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$2,118,000
Est. payment /mo
12 Beds
14 Baths
5,490 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 5,490 sqft
Price per Sqft $385
MLS Listing ID 26640525
Bedrooms 12
HOA Y/N No
Year Built 2023
Lot Size 7,000 Sqft
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 6.16% cap rate and only $385/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
Area Boyh - Boyle Heights
Zoning LARD1.5
Interior
Heating Central
Cooling Central Air
Fireplaces Type None
Fireplace No
Laundry Upper Level
Exterior
Parking Features Uncovered
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Architectural Style Contemporary
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5177026019
Special Listing Condition Standard
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Listed by Jake Glaser Lyon Stahl Investment Real Estate, Inc.
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