Los Angeles, CA 90033
Boyle Heights


HIGHLIGHTS

  • 18 Unit Property In Highly Sought After Boyle Heights Submarket
  • Corner Lot With Secured Access, Offering Excellent Frontage
  • Attractive Cost Per Unit and Cost Per Foot For Investors
  • Proven Market Rents, with Competitve GRM and CAP Rate
  • All 1 Bedroom Units with Upside Potential in High Demand Area
  • Prime Location Near 1st Street and Soto Street, Providing Excellent Transit Access

OVERVIEW

PROPERTY OVERVIEW - Jared Levine of JML Real Estate Group / KW Commercial, the exclusive listing agent, is pleased to present the opportunity to acquire Mathews Apartments, a 18-unit multifamily property located in the highly sought-after Boyle Heights submarket of Los Angeles. This property is ideally positioned near major landmarks and offers a living experience in one of the city’s most vibrant and up-and-coming neighborhoods. Originally constructed in 1925, the property sits on an 8,388 SF corner lot and features a building footprint of 10,478 SF, zoned LARD 1.5. THE OPPORTUNITY - Mathews Apartments presents an exceptional opportunity to acquire a multifamily asset in Los Angeles’ competitive Boyle Heights rental market, with significant upside potential through value-add opportunities. The property consists entirely of one-bedroom units, making it a versatile investment for a wide range of tenants. This well-maintained building offers secured access and sits on a desirable corner lot, providing excellent frontage in a growing neighborhood. The property presents an attractive cost per unit and cost per square foot, making it an appealing investment option for those seeking potentially strong returns and future appreciation. The current in-place GRM and Cap Rate are competitive, and with proven market rents, there is ample potential for rent increases through repositioning and further unit updates. Investors can take advantage of a great reposition opportunity to capitalize on the neighborhood’s continued growth. THE LOCATION - Mathews Apartments is located in the Boyle Heights submarket, one of Los Angeles' most historically rich and culturally diverse neighborhoods. The property sits right off 1st Street and Soto Street, offering excellent access to major thoroughfares and public transit routes, ensuring easy connections throughout Los Angeles. Boyle Heights is undergoing significant transformation, with new developments and investments shaping the area. The property’s corner lot position and proximity to local amenities, including shopping centers, dining options, and cultural landmarks, provide convenience for residents and add to the property’s overall appeal. With strong demand for rental properties in Boyle Heights and the potential for significant rental growth, Mathews Apartments offers a unique opportunity to secure an income-generating asset in a rapidly evolving area. Please Contact Us to Request An OM

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$239 USD /SF

# OF UNITS

18

PRICE/UNIT

$138,889

CAP RATE

5.76%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

All 1 Bedrooms / 9.45 GRM* / $138,000 CPU

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,388 SF

ZONING

RD1.5, Los Angeles

APN/PARCEL ID

5180-006-022

ASK ABOUT THIS PROPERTY

Jared LevineJML Real Estate GroupMore Info
818-399-4880

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Jared LevineJML Real Estate GroupMore Info
818-399-4880

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.